Renaissance Group LLC Trims Stock Holdings in Vertex Pharmaceuticals Incorporated $VRTX

Renaissance Group LLC decreased its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 11.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,519 shares of the pharmaceutical company’s stock after selling 195 shares during the quarter. Renaissance Group LLC’s holdings in Vertex Pharmaceuticals were worth $676,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD raised its stake in shares of 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 during the period. Jennison Associates LLC grew its holdings in Vertex Pharmaceuticals by 21.5% during the 2nd quarter. Jennison Associates LLC now owns 6,151,505 shares of the pharmaceutical company’s stock valued at $2,738,650,000 after buying an additional 1,089,063 shares in the last quarter. Nuveen LLC purchased a new stake in shares of Vertex Pharmaceuticals in the first quarter worth about $484,053,000. Vanguard Group Inc. boosted its position in shares of Vertex Pharmaceuticals by 2.1% in 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 during the period. Finally, Goldman Sachs Group Inc. boosted 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 during the period. 90.96% of the stock is owned by institutional investors.

Vertex Pharmaceuticals Trading Down 3.3%

Shares of Vertex Pharmaceuticals stock opened at $421.03 on Thursday. The firm has a market capitalization of $106.82 billion, a PE ratio of 30.10 and a beta of 0.36. Vertex Pharmaceuticals Incorporated has a 12 month low of $362.50 and a 12 month high of $519.68. The business’s 50-day moving average price is $410.25 and its 200-day moving average price is $425.78.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its earnings results on Monday, November 3rd. The pharmaceutical company reported $4.80 earnings per share (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 analyst estimates of $3.05 billion. During the same quarter in the prior year, the firm earned $4.38 earnings per share. Vertex Pharmaceuticals’s revenue for the quarter was up 11.0% on a year-over-year basis. Vertex Pharmaceuticals has set its FY 2025 guidance at EPS. As a group, analysts predict that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have issued reports on VRTX. Truist Financial set a $490.00 target price on shares of Vertex Pharmaceuticals and gave the stock a “buy” rating in a research note on Tuesday, August 5th. Scotiabank started coverage on Vertex Pharmaceuticals in a research note on Thursday, November 13th. They set a “sector outperform” rating and a $495.00 price objective for the company. Barclays boosted their target price on Vertex Pharmaceuticals from $408.00 to $414.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 4th. Stifel Nicolaus lowered their price target on Vertex Pharmaceuticals from $455.00 to $445.00 and set a “hold” rating on the stock in a report on Tuesday, November 4th. Finally, Evercore ISI cut their price objective on Vertex Pharmaceuticals from $510.00 to $475.00 and set an “outperform” rating for the company in a report on Thursday, September 11th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and eleven have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $491.95.

Insider Activity

In other news, Chairman Jeffrey M. Leiden sold 53,604 shares of the firm’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 value of $23,624,354.88. Following the transaction, the chairman owned 24,026 shares in the company, valued at approximately $10,588,738.72. This trade represents a 69.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.20% of the company’s stock.

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.