Alaethes Wealth LLC Invests $1.48 Million in Vertex Pharmaceuticals Incorporated $VRTX

Key Points

• Alaethes Wealth LLC invested approximately $1.48 million in Vertex Pharmaceuticals, acquiring 3,051 shares in the first quarter.
• Vertex Pharmaceuticals reported earnings of $4.52 per share, exceeding expectations, with an 11.3% year-over-year revenue increase to $2.94 billion.
• Institutional investors now own 90.96% of Vertex Pharmaceuticals' stock, indicating strong institutional confidence in the company.

Alaethes Wealth LLC acquired a new stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 3,051 shares of the pharmaceutical company's stock, valued at approximately $1,479,000.

Several other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in Vertex Pharmaceuticals by 1.0% in the first quarter. Vanguard Group Inc. now owns 23,491,161 shares of the pharmaceutical company's stock valued at $11,388,985,000 after purchasing an additional 232,873 shares during the period. Jennison Associates LLC increased its stake in shares of Vertex Pharmaceuticals by 17.2% during the first quarter. Jennison Associates LLC now owns 5,062,442 shares of the pharmaceutical company's stock worth $2,454,373,000 after purchasing an additional 744,680 shares in the last quarter. Alliancebernstein L.P. increased its stake 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 purchasing an additional 33,492 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Vertex Pharmaceuticals by 72.5% during the first 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 purchasing an additional 1,226,527 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Vertex Pharmaceuticals by 9.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,559,476 shares of the pharmaceutical company's stock worth $1,240,885,000 after purchasing an additional 230,257 shares in the last quarter. 90.96% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, Director Bruce I. Sachs purchased 5,000 shares of the firm's stock in a transaction dated Wednesday, August 6th. The shares were acquired at an average price of $389.68 per share, with a total value of $1,948,400.00. Following the purchase, the director directly owned 45,000 shares in the company, valued at approximately $17,535,600. This trade represents a 12.50% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. 0.20% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Cantor Fitzgerald reduced their target price on Vertex Pharmaceuticals from $535.00 to $485.00 and set an "overweight" rating for the company in a report on Tuesday, August 5th. JPMorgan Chase & Co. increased their target price on Vertex Pharmaceuticals from $515.00 to $517.00 and gave the company an "overweight" rating in a report on Monday, July 14th. BMO Capital Markets set a $530.00 target price on Vertex Pharmaceuticals and gave the company an "outperform" rating in a report on Tuesday, August 5th. Evercore ISI reduced their target price on Vertex Pharmaceuticals from $510.00 to $475.00 and set an "outperform" rating for the company in a report on Thursday. Finally, Stifel Nicolaus reduced their target price on Vertex Pharmaceuticals from $494.00 to $455.00 and set a "hold" rating for the company in a report on Tuesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and thirteen have given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $496.05.

Vertex Pharmaceuticals Stock Performance

Shares of NASDAQ VRTX traded up $8.82 during midday trading on Thursday, reaching $397.37. 1,329,815 shares of the stock were exchanged, compared to its average volume of 1,405,562. The company has a 50 day simple moving average of $423.87 and a 200 day simple moving average of $454.15. The stock has a market capitalization of $101.88 billion, a P/E ratio of 28.40 and a beta of 0.44. Vertex Pharmaceuticals Incorporated has a twelve month low of $362.50 and a twelve month high of $519.88.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last announced its quarterly earnings results on Monday, August 4th. The pharmaceutical company reported $4.52 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.24 by $0.28. The business had revenue of $2.94 billion during the quarter, compared to the consensus estimate of $2.90 billion. Vertex Pharmaceuticals had a net margin of 31.86% and a return on equity of 23.91%. The business's revenue was up 11.3% compared to the same quarter last year. During the same quarter last year, the firm earned ($12.83) EPS. Vertex Pharmaceuticals has set its FY 2025 guidance at EPS. On average, research analysts expect that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current 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.