Geode Capital Management LLC Purchases 166,987 Shares of Vertex Pharmaceuticals Incorporated $VRTX

Geode Capital Management LLC increased its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 2.9% during the 2nd quarter, Holdings Channel.com reports. The fund owned 5,928,747 shares of the pharmaceutical company’s stock after acquiring an additional 166,987 shares during the period. Geode Capital Management LLC’s holdings in Vertex Pharmaceuticals were worth $2,627,135,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Activest Wealth Management bought a new stake in shares of Vertex Pharmaceuticals in the 1st quarter valued at approximately $25,000. Clal Insurance Enterprises Holdings Ltd grew its position in Vertex Pharmaceuticals by 450.0% in the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 55 shares of the pharmaceutical company’s stock valued at $27,000 after acquiring an additional 45 shares during the period. Access Investment Management LLC bought a new position in shares of Vertex Pharmaceuticals during the second quarter valued at $27,000. Legacy Investment Solutions LLC bought a new position in shares of Vertex Pharmaceuticals during the second quarter valued at $29,000. Finally, Flaharty Asset Management LLC bought a new stake in shares of Vertex Pharmaceuticals in the 1st quarter worth about $32,000. Institutional investors own 90.96% of the company’s stock.

Vertex Pharmaceuticals Trading Up 1.9%

NASDAQ VRTX opened at $429.22 on Wednesday. Vertex Pharmaceuticals Incorporated has a 12 month low of $362.50 and a 12 month high of $519.68. The company has a market capitalization of $108.90 billion, a PE ratio of 30.68 and a beta of 0.36. The stock has a 50-day simple moving average of $405.72 and a 200 day simple moving average of $428.16.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released 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. Vertex Pharmaceuticals had a net margin of 31.86% and a return on equity of 23.91%. The business had revenue of $3.08 billion for the quarter, compared to analyst estimates of $3.05 billion. During the same quarter last year, the firm earned $4.38 EPS. Vertex Pharmaceuticals’s quarterly revenue was up 11.0% compared to the same quarter last year. Vertex Pharmaceuticals has set its FY 2025 guidance at EPS. As a group, sell-side analysts predict that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have commented on VRTX shares. Stifel Nicolaus reduced their price target on shares of Vertex Pharmaceuticals from $455.00 to $445.00 and set a “hold” rating on the stock in a research report on Tuesday, November 4th. Wells Fargo & Company upgraded Vertex Pharmaceuticals from an “equal weight” rating to an “overweight” rating and set a $460.00 target price for the company in a research note on Wednesday, August 6th. Scotiabank reduced their price target on shares of Vertex Pharmaceuticals from $442.00 to $438.00 and set a “sector perform” rating on the stock in a research report on Tuesday, August 5th. Leerink Partnrs upgraded shares of Vertex Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a research report on Thursday, September 25th. Finally, UBS Group dropped their price objective on shares of Vertex Pharmaceuticals from $553.00 to $546.00 and set a “buy” rating for the company in a research report on Friday, November 7th. 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. Based on data from MarketBeat.com, Vertex Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average price target of $489.10.

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.