AMF Tjanstepension AB Boosts Position in Vertex Pharmaceuticals Incorporated $VRTX

AMF Tjanstepension AB raised its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 6.1% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 64,705 shares of the pharmaceutical company’s stock after purchasing an additional 3,710 shares during the period. AMF Tjanstepension AB’s holdings in Vertex Pharmaceuticals were worth $28,807,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Price T Rowe Associates Inc. MD increased its holdings in 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 acquiring an additional 1,226,527 shares in the last quarter. Nuveen LLC purchased a new stake in shares of Vertex Pharmaceuticals in the first quarter valued at about $484,053,000. Jennison Associates LLC grew its position in shares of Vertex Pharmaceuticals by 17.2% in the first quarter. Jennison Associates LLC now owns 5,062,442 shares of the pharmaceutical company’s stock valued at $2,454,373,000 after purchasing an additional 744,680 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in shares of Vertex Pharmaceuticals by 28.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,775,194 shares of the pharmaceutical company’s stock worth $860,650,000 after purchasing an additional 398,460 shares in the last quarter. Finally, Alyeska Investment Group L.P. raised its position in shares of Vertex Pharmaceuticals by 456.9% during the 1st quarter. Alyeska Investment Group L.P. now owns 431,804 shares of the pharmaceutical company’s stock worth $209,347,000 after purchasing an additional 354,269 shares during the last quarter. Institutional investors and hedge funds own 90.96% of the company’s stock.

Insider Buying and Selling at Vertex Pharmaceuticals

In related news, Director Bruce I. Sachs acquired 5,000 shares of the stock in a transaction dated Wednesday, August 6th. The stock was bought at an average cost of $389.68 per share, with a total value of $1,948,400.00. Following the purchase, the director directly owned 45,000 shares of the company’s stock, valued at approximately $17,535,600. This represents a 12.50% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.20% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Cantor Fitzgerald reduced their target price on Vertex Pharmaceuticals from $535.00 to $485.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 5th. Citigroup upped their price objective on Vertex Pharmaceuticals from $550.00 to $575.00 and gave the company a “buy” rating in a research report on Thursday. Wells Fargo & Company raised Vertex Pharmaceuticals from an “equal weight” rating to an “overweight” rating and set a $460.00 price objective on the stock in a research note on Wednesday, August 6th. BMO Capital Markets set a $530.00 price objective on Vertex Pharmaceuticals and gave the stock an “outperform” rating in a research report on Tuesday, August 5th. Finally, Royal Bank Of Canada reduced their target price on shares of Vertex Pharmaceuticals from $430.00 to $405.00 and set a “sector perform” rating on the stock in a report on Tuesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and twelve have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $493.81.

Vertex Pharmaceuticals Price Performance

VRTX opened at $403.30 on Friday. Vertex Pharmaceuticals Incorporated has a 12 month low of $362.50 and a 12 month high of $519.88. The business has a 50-day moving average of $399.12 and a two-hundred day moving average of $442.98. The stock has a market capitalization of $103.40 billion, a price-to-earnings ratio of 28.83 and a beta of 0.43.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its earnings results on Monday, August 4th. The pharmaceutical company reported $4.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.24 by $0.28. Vertex Pharmaceuticals had a net margin of 31.86% and a return on equity of 23.91%. The business had revenue of $2.94 billion for the quarter, compared to analysts’ expectations of $2.90 billion. During the same period last year, the company earned ($12.83) earnings per share. The company’s quarterly revenue was up 11.3% on a year-over-year basis. Vertex Pharmaceuticals has set its FY 2025 guidance at EPS. Equities research analysts anticipate 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.