Vertex Pharmaceuticals Incorporated $VRTX Shares Bought by Alliancebernstein L.P.

Key Points

• Alliancebernstein L.P. increased its holdings in Vertex Pharmaceuticals by 0.9%, now owning approximately 3.95 million shares worth nearly $1.92 billion, making it the fund's 21st largest position.
• Several institutional investors have made significant investments recently, with GAMMA Investing LLC boosting its holdings by over 60,000%, now owning 2.42 million shares valued at $1.17 billion.
• Vertex Pharmaceuticals recently reported quarterly earnings of $4.52 per share, exceeding analysts' expectations, with revenue increasing by 11.3% to $2.94 billion from the previous year.

Alliancebernstein L.P. lifted its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 0.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,953,512 shares of the pharmaceutical company's stock after purchasing an additional 33,492 shares during the period. Vertex Pharmaceuticals comprises about 0.7% of Alliancebernstein L.P.'s investment portfolio, making the stock its 21st largest position. Alliancebernstein L.P. owned 1.54% of Vertex Pharmaceuticals worth $1,916,742,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in VRTX. Aries Wealth Management purchased a new stake in Vertex Pharmaceuticals in the first quarter worth about $293,000. Polar Asset Management Partners Inc. purchased a new stake in Vertex Pharmaceuticals in the fourth quarter worth about $22,954,000. Brighton Jones LLC lifted its stake in Vertex Pharmaceuticals by 45.0% in the first quarter. Brighton Jones LLC now owns 6,421 shares of the pharmaceutical company's stock worth $3,113,000 after acquiring an additional 1,994 shares during the period. GAMMA Investing LLC lifted its stake in Vertex Pharmaceuticals by 25.1% in the first quarter. GAMMA Investing LLC now owns 5,002 shares of the pharmaceutical company's stock worth $2,425,000 after acquiring an additional 1,005 shares during the period. Finally, Stanley Laman Group Ltd. purchased a new stake in Vertex Pharmaceuticals in the first quarter worth about $486,000. 90.96% of the stock is currently owned by institutional investors.

Insider Activity

In other Vertex Pharmaceuticals news, Director Bruce I. Sachs bought 5,000 shares of the stock in a transaction on Wednesday, August 6th. The shares were bought 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 $17,535,600. This trade represents a 12.50% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.20% of the stock is owned by company insiders.

Vertex Pharmaceuticals Stock Down 0.2%

Shares of VRTX traded down $0.81 during mid-day trading on Friday, hitting $396.12. 1,171,066 shares of the company traded hands, compared to its average volume of 1,677,311. Vertex Pharmaceuticals Incorporated has a 1-year low of $362.50 and a 1-year high of $519.88. The company has a market capitalization of $101.56 billion, a PE ratio of 28.31 and a beta of 0.44. The business has a 50 day moving average of $428.49 and a 200 day moving average of $456.39.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last issued its quarterly earnings results on Monday, August 4th. The pharmaceutical company reported $4.52 earnings per share for the quarter, topping the consensus estimate of $4.24 by $0.28. The company had revenue of $2.94 billion for 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%. Vertex Pharmaceuticals's quarterly revenue was up 11.3% on a year-over-year basis. During the same quarter in the prior year, the company earned ($12.83) EPS. Vertex Pharmaceuticals has set its FY 2025 guidance at EPS. As a group, research analysts expect that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently weighed in on VRTX shares. HC Wainwright lowered their price objective 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. Stifel Nicolaus decreased their price target on shares of Vertex Pharmaceuticals from $494.00 to $455.00 and set a "hold" rating for the company in a research report on Tuesday, August 5th. Canaccord Genuity Group decreased their price target on shares of Vertex Pharmaceuticals from $424.00 to $411.00 and set a "hold" rating for the company in a research report on Wednesday, August 6th. Royal Bank Of Canada decreased their price target on shares of Vertex Pharmaceuticals from $430.00 to $405.00 and set a "sector perform" rating for the company in a research report on Tuesday, August 5th. Finally, Wells Fargo & Company raised shares of Vertex Pharmaceuticals from an "equal weight" rating to an "overweight" rating and set a $460.00 price target for the company in a research report on Wednesday, August 6th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and thirteen have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $497.10.

Vertex Pharmaceuticals 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.