Portside Wealth Group LLC Grows Stake in Vertex Pharmaceuticals Incorporated $VRTX

Portside Wealth Group LLC lifted its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 8.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,198 shares of the pharmaceutical company’s stock after buying an additional 253 shares during the period. Portside Wealth Group LLC’s holdings in Vertex Pharmaceuticals were worth $1,424,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of VRTX. Price T Rowe Associates Inc. MD boosted its holdings in 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 worth $1,414,331,000 after acquiring 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 second quarter. Jennison Associates LLC now owns 6,151,505 shares of the pharmaceutical company’s stock worth $2,738,650,000 after purchasing an additional 1,089,063 shares in the last quarter. Nuveen LLC purchased a new position in shares of Vertex Pharmaceuticals in the first quarter valued at $484,053,000. Vanguard Group Inc. grew its holdings in Vertex Pharmaceuticals by 2.1% during the 2nd quarter. Vanguard Group Inc. now owns 23,973,777 shares of the pharmaceutical company’s stock valued at $10,673,126,000 after purchasing an additional 482,616 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in Vertex Pharmaceuticals by 28.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,775,194 shares of the pharmaceutical company’s stock worth $860,650,000 after buying an additional 398,460 shares during the period. Institutional investors and hedge funds own 90.96% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Weiss Ratings restated a “hold (c+)” rating on shares of Vertex Pharmaceuticals in a research note on Wednesday, October 8th. Cantor Fitzgerald lowered their price objective on Vertex Pharmaceuticals from $535.00 to $485.00 and set an “overweight” rating for the company in a research note on Tuesday, August 5th. Evercore ISI cut their target price on Vertex Pharmaceuticals from $510.00 to $475.00 and set an “outperform” rating on the stock in a research report on Thursday, September 11th. HC Wainwright reduced their target price on Vertex Pharmaceuticals from $550.00 to $478.00 and set a “buy” rating for the company in a research note on Tuesday, August 5th. Finally, Truist Financial set a $490.00 price target on shares of Vertex Pharmaceuticals and gave the stock a “buy” rating in a research note on Tuesday, August 5th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and eleven have given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $491.95.

Insider Buying and Selling at Vertex Pharmaceuticals

In related news, Chairman Jeffrey M. Leiden sold 53,604 shares of the stock in a transaction dated Friday, November 14th. The shares were sold at an average price of $440.72, for a total transaction of $23,624,354.88. Following the sale, the chairman owned 24,026 shares in the company, valued at $10,588,738.72. This represents a 69.05% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.20% of the stock is currently owned by corporate insiders.

Vertex Pharmaceuticals Trading Down 0.7%

Shares of NASDAQ VRTX opened at $434.02 on Tuesday. The company has a market capitalization of $110.12 billion, a price-to-earnings ratio of 31.02 and a beta of 0.36. Vertex Pharmaceuticals Incorporated has a twelve month low of $362.50 and a twelve month high of $519.68. The business has a 50 day simple moving average of $408.82 and a 200-day simple moving average of $426.27.

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