Allworth Financial LP Purchases 1,516 Shares of Vertex Pharmaceuticals Incorporated $VRTX

Allworth Financial LP raised its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 77.9% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 3,462 shares of the pharmaceutical company’s stock after acquiring an additional 1,516 shares during the period. Allworth Financial LP’s holdings in Vertex Pharmaceuticals were worth $1,541,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Americana Partners LLC grew its position in Vertex Pharmaceuticals by 0.8% in the 2nd quarter. Americana Partners LLC now owns 12,334 shares of the pharmaceutical company’s stock valued at $5,491,000 after purchasing an additional 97 shares during the period. Illinois Municipal Retirement Fund raised its holdings in Vertex Pharmaceuticals by 6.0% during the second quarter. Illinois Municipal Retirement Fund now owns 53,624 shares of the pharmaceutical company’s stock worth $23,873,000 after buying an additional 3,034 shares during the last quarter. Joseph Group Capital Management lifted its stake in shares of Vertex Pharmaceuticals by 8.9% in the second quarter. Joseph Group Capital Management now owns 7,760 shares of the pharmaceutical company’s stock valued at $3,455,000 after buying an additional 634 shares in the last quarter. ProShare Advisors LLC grew its holdings in shares of Vertex Pharmaceuticals by 4.8% during the second quarter. ProShare Advisors LLC now owns 401,244 shares of the pharmaceutical company’s stock valued at $178,634,000 after buying an additional 18,214 shares during the last quarter. Finally, Profund Advisors LLC increased its position in shares of Vertex Pharmaceuticals by 10.9% during the second quarter. Profund Advisors LLC now owns 27,353 shares of the pharmaceutical company’s stock worth $12,178,000 after acquiring an additional 2,682 shares in the last quarter. 90.96% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Morgan Stanley dropped their price target on shares of Vertex Pharmaceuticals from $439.00 to $438.00 and set an “equal weight” rating on the stock in a research report on Friday, October 10th. Leerink Partnrs raised Vertex Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a research note on Thursday, September 25th. JPMorgan Chase & Co. lifted their target price on Vertex Pharmaceuticals from $517.00 to $530.00 and gave the company an “overweight” rating in a research report on Wednesday, October 8th. Cantor Fitzgerald lowered their price target on Vertex Pharmaceuticals from $535.00 to $485.00 and set an “overweight” rating for the company in a research report on Tuesday, August 5th. Finally, UBS Group dropped their price objective on Vertex Pharmaceuticals from $553.00 to $546.00 and set a “buy” rating on the stock in a research note on Friday, November 7th. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and eleven have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $491.95.

Vertex Pharmaceuticals Stock Performance

Shares of NASDAQ:VRTX opened at $434.52 on Friday. The company has a market capitalization of $110.25 billion, a P/E ratio of 31.06 and a beta of 0.36. The company’s 50-day moving average is $407.22 and its 200 day moving average is $428.25. Vertex Pharmaceuticals Incorporated has a fifty-two week low of $362.50 and a fifty-two week high of $519.68.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings data 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 net margin of 31.86% and a return on equity of 23.91%. The business had revenue of $3.08 billion for the quarter, compared to analyst estimates of $3.05 billion. During the same quarter in the previous year, the firm posted $4.38 earnings per share. The company’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, research analysts predict that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current year.

Vertex Pharmaceuticals Company 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.