Sterling Capital Management LLC Increases Position in Vertex Pharmaceuticals Incorporated $VRTX

Sterling Capital Management LLC grew its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 65.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,444 shares of the pharmaceutical company’s stock after purchasing an additional 8,070 shares during the quarter. Sterling Capital Management LLC’s holdings in Vertex Pharmaceuticals were worth $9,102,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in VRTX. Activest Wealth Management purchased a new stake in Vertex Pharmaceuticals in the 1st quarter valued at $25,000. Clal Insurance Enterprises Holdings Ltd increased its position in Vertex Pharmaceuticals by 450.0% during the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 55 shares of the pharmaceutical company’s stock worth $27,000 after purchasing an additional 45 shares during the last quarter. Access Investment Management LLC purchased a new position in Vertex Pharmaceuticals during the second quarter worth about $27,000. Flaharty Asset Management LLC acquired a new stake in shares of Vertex Pharmaceuticals during the 1st quarter worth approximately $32,000. Finally, American National Bank & Trust lifted its holdings in Vertex Pharmaceuticals by 515.4% in the second quarter. American National Bank & Trust now owns 80 shares of the pharmaceutical company’s stock valued at $36,000 after acquiring an additional 67 shares during the last quarter. Institutional investors and hedge funds own 90.96% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on VRTX shares. Weiss Ratings reiterated a “hold (c+)” rating on shares of Vertex Pharmaceuticals in a report on Wednesday, October 8th. Leerink Partnrs raised shares of Vertex Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a research note on Thursday, September 25th. Raymond James Financial began coverage on shares of Vertex Pharmaceuticals in a research report on Tuesday, September 2nd. They set a “market perform” rating for the company. Guggenheim dropped their target price on shares of Vertex Pharmaceuticals from $558.00 to $546.00 and set a “buy” rating for the company in a report on Wednesday, August 6th. Finally, HC Wainwright decreased their price target on Vertex Pharmaceuticals from $550.00 to $478.00 and set a “buy” rating on the stock in a research note on Tuesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and twelve have issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $489.45.

Vertex Pharmaceuticals Stock Performance

VRTX stock opened at $416.25 on Friday. The company’s 50 day moving average price is $404.18 and its 200 day moving average price is $430.46. The firm 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 fifty-two week low of $362.50 and a fifty-two week high of $519.88.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings results on Monday, November 3rd. The pharmaceutical company reported $4.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.58 by $0.22. Vertex Pharmaceuticals had a net margin of 31.86% and a return on equity of 23.91%. The company had revenue of $3.08 billion during the quarter, compared to the consensus estimate of $3.05 billion. During the same quarter in the previous year, the firm earned $4.38 earnings per share. The firm’s quarterly revenue was up 11.0% on a year-over-year basis. Vertex Pharmaceuticals has set its FY 2025 guidance at EPS. Equities analysts forecast that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current fiscal 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.