Assetmark Inc. Raises Stock Holdings in Vertex Pharmaceuticals Incorporated $VRTX

Assetmark Inc. boosted its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 8.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 92,391 shares of the pharmaceutical company’s stock after purchasing an additional 7,094 shares during the quarter. Assetmark Inc.’s holdings in Vertex Pharmaceuticals were worth $41,133,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of VRTX. Price T Rowe Associates Inc. MD boosted its position in Vertex Pharmaceuticals by 72.5% during the first 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. Jennison Associates LLC lifted its position in shares of Vertex Pharmaceuticals by 21.5% in the second quarter. Jennison Associates LLC now owns 6,151,505 shares of the pharmaceutical company’s stock valued at $2,738,650,000 after acquiring an additional 1,089,063 shares in the last quarter. Nuveen LLC purchased a new position in shares of Vertex Pharmaceuticals in the first quarter valued at approximately $484,053,000. Goldman Sachs Group Inc. lifted its position in shares of Vertex Pharmaceuticals by 28.9% in 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. Finally, Alyeska Investment Group L.P. lifted its position in shares of Vertex Pharmaceuticals by 456.9% in the first quarter. Alyeska Investment Group L.P. now owns 431,804 shares of the pharmaceutical company’s stock valued at $209,347,000 after acquiring an additional 354,269 shares in the last quarter. Hedge funds and other institutional investors own 90.96% of the company’s stock.

Vertex Pharmaceuticals Stock Performance

Shares of Vertex Pharmaceuticals stock opened at $419.89 on Friday. Vertex Pharmaceuticals Incorporated has a one year low of $362.50 and a one year high of $519.88. The company has a market cap of $107.66 billion, a price-to-earnings ratio of 30.01 and a beta of 0.43. The business’s 50 day moving average price is $401.10 and its 200 day moving average price is $432.92.

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

Wall Street Analysts Forecast Growth

VRTX has been the topic of several research reports. BMO Capital Markets set a $530.00 target price on Vertex Pharmaceuticals and gave the company an “outperform” rating in a research report on Tuesday, August 5th. Guggenheim reduced their target price on shares of Vertex Pharmaceuticals from $558.00 to $546.00 and set a “buy” rating for the company in a research report on Wednesday, August 6th. Leerink Partnrs upgraded shares of Vertex Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a research report on Thursday, September 25th. Leerink Partners upgraded shares of Vertex Pharmaceuticals from a “market perform” rating to an “outperform” rating and reduced their target price for the company from $458.00 to $456.00 in a research report on Thursday, September 25th. Finally, Raymond James Financial initiated coverage on shares of Vertex Pharmaceuticals in a research report on Tuesday, September 2nd. They issued a “market perform” rating for the company. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $492.10.

Insider Transactions at Vertex Pharmaceuticals

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

About Vertex Pharmaceuticals

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.