Allspring Global Investments Holdings LLC Boosts Stock Position in Vertex Pharmaceuticals Incorporated $VRTX

Allspring Global Investments Holdings LLC grew its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 16.6% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 126,540 shares of the pharmaceutical company's stock after buying an additional 18,011 shares during the quarter. Allspring Global Investments Holdings LLC's holdings in Vertex Pharmaceuticals were worth $57,216,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in VRTX. Brighton Jones LLC increased its position in shares of Vertex Pharmaceuticals by 15.0% in the fourth quarter. Brighton Jones LLC now owns 4,427 shares of the pharmaceutical company's stock valued at $1,783,000 after buying an additional 579 shares in the last quarter. GAMMA Investing LLC increased its position in shares of Vertex Pharmaceuticals by 25.1% in the first quarter. GAMMA Investing LLC now owns 5,002 shares of the pharmaceutical company's stock valued at $2,425,000 after buying an additional 1,005 shares in the last quarter. Dynamic Advisor Solutions LLC purchased a new stake in shares of Vertex Pharmaceuticals in the first quarter valued at approximately $1,353,000. Ritholtz Wealth Management increased its position in shares of Vertex Pharmaceuticals by 14.2% in the first quarter. Ritholtz Wealth Management now owns 3,459 shares of the pharmaceutical company's stock valued at $1,677,000 after buying an additional 430 shares in the last quarter. Finally, Hanson & Doremus Investment Management increased its position in shares of Vertex Pharmaceuticals by 428.6% in the first quarter. Hanson & Doremus Investment Management now owns 370 shares of the pharmaceutical company's stock valued at $179,000 after buying an additional 300 shares in the last quarter. 90.96% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Bruce I. Sachs acquired 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 completion of the purchase, the director owned 45,000 shares of the company's stock, valued at approximately $17,535,600. This represents a 12.50% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.20% of the company's stock.

Analysts Set New Price Targets

VRTX has been the topic of a number of research analyst reports. Leerink Partnrs raised Vertex Pharmaceuticals from a "hold" rating to a "strong-buy" rating in a research note on Thursday, September 25th. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Vertex Pharmaceuticals in a research note on Wednesday, October 8th. Morgan Stanley lowered 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. Guggenheim lowered their price target on Vertex Pharmaceuticals from $558.00 to $546.00 and set a "buy" rating on the stock in a research note on Wednesday, August 6th. Finally, HC Wainwright lowered their price target on Vertex Pharmaceuticals from $550.00 to $478.00 and set a "buy" rating on the stock in a research note on Tuesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and twelve have assigned a Hold rating to the stock. According to MarketBeat.com, Vertex Pharmaceuticals presently has an average rating of "Moderate Buy" and an average price target of $494.38.

Vertex Pharmaceuticals Stock Performance

NASDAQ VRTX opened at $412.22 on Wednesday. The stock's fifty day moving average is $393.35 and its two-hundred day moving average is $437.96. The firm has a market capitalization of $105.69 billion, a P/E ratio of 29.47 and a beta of 0.43. Vertex Pharmaceuticals Incorporated has a fifty-two week low of $362.50 and a fifty-two week high of $519.88.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last released its quarterly earnings data on Monday, August 4th. The pharmaceutical company reported $4.52 earnings per share for the quarter, topping analysts' consensus estimates of $4.24 by $0.28. The company had revenue of $2.94 billion for the quarter, compared to analyst estimates of $2.90 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 11.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($12.83) earnings per share. Vertex Pharmaceuticals has set its FY 2025 guidance at EPS. As a group, sell-side analysts forecast that Vertex Pharmaceuticals Incorporated will post 15.63 EPS 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.

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