Princeton Capital Management LLC Lowers Stake in Vertex Pharmaceuticals Incorporated $VRTX

Princeton Capital Management LLC decreased its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 3.7% during the 2nd quarter, Holdings Channel.com reports. The firm owned 14,475 shares of the pharmaceutical company’s stock after selling 561 shares during the period. Vertex Pharmaceuticals accounts for about 1.9% of Princeton Capital Management LLC’s investment portfolio, making the stock its 11th largest holding. Princeton Capital Management LLC’s holdings in Vertex Pharmaceuticals were worth $6,444,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. Price T Rowe Associates Inc. MD boosted its holdings in shares of Vertex Pharmaceuticals by 72.5% in 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 last quarter. Jennison Associates LLC grew its position in Vertex Pharmaceuticals by 21.5% during the second quarter. Jennison Associates LLC now owns 6,151,505 shares of the pharmaceutical company’s stock valued at $2,738,650,000 after acquiring an additional 1,089,063 shares during the period. Nuveen LLC acquired a new stake in Vertex Pharmaceuticals during the first quarter worth about $484,053,000. Goldman Sachs Group Inc. raised its holdings in shares of Vertex Pharmaceuticals by 28.9% in 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 during the period. Finally, Alyeska Investment Group L.P. raised its holdings in shares of Vertex Pharmaceuticals by 456.9% in 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 period. 90.96% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently commented on VRTX shares. Leerink Partners upgraded shares of Vertex Pharmaceuticals from a “market perform” rating to an “outperform” rating and cut their price target for the company from $458.00 to $456.00 in a report on Thursday, September 25th. Cantor Fitzgerald reduced their price target on Vertex Pharmaceuticals from $535.00 to $485.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 5th. HC Wainwright dropped their price objective on shares of Vertex Pharmaceuticals from $550.00 to $478.00 and set a “buy” rating on the stock in a research note on Tuesday, August 5th. Wells Fargo & Company raised shares of Vertex Pharmaceuticals from an “equal weight” rating to an “overweight” rating and set a $460.00 price target for the company in a report on Wednesday, August 6th. Finally, Truist Financial set a $490.00 price objective on shares of Vertex Pharmaceuticals and gave the stock a “buy” rating in a report on Tuesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $489.45.

Vertex Pharmaceuticals Price Performance

NASDAQ VRTX opened at $416.25 on Friday. The company has a market capitalization of $106.72 billion, a price-to-earnings ratio of 29.75 and a beta of 0.36. Vertex Pharmaceuticals Incorporated has a 12 month low of $362.50 and a 12 month high of $519.88. The company’s fifty day moving average price is $404.18 and its two-hundred day moving average price is $430.46.

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, beating analysts’ consensus estimates of $4.58 by $0.22. The business had revenue of $3.08 billion for the quarter, compared to analyst estimates of $3.05 billion. Vertex Pharmaceuticals had a net margin of 31.86% and a return on equity of 23.91%. The company’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $4.38 EPS. Vertex Pharmaceuticals has set its FY 2025 guidance at EPS. As a group, analysts anticipate that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current year.

Vertex Pharmaceuticals 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.