Rhumbline Advisers Boosts Stock Holdings in Vertex Pharmaceuticals Incorporated $VRTX

Rhumbline Advisers grew its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 0.7% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 454,372 shares of the pharmaceutical company’s stock after purchasing an additional 3,341 shares during the period. Rhumbline Advisers’ holdings in Vertex Pharmaceuticals were worth $202,286,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in VRTX. United Services Automobile Association bought a new stake in Vertex Pharmaceuticals in the first quarter worth about $2,933,000. Lee Johnson Capital Management LLC purchased a new stake in shares of Vertex Pharmaceuticals during the 2nd quarter worth approximately $721,000. Police & Firemen s Retirement System of New Jersey increased its stake in shares of Vertex Pharmaceuticals by 3.7% during the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 39,035 shares of the pharmaceutical company’s stock worth $17,378,000 after purchasing an additional 1,393 shares during the last quarter. Bailard Inc. raised its holdings in shares of Vertex Pharmaceuticals by 0.5% in the 2nd quarter. Bailard Inc. now owns 38,147 shares of the pharmaceutical company’s stock worth $16,983,000 after purchasing an additional 200 shares during the period. Finally, SteelPeak Wealth LLC purchased a new position in Vertex Pharmaceuticals in the second quarter valued at approximately $10,059,000. 90.96% of the stock is owned by institutional investors.

Vertex Pharmaceuticals Stock Performance

NASDAQ:VRTX opened at $426.76 on Friday. The business’s fifty day moving average is $411.39 and its 200 day moving average is $425.24. The firm has a market cap of $108.28 billion, a price-to-earnings ratio of 30.50 and a beta of 0.36. Vertex Pharmaceuticals Incorporated has a 52-week low of $362.50 and a 52-week high of $519.68.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its earnings results on Monday, November 3rd. The pharmaceutical company reported $4.80 EPS for the quarter, topping the consensus estimate of $4.58 by $0.22. Vertex Pharmaceuticals had a return on equity of 23.91% and a net margin of 31.86%.The business had revenue of $3.08 billion during the quarter, compared to the consensus estimate of $3.05 billion. During the same quarter last year, the company earned $4.38 EPS. The firm’s revenue was up 11.0% compared to the same quarter last year. Vertex Pharmaceuticals has set its FY 2025 guidance at EPS. Equities analysts predict that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Chairman Jeffrey M. Leiden sold 53,604 shares of the business’s stock in a transaction that occurred on 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 transaction, the chairman owned 24,026 shares of the company’s stock, valued at approximately $10,588,738.72. The trade was a 69.05% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.20% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Raymond James Financial began coverage on Vertex Pharmaceuticals in a report on Tuesday, September 2nd. They set a “market perform” rating for the company. Guggenheim dropped their price target on Vertex Pharmaceuticals from $558.00 to $546.00 and set a “buy” rating on the stock in a research report on Wednesday, August 6th. Wells Fargo & Company raised Vertex Pharmaceuticals from an “equal weight” rating to an “overweight” rating and set a $460.00 price objective for the company in a report on Wednesday, August 6th. Weiss Ratings restated a “hold (c+)” rating on shares of Vertex Pharmaceuticals in a research note on Wednesday, October 8th. Finally, Royal Bank Of Canada cut their target price on shares of Vertex Pharmaceuticals from $423.00 to $415.00 and set a “sector perform” rating for the company in a research report on Tuesday, November 4th. Two analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and eleven have given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $491.95.

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.