Vertex Pharmaceuticals Incorporated $VRTX Shares Bought by Howe & Rusling Inc.

Howe & Rusling Inc. grew its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 3.5% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 9,444 shares of the pharmaceutical company’s stock after purchasing an additional 318 shares during the quarter. Howe & Rusling Inc.’s holdings in Vertex Pharmaceuticals were worth $4,204,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. grew its stake 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 worth $10,673,126,000 after buying an additional 482,616 shares during the last quarter. Jennison Associates LLC boosted its holdings in shares of Vertex Pharmaceuticals by 21.5% in the second quarter. Jennison Associates LLC now owns 6,151,505 shares of the pharmaceutical company’s stock valued at $2,738,650,000 after acquiring an additional 1,089,063 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Vertex Pharmaceuticals by 2.9% in the second quarter. Geode Capital Management LLC now owns 5,928,747 shares of the pharmaceutical company’s stock valued at $2,627,135,000 after acquiring an additional 166,987 shares during the period. Alliancebernstein L.P. grew its position in shares of Vertex Pharmaceuticals by 0.9% during the first quarter. Alliancebernstein L.P. now owns 3,953,512 shares of the pharmaceutical company’s stock worth $1,916,742,000 after acquiring an additional 33,492 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its holdings 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 acquiring an additional 1,226,527 shares during the period. Institutional investors and hedge funds own 90.96% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. HC Wainwright decreased their price target on shares of Vertex Pharmaceuticals from $550.00 to $478.00 and set a “buy” rating for the company in a research note on Tuesday, August 5th. Leerink Partnrs raised shares of Vertex Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a report on Thursday, September 25th. UBS Group lowered their price target on Vertex Pharmaceuticals from $553.00 to $546.00 and set a “buy” rating on the stock in a report on Friday, November 7th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Vertex Pharmaceuticals in a research note on Wednesday, October 8th. Finally, Canaccord Genuity Group lowered their target price on Vertex Pharmaceuticals from $424.00 to $411.00 and set a “hold” rating on the stock in a research note on Wednesday, August 6th. Two equities research 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. According to MarketBeat, Vertex Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus price target of $491.95.

Insiders Place Their Bets

In other Vertex Pharmaceuticals news, Chairman Jeffrey M. Leiden sold 53,604 shares of the stock in a transaction on Friday, November 14th. The stock was sold at an average price of $440.72, for a total value of $23,624,354.88. Following the completion of the transaction, the chairman owned 24,026 shares in the company, valued at approximately $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 SEC, which can be accessed through this link. 0.20% of the stock is owned by corporate insiders.

Vertex Pharmaceuticals Stock Down 3.3%

NASDAQ VRTX opened at $421.03 on Thursday. The stock has a market capitalization of $106.82 billion, a P/E ratio of 30.10 and a beta of 0.36. Vertex Pharmaceuticals Incorporated has a 52-week low of $362.50 and a 52-week high of $519.68. The firm has a 50-day moving average price of $410.25 and a 200 day moving average price of $425.78.

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, beating analysts’ consensus estimates of $4.58 by $0.22. The company had revenue of $3.08 billion for the quarter, compared to analyst estimates of $3.05 billion. Vertex Pharmaceuticals had a return on equity of 23.91% and a net margin of 31.86%.The firm’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $4.38 EPS. 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.

Vertex Pharmaceuticals Company 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.