Vertex Pharmaceuticals Incorporated $VRTX Shares Bought by MAI Capital Management

MAI Capital Management grew its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 10.9% during the second quarter, HoldingsChannel reports. The firm owned 2,127 shares of the pharmaceutical company’s stock after buying an additional 209 shares during the period. MAI Capital Management’s holdings in Vertex Pharmaceuticals were worth $947,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Price T Rowe Associates Inc. MD grew its holdings in Vertex Pharmaceuticals by 72.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,917,227 shares of the pharmaceutical company’s stock valued at $1,414,331,000 after purchasing an additional 1,226,527 shares in the last quarter. Jennison Associates LLC lifted its holdings in Vertex Pharmaceuticals by 21.5% in the 2nd quarter. Jennison Associates LLC now owns 6,151,505 shares of the pharmaceutical company’s stock worth $2,738,650,000 after buying an additional 1,089,063 shares in the last quarter. Nuveen LLC purchased a new position in Vertex Pharmaceuticals in the 1st quarter valued at about $484,053,000. Vanguard Group Inc. grew its stake in shares of Vertex Pharmaceuticals by 2.1% during the second quarter. Vanguard Group Inc. now owns 23,973,777 shares of the pharmaceutical company’s stock valued at $10,673,126,000 after acquiring an additional 482,616 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its stake in shares of Vertex Pharmaceuticals by 28.9% during the first quarter. Goldman Sachs Group Inc. now owns 1,775,194 shares of the pharmaceutical company’s stock valued at $860,650,000 after acquiring an additional 398,460 shares in the last quarter. 90.96% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently commented on VRTX. Scotiabank began coverage on Vertex Pharmaceuticals in a research note on Thursday, November 13th. They issued a “sector outperform” rating and a $495.00 price target on the stock. Wells Fargo & Company raised Vertex Pharmaceuticals from an “equal weight” rating to an “overweight” rating and set a $460.00 target price on the stock in a research report on Wednesday, August 6th. BMO Capital Markets set a $530.00 price target on shares of Vertex Pharmaceuticals and gave the stock an “outperform” rating in a research report on Tuesday, August 5th. Canaccord Genuity Group dropped their price target on shares of Vertex Pharmaceuticals from $424.00 to $411.00 and set a “hold” rating for the company in a research note on Wednesday, August 6th. Finally, Leerink Partnrs raised shares of Vertex Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a report on Thursday, September 25th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and eleven have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $491.95.

Insider Activity at Vertex Pharmaceuticals

In related news, Chairman Jeffrey M. Leiden sold 53,604 shares of the business’s stock in a transaction dated Friday, November 14th. The shares were sold at an average price of $440.72, for a total transaction of $23,624,354.88. Following the completion of the sale, the chairman owned 24,026 shares of the company’s stock, valued at $10,588,738.72. This represents a 69.05% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.20% of the company’s stock.

Vertex Pharmaceuticals Trading Down 0.6%

Shares of NASDAQ VRTX opened at $424.00 on Tuesday. The company has a market capitalization of $107.58 billion, a price-to-earnings ratio of 30.31 and a beta of 0.36. Vertex Pharmaceuticals Incorporated has a twelve month low of $362.50 and a twelve month high of $519.68. The business has a 50 day simple moving average of $412.01 and a 200-day simple moving average of $424.96.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its quarterly earnings data on Monday, November 3rd. The pharmaceutical company reported $4.80 EPS for the quarter, topping analysts’ consensus estimates of $4.58 by $0.22. Vertex Pharmaceuticals had a net margin of 31.86% and a return on equity of 23.91%. The firm had revenue of $3.08 billion during the quarter, compared to the consensus estimate of $3.05 billion. During the same quarter in the previous year, the company posted $4.38 earnings per share. The firm’s revenue was up 11.0% on a year-over-year basis. Vertex Pharmaceuticals has set its FY 2025 guidance at EPS. As a group, equities analysts predict that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current year.

Vertex Pharmaceuticals Company 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.