Jennison Associates LLC Acquires 1,089,063 Shares of Vertex Pharmaceuticals Incorporated $VRTX

Jennison Associates LLC increased its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 21.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,151,505 shares of the pharmaceutical company’s stock after acquiring an additional 1,089,063 shares during the period. Vertex Pharmaceuticals comprises approximately 1.6% of Jennison Associates LLC’s portfolio, making the stock its 15th biggest holding. Jennison Associates LLC’s holdings in Vertex Pharmaceuticals were worth $2,738,650,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. New York Life Investment Management LLC grew its holdings in shares of Vertex Pharmaceuticals by 0.8% in the second quarter. New York Life Investment Management LLC now owns 38,900 shares of the pharmaceutical company’s stock valued at $17,318,000 after acquiring an additional 294 shares in the last quarter. Howard Capital Management Inc. grew its holdings in shares of Vertex Pharmaceuticals by 34.4% in the second quarter. Howard Capital Management Inc. now owns 8,918 shares of the pharmaceutical company’s stock valued at $3,970,000 after acquiring an additional 2,282 shares in the last quarter. Motley Fool Wealth Management LLC grew its holdings in shares of Vertex Pharmaceuticals by 63.1% in the second quarter. Motley Fool Wealth Management LLC now owns 53,913 shares of the pharmaceutical company’s stock valued at $24,002,000 after acquiring an additional 20,864 shares in the last quarter. Motley Fool Asset Management LLC grew its holdings in shares of Vertex Pharmaceuticals by 13.5% in the second quarter. Motley Fool Asset Management LLC now owns 15,794 shares of the pharmaceutical company’s stock valued at $7,031,000 after acquiring an additional 1,875 shares in the last quarter. Finally, May Hill Capital LLC grew its holdings in shares of Vertex Pharmaceuticals by 6.3% in the second quarter. May Hill Capital LLC now owns 673 shares of the pharmaceutical company’s stock valued at $300,000 after acquiring an additional 40 shares in the last quarter. 90.96% of the stock is owned by institutional investors.

Vertex Pharmaceuticals Price Performance

Vertex Pharmaceuticals stock opened at $422.39 on Wednesday. Vertex Pharmaceuticals Incorporated has a one year low of $362.50 and a one year high of $519.88. The business has a fifty day moving average price of $400.19 and a 200-day moving average price of $433.48. The firm has a market capitalization of $108.30 billion, a P/E ratio of 30.19 and a beta of 0.43.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings data on Monday, August 4th. The pharmaceutical company reported $4.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.24 by $0.28. Vertex Pharmaceuticals had a return on equity of 23.91% and a net margin of 31.86%.The company had revenue of $2.94 billion for the quarter, compared to the consensus estimate of $2.90 billion. During the same quarter last year, the business posted ($12.83) earnings per share. The firm’s revenue was up 11.3% compared to the same quarter last year. Vertex Pharmaceuticals has set its FY 2025 guidance at EPS. Sell-side analysts expect that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current fiscal year.

Insider Activity

In other Vertex Pharmaceuticals news, Director Bruce I. Sachs acquired 5,000 shares of the stock in a transaction that occurred on Wednesday, August 6th. The shares were bought at an average price of $389.68 per share, for a total transaction of $1,948,400.00. Following the completion of the transaction, the director owned 45,000 shares of the company’s stock, valued at approximately $17,535,600. This represents a 12.50% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.20% of the company’s stock.

Wall Street Analyst Weigh In

VRTX has been the subject of a number of recent research reports. Leerink Partners raised Vertex Pharmaceuticals from a “market perform” rating to an “outperform” rating and decreased their target price for the stock from $458.00 to $456.00 in a research report on Thursday, September 25th. Wall Street Zen cut Vertex Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Friday, August 22nd. UBS Group set a $553.00 price target on Vertex Pharmaceuticals and gave the company a “buy” rating in a research report on Tuesday, August 5th. Royal Bank Of Canada dropped their price target on Vertex Pharmaceuticals from $430.00 to $405.00 and set a “sector perform” rating on the stock in a research report on Tuesday, August 5th. Finally, Leerink Partnrs raised Vertex Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a research report on Thursday, September 25th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and twelve have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $494.38.

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.