Police & Firemen s Retirement System of New Jersey Acquires 1,393 Shares of Vertex Pharmaceuticals Incorporated $VRTX

Police & Firemen s Retirement System of New Jersey raised its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 3.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 39,035 shares of the pharmaceutical company’s stock after buying an additional 1,393 shares during the quarter. Police & Firemen s Retirement System of New Jersey’s holdings in Vertex Pharmaceuticals were worth $17,378,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. United Services Automobile Association acquired a new position in shares of Vertex Pharmaceuticals in the 1st quarter valued at $2,933,000. Lee Johnson Capital Management LLC acquired a new stake in shares of Vertex Pharmaceuticals during the 2nd quarter valued at about $721,000. Bailard Inc. increased its stake in Vertex Pharmaceuticals by 0.5% in the second quarter. Bailard Inc. now owns 38,147 shares of the pharmaceutical company’s stock valued at $16,983,000 after acquiring an additional 200 shares during the period. SteelPeak Wealth LLC acquired a new position in Vertex Pharmaceuticals in the second quarter worth about $10,059,000. Finally, Moody Lynn & Lieberson LLC lifted its stake in Vertex Pharmaceuticals by 1.4% during the second quarter. Moody Lynn & Lieberson LLC now owns 58,077 shares of the pharmaceutical company’s stock worth $25,856,000 after purchasing an additional 822 shares during the period. 90.96% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

VRTX has been the subject of a number of recent research reports. UBS Group dropped their target price on Vertex Pharmaceuticals from $553.00 to $546.00 and set a “buy” rating for the company in a report on Friday, November 7th. Wells Fargo & Company upgraded Vertex Pharmaceuticals from an “equal weight” rating to an “overweight” rating and set a $460.00 price objective for the company in a research note on Wednesday, August 6th. JPMorgan Chase & Co. boosted their target price on shares of Vertex Pharmaceuticals from $517.00 to $530.00 and gave the company an “overweight” rating in a research note on Wednesday, October 8th. Morgan Stanley cut their price target on shares of Vertex Pharmaceuticals from $439.00 to $438.00 and set an “equal weight” rating for the company in a report on Friday, October 10th. Finally, Wall Street Zen cut shares of Vertex Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Friday, August 22nd. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and twelve have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $489.10.

Vertex Pharmaceuticals Price Performance

Shares of Vertex Pharmaceuticals stock opened at $434.19 on Thursday. The firm has a 50 day simple moving average of $406.47 and a 200 day simple moving average of $428.20. Vertex Pharmaceuticals Incorporated has a fifty-two week low of $362.50 and a fifty-two week high of $519.68. The firm has a market cap of $110.16 billion, a P/E ratio of 31.04 and a beta of 0.36.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings results on Monday, November 3rd. The pharmaceutical company reported $4.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.58 by $0.22. The business had revenue of $3.08 billion for the quarter, compared to analyst estimates of $3.05 billion. Vertex Pharmaceuticals had a return on equity of 23.91% and a net margin of 31.86%.The firm’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $4.38 earnings per share. Vertex Pharmaceuticals has set its FY 2025 guidance at EPS. On average, sell-side analysts expect that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current year.

Vertex Pharmaceuticals Profile

Vertex Pharmaceuticals Incorporated, a biotechnology company, engages in developing and commercializing therapies for treating cystic fibrosis (CF). It markets TRIKAFTA/KAFTRIO for people with CF with at least one F508del mutation for 2 years of age or older; SYMDEKO/SYMKEVI for people with CF for 6 years of age or older; ORKAMBI for CF patients 1 year or older; and KALYDECO for the treatment of patients with 1 year or older who have CF with ivacaftor.