AE Wealth Management LLC Has $1.10 Million Stake in Vertex Pharmaceuticals Incorporated $VRTX

AE Wealth Management LLC lifted its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 112.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,468 shares of the pharmaceutical company’s stock after purchasing an additional 1,304 shares during the quarter. AE Wealth Management LLC’s holdings in Vertex Pharmaceuticals were worth $1,099,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in VRTX. Brighton Jones LLC increased its stake in Vertex Pharmaceuticals by 15.0% in the 4th quarter. Brighton Jones LLC now owns 4,427 shares of the pharmaceutical company’s stock valued at $1,783,000 after buying an additional 579 shares during the last quarter. CWM LLC grew its stake in Vertex Pharmaceuticals by 22.3% in the 1st quarter. CWM LLC now owns 7,684 shares of the pharmaceutical company’s stock valued at $3,725,000 after buying an additional 1,403 shares in the last quarter. Whittier Trust Co. of Nevada Inc. grew its holdings in Vertex Pharmaceuticals by 13.8% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 552 shares of the pharmaceutical company’s stock valued at $268,000 after buying an additional 67 shares in the last quarter. PAX Financial Group LLC purchased a new position in shares of Vertex Pharmaceuticals during the 1st quarter valued at $316,000. Finally, Larson Financial Group LLC boosted its position in shares of Vertex Pharmaceuticals by 72.0% during the 1st quarter. Larson Financial Group LLC now owns 836 shares of the pharmaceutical company’s stock valued at $405,000 after acquiring an additional 350 shares during the last quarter. 90.96% of the stock is owned by institutional investors.

Vertex Pharmaceuticals Stock Performance

Shares of NASDAQ VRTX opened at $434.19 on Thursday. The firm has a market capitalization of $110.16 billion, a price-to-earnings ratio of 31.04 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. The stock has a 50 day moving average price of $406.47 and a 200 day moving average price of $428.20.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its earnings results on Monday, November 3rd. The pharmaceutical company reported $4.80 earnings per share for the quarter, topping analysts’ consensus estimates of $4.58 by $0.22. Vertex Pharmaceuticals had a return on equity of 23.91% and a net margin of 31.86%.The company 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 business earned $4.38 earnings per share. Vertex Pharmaceuticals’s revenue was up 11.0% on a year-over-year basis. Vertex Pharmaceuticals has set its FY 2025 guidance at EPS. Analysts forecast that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Scotiabank cut their price objective on Vertex Pharmaceuticals from $442.00 to $438.00 and set a “sector perform” rating for the company in a report on Tuesday, August 5th. Morgan Stanley cut their price target on Vertex Pharmaceuticals from $439.00 to $438.00 and set an “equal weight” rating on the stock in a research note on Friday, October 10th. Canaccord Genuity Group dropped their price target on shares of Vertex Pharmaceuticals from $424.00 to $411.00 and set a “hold” rating on the stock in a report on Wednesday, August 6th. Citigroup upped their price objective on Vertex Pharmaceuticals from $550.00 to $575.00 and gave the stock a “buy” rating in a research note on Thursday, October 2nd. Finally, JPMorgan Chase & Co. upped their price objective on Vertex Pharmaceuticals from $517.00 to $530.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and twelve have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $489.10.

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.