Laffer Tengler Investments Inc. Sells 227 Shares of Vertex Pharmaceuticals Incorporated $VRTX

Laffer Tengler Investments Inc. lowered its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 5.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,926 shares of the pharmaceutical company’s stock after selling 227 shares during the quarter. Laffer Tengler Investments Inc.’s holdings in Vertex Pharmaceuticals were worth $1,748,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD grew its stake 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 period. Jennison Associates LLC lifted its position in shares of Vertex Pharmaceuticals by 21.5% during the 2nd quarter. Jennison Associates LLC now owns 6,151,505 shares of the pharmaceutical company’s stock worth $2,738,650,000 after buying an additional 1,089,063 shares during the period. Nuveen LLC acquired a new stake in Vertex Pharmaceuticals in the 1st quarter valued at $484,053,000. Goldman Sachs Group Inc. grew its position in Vertex Pharmaceuticals by 28.9% in the first quarter. Goldman Sachs Group Inc. now owns 1,775,194 shares of the pharmaceutical company’s stock valued at $860,650,000 after acquiring an additional 398,460 shares during the period. Finally, Alyeska Investment Group L.P. raised its stake in Vertex Pharmaceuticals by 456.9% during the first quarter. Alyeska Investment Group L.P. now owns 431,804 shares of the pharmaceutical company’s stock worth $209,347,000 after acquiring an additional 354,269 shares in the last quarter. Institutional investors and hedge funds own 90.96% of the company’s stock.

Analyst Upgrades and Downgrades

VRTX has been the topic of several recent analyst reports. Cantor Fitzgerald reduced their target price on shares of Vertex Pharmaceuticals from $535.00 to $485.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 5th. Canaccord Genuity Group cut their price target on shares of Vertex Pharmaceuticals from $424.00 to $411.00 and set a “hold” rating for the company in a report on Wednesday, August 6th. Weiss Ratings restated a “hold (c+)” rating on shares of Vertex Pharmaceuticals in a research report on Wednesday, October 8th. Raymond James Financial started coverage on shares of Vertex Pharmaceuticals in a research note on Tuesday, September 2nd. They set a “market perform” rating on the stock. Finally, Royal Bank Of Canada cut their target price on shares of Vertex Pharmaceuticals from $423.00 to $415.00 and set a “sector perform” rating for the company in a research note on Tuesday, November 4th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and twelve have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $489.10.

Vertex Pharmaceuticals Stock Down 1.6%

Shares of VRTX opened at $409.47 on Monday. The stock’s fifty day simple moving average is $404.55 and its 200-day simple moving average is $429.12. The firm has a market capitalization of $103.89 billion, a PE ratio of 29.27 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.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings data on Monday, November 3rd. The pharmaceutical company reported $4.80 earnings per share for the quarter, topping the consensus estimate of $4.58 by $0.22. The firm had revenue of $3.08 billion during the quarter, compared to analysts’ expectations of $3.05 billion. Vertex Pharmaceuticals had a return on equity of 23.91% and a net margin of 31.86%.The company’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same period in the previous year, the business posted $4.38 EPS. Vertex Pharmaceuticals has set its FY 2025 guidance at EPS. 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.