Allstate Corp Has $3.63 Million Holdings in Vertex Pharmaceuticals Incorporated $VRTX

Allstate Corp lessened its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 1.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,487 shares of the pharmaceutical company’s stock after selling 128 shares during the quarter. Allstate Corp’s holdings in Vertex Pharmaceuticals were worth $3,630,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Clal Insurance Enterprises Holdings Ltd increased its stake in Vertex Pharmaceuticals by 450.0% in the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 55 shares of the pharmaceutical company’s stock valued at $27,000 after buying an additional 45 shares during the last quarter. Mascagni Wealth Management Inc. acquired a new position in shares of Vertex Pharmaceuticals during the 4th quarter worth about $31,000. Mpwm Advisory Solutions LLC acquired a new position in shares of Vertex Pharmaceuticals during the 4th quarter worth about $40,000. Minot DeBlois Advisors LLC bought a new position in shares of Vertex Pharmaceuticals in the 4th quarter valued at about $44,000. Finally, SJS Investment Consulting Inc. increased its position in shares of Vertex Pharmaceuticals by 46.2% in the first quarter. SJS Investment Consulting Inc. now owns 95 shares of the pharmaceutical company’s stock valued at $46,000 after acquiring an additional 30 shares during the last quarter. Institutional investors and hedge funds own 90.96% of the company’s stock.

Insider Buying and Selling at Vertex Pharmaceuticals

In other news, Director Bruce I. Sachs purchased 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 6th. The stock was acquired at an average cost of $389.68 per share, with a total value of $1,948,400.00. Following the acquisition, the director owned 45,000 shares in the company, valued at approximately $17,535,600. This trade represents a 12.50% increase in their position. The acquisition was disclosed in a legal 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 $395.12 on Friday. The company has a market capitalization of $101.31 billion, a P/E ratio of 28.24 and a beta of 0.44. Vertex Pharmaceuticals Incorporated has a 12 month low of $362.50 and a 12 month high of $519.88. The stock has a 50 day moving average of $438.99 and a 200-day moving average of $461.53.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly earnings results on Monday, August 4th. The pharmaceutical company reported $4.52 earnings per share for the quarter, beating analysts’ consensus estimates of $4.24 by $0.28. Vertex Pharmaceuticals had a return on equity of 23.91% and a net margin of 31.86%.The business had revenue of $2.94 billion for the quarter, compared to analysts’ expectations of $2.90 billion. During the same quarter in the prior year, the business earned ($12.83) EPS. The firm’s revenue for the quarter was up 11.3% on a year-over-year basis. Vertex Pharmaceuticals has set its FY 2025 guidance at EPS. Analysts predict that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current fiscal year.

Analyst Ratings Changes

VRTX has been the subject of several recent research reports. Erste Group Bank cut Vertex Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 23rd. JPMorgan Chase & Co. upped their price objective on Vertex Pharmaceuticals from $515.00 to $517.00 and gave the stock an “overweight” rating in a research note on Monday, July 14th. Leerink Partnrs downgraded Vertex Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 6th. Needham & Company LLC reissued a “hold” rating on shares of Vertex Pharmaceuticals in a research note on Tuesday, May 6th. Finally, Wolfe Research lowered shares of Vertex Pharmaceuticals from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and thirteen have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Vertex Pharmaceuticals currently has an average rating of “Moderate Buy” and an average price target of $497.10.

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.