DekaBank Deutsche Girozentrale Boosts Stock Position in Vertex Pharmaceuticals Incorporated $VRTX

Key Points

• DekaBank Deutsche Girozentrale increased its stake in Vertex Pharmaceuticals by 3.1%, owning 506,457 shares valued at approximately $223.48 million as of the end of the second quarter.
• Vertex Pharmaceuticals reported a net revenue of $2.94 billion for the recent quarter, exceeding the expected $2.90 billion, and achieved earnings per share of $4.52, surpassing estimates.
• As of now, around 90.96% of Vertex Pharmaceuticals' stock is owned by institutional investors, reflecting strong interest from the investment community.

DekaBank Deutsche Girozentrale lifted its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 3.1% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 506,457 shares of the pharmaceutical company's stock after purchasing an additional 15,328 shares during the quarter. DekaBank Deutsche Girozentrale owned 0.20% of Vertex Pharmaceuticals worth $223,484,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. grew its holdings in shares of 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 in the last quarter. Jennison Associates LLC grew its holdings in shares of Vertex Pharmaceuticals by 17.2% in the first quarter. Jennison Associates LLC now owns 5,062,442 shares of the pharmaceutical company's stock valued at $2,454,373,000 after purchasing an additional 744,680 shares in the last quarter. Alliancebernstein L.P. grew its holdings in shares of Vertex Pharmaceuticals by 0.9% in the first quarter. Alliancebernstein L.P. now owns 3,953,512 shares of the pharmaceutical company's stock valued at $1,916,742,000 after purchasing an additional 33,492 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Vertex Pharmaceuticals by 72.5% in the first 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 purchasing an additional 1,226,527 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Vertex Pharmaceuticals by 9.9% in 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 valued at $1,240,885,000 after purchasing an additional 230,257 shares in the last quarter. 90.96% of the stock is owned by hedge funds and other institutional investors.

Vertex Pharmaceuticals Trading Up 0.5%

NASDAQ:VRTX opened at $419.10 on Tuesday. Vertex Pharmaceuticals Incorporated has a twelve month low of $362.50 and a twelve month high of $519.88. The company has a market cap of $107.45 billion, a price-to-earnings ratio of 29.96 and a beta of 0.43. The stock has a fifty day simple moving average of $396.36 and a 200-day simple moving average of $435.71.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last released its 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. Vertex Pharmaceuticals had a return on equity of 23.91% and a net margin of 31.86%.The business had revenue of $2.94 billion during the quarter, compared to the consensus estimate of $2.90 billion. During the same period last year, the company earned ($12.83) earnings per share. The business's revenue for the quarter was up 11.3% compared to the same quarter last year. Vertex Pharmaceuticals has set its FY 2025 guidance at EPS. As a group, equities research analysts predict that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have commented on the stock. Citigroup lifted their price objective on shares of Vertex Pharmaceuticals from $550.00 to $575.00 and gave the stock a "buy" rating in a research note on Thursday, October 2nd. Canaccord Genuity Group dropped their price objective on shares of Vertex Pharmaceuticals from $424.00 to $411.00 and set a "hold" rating for the company in a research note on Wednesday, August 6th. Leerink Partners raised shares of Vertex Pharmaceuticals from a "market perform" rating to an "outperform" rating and dropped their price objective for the stock from $458.00 to $456.00 in a research note on Thursday, September 25th. Guggenheim dropped their price objective on shares of Vertex Pharmaceuticals from $558.00 to $546.00 and set a "buy" rating for the company in a research note on Wednesday, August 6th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Vertex Pharmaceuticals from $517.00 to $530.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and twelve have issued a Hold rating to the company's stock. According to MarketBeat, Vertex Pharmaceuticals presently has an average rating of "Moderate Buy" and an average target price of $494.38.

Insider Buying and Selling at Vertex Pharmaceuticals

In other news, Director Bruce I. Sachs acquired 5,000 shares of the firm's stock in a transaction that occurred on Wednesday, August 6th. The stock was purchased at an average cost of $389.68 per share, for a total transaction of $1,948,400.00. Following the completion of the acquisition, the director directly owned 45,000 shares of the company's stock, valued at $17,535,600. The trade was a 12.50% increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.20% of the stock is owned by insiders.

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.

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