SG Americas Securities LLC Has $51.48 Million Position in Vertex Pharmaceuticals Incorporated $VRTX

SG Americas Securities LLC grew its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 419.2% in the second quarter, HoldingsChannel reports. The fund owned 115,640 shares of the pharmaceutical company’s stock after buying an additional 93,367 shares during the period. SG Americas Securities LLC’s holdings in Vertex Pharmaceuticals were worth $51,483,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in VRTX. Meridian Wealth Management LLC lifted its stake in Vertex Pharmaceuticals by 14.0% during the second quarter. Meridian Wealth Management LLC now owns 707 shares of the pharmaceutical company’s stock worth $315,000 after purchasing an additional 87 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in Vertex Pharmaceuticals by 7.2% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 62,981 shares of the pharmaceutical company’s stock worth $28,039,000 after acquiring an additional 4,256 shares in the last quarter. Advisors Capital Management LLC lifted its holdings in shares of Vertex Pharmaceuticals by 4.3% in the second quarter. Advisors Capital Management LLC now owns 1,326 shares of the pharmaceutical company’s stock worth $590,000 after acquiring an additional 55 shares during the last quarter. Grandfield & Dodd LLC boosted its stake in shares of Vertex Pharmaceuticals by 0.8% in the 2nd quarter. Grandfield & Dodd LLC now owns 18,287 shares of the pharmaceutical company’s stock valued at $8,141,000 after purchasing an additional 141 shares in the last quarter. Finally, ABN Amro Investment Solutions bought a new stake in shares of Vertex Pharmaceuticals during the 2nd quarter valued at approximately $58,006,000. 90.96% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. HC Wainwright cut their price objective on Vertex Pharmaceuticals from $550.00 to $478.00 and set a “buy” rating on the stock in a report on Tuesday, August 5th. Morgan Stanley cut their price target on Vertex Pharmaceuticals from $439.00 to $438.00 and set an “equal weight” rating on the stock in a research note on Friday, October 10th. Stifel Nicolaus lowered their price objective on Vertex Pharmaceuticals from $455.00 to $445.00 and set a “hold” rating for the company in a research note on Tuesday, November 4th. 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 on the stock in a research report on Tuesday, November 4th. Finally, Leerink Partners upgraded shares of Vertex Pharmaceuticals from a “market perform” rating to an “outperform” rating and decreased their price target for the company from $458.00 to $456.00 in a research report on Thursday, September 25th. Two analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and eleven have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $491.95.

Vertex Pharmaceuticals Price Performance

NASDAQ:VRTX opened at $437.15 on Friday. The company has a market cap of $110.91 billion, a PE ratio of 31.25 and a beta of 0.36. Vertex Pharmaceuticals Incorporated has a one year low of $362.50 and a one year high of $519.68. The firm has a 50-day moving average of $408.04 and a 200-day moving average of $427.84.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its earnings results on Monday, November 3rd. The pharmaceutical company reported $4.80 EPS for the quarter, beating 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 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 prior year, the company posted $4.38 earnings per share. The firm’s revenue for the quarter was up 11.0% on a year-over-year basis. Vertex Pharmaceuticals has set its FY 2025 guidance at EPS. On average, equities research analysts expect that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current fiscal year.

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.