Strid Group LLC Makes New Investment in Vertex Pharmaceuticals Incorporated $VRTX

Strid Group LLC purchased a new position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) during the second quarter, Holdings Channel.com reports. The firm purchased 2,500 shares of the pharmaceutical company’s stock, valued at approximately $1,113,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Price T Rowe Associates Inc. MD lifted its holdings in shares of Vertex Pharmaceuticals by 72.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,917,227 shares of the pharmaceutical company’s stock worth $1,414,331,000 after purchasing an additional 1,226,527 shares in the last quarter. Nuveen LLC bought a new position in shares of Vertex Pharmaceuticals in the 1st quarter worth $484,053,000. Jennison Associates LLC lifted its holdings in shares of Vertex Pharmaceuticals by 17.2% in the 1st quarter. Jennison Associates LLC now owns 5,062,442 shares of the pharmaceutical company’s stock worth $2,454,373,000 after purchasing an additional 744,680 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Vertex Pharmaceuticals by 28.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,775,194 shares of the pharmaceutical company’s stock worth $860,650,000 after purchasing an additional 398,460 shares in the last quarter. Finally, Alyeska Investment Group L.P. lifted its holdings in shares of Vertex Pharmaceuticals by 456.9% in the 1st quarter. Alyeska Investment Group L.P. now owns 431,804 shares of the pharmaceutical company’s stock worth $209,347,000 after purchasing an additional 354,269 shares in the last quarter. 90.96% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Bruce I. Sachs bought 5,000 shares of the business’s stock in a transaction on Wednesday, August 6th. The stock was acquired at an average price of $389.68 per share, for a total transaction of $1,948,400.00. Following the purchase, the director directly owned 45,000 shares in the company, valued at $17,535,600. This trade represents a 12.50% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.20% of the stock is currently owned by corporate insiders.

Vertex Pharmaceuticals Stock Performance

Shares of VRTX opened at $403.30 on Friday. The business has a 50-day moving average of $399.12 and a 200 day moving average of $442.50. Vertex Pharmaceuticals Incorporated has a fifty-two week low of $362.50 and a fifty-two week high of $519.88. The firm has a market cap of $103.40 billion, a P/E ratio of 28.83 and a beta of 0.43.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings data on Monday, August 4th. The pharmaceutical company reported $4.52 earnings per share for the quarter, topping the consensus estimate of $4.24 by $0.28. Vertex Pharmaceuticals had a return on equity of 23.91% and a net margin of 31.86%.The company had revenue of $2.94 billion during the quarter, compared to analyst estimates of $2.90 billion. During the same quarter last year, the firm posted ($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. As a group, research analysts predict that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

VRTX has been the topic of a number of recent research reports. HC Wainwright cut their target price on Vertex Pharmaceuticals from $550.00 to $478.00 and set a “buy” rating on the stock in a report on Tuesday, August 5th. Wells Fargo & Company upgraded Vertex Pharmaceuticals from an “equal weight” rating to an “overweight” rating and set a $460.00 target price on the stock in a report on Wednesday, August 6th. Citigroup increased their target price on Vertex Pharmaceuticals from $550.00 to $575.00 and gave the stock a “buy” rating in a report on Thursday. Scotiabank lowered their price target on Vertex Pharmaceuticals from $442.00 to $438.00 and set a “sector perform” rating for the company in a research report on Tuesday, August 5th. Finally, Royal Bank Of Canada lowered their price target on Vertex Pharmaceuticals from $430.00 to $405.00 and set a “sector perform” rating for the company in a research report on Tuesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and twelve have issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $493.81.

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.