Generali Asset Management SPA SGR Has $7.40 Million Position in Vertex Pharmaceuticals Incorporated $VRTX

Key Points

• Generali Asset Management SPA SGR reduced its stake in Vertex Pharmaceuticals by 9.3% during the second quarter, yielding a total value of approximately $7.40 million in holdings.
• Vertex Pharmaceuticals reported better-than-expected earnings of $4.52 per share for the last quarter, surpassing analysts' estimates and reflecting a year-over-year revenue growth of 11.3%.
• Institutional investors now own 90.96% of Vertex Pharmaceuticals, with significant stake increases from several hedge funds in recent quarters, indicating strong institutional confidence in the company.

Generali Asset Management SPA SGR decreased its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 9.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 16,627 shares of the pharmaceutical company's stock after selling 1,705 shares during the quarter. Generali Asset Management SPA SGR's holdings in Vertex Pharmaceuticals were worth $7,402,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Price T Rowe Associates Inc. MD increased its position in 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 buying an additional 1,226,527 shares during the last quarter. Nuveen LLC acquired a new position in shares of Vertex Pharmaceuticals during the 1st quarter valued at about $484,053,000. Jennison Associates LLC increased its holdings in shares of Vertex Pharmaceuticals by 17.2% during the 1st quarter. Jennison Associates LLC now owns 5,062,442 shares of the pharmaceutical company's stock valued at $2,454,373,000 after acquiring an additional 744,680 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Vertex Pharmaceuticals by 28.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,775,194 shares of the pharmaceutical company's stock valued at $860,650,000 after acquiring an additional 398,460 shares during the last quarter. Finally, Alyeska Investment Group L.P. grew its holdings in Vertex Pharmaceuticals by 456.9% during the first quarter. Alyeska Investment Group L.P. now owns 431,804 shares of the pharmaceutical company's stock valued at $209,347,000 after purchasing an additional 354,269 shares during the last quarter. Institutional investors and hedge funds own 90.96% of the company's stock.

Vertex Pharmaceuticals Stock Down 1.0%

VRTX stock opened at $407.90 on Thursday. 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 $104.58 billion, a PE ratio of 29.16 and a beta of 0.43. The business's 50-day simple moving average is $393.80 and its 200 day simple moving average is $437.75.

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 analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $2.90 billion. During the same period last year, the business earned ($12.83) earnings per share. The firm'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. On average, equities research analysts anticipate that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current year.

Insider Transactions at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, Director Bruce I. Sachs purchased 5,000 shares of the stock in a transaction on Wednesday, August 6th. The shares were purchased at an average price of $389.68 per share, with a total value of $1,948,400.00. Following the acquisition, the director directly owned 45,000 shares of the company's stock, valued at $17,535,600. This represents a 12.50% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.20% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Stifel Nicolaus lowered their price target on Vertex Pharmaceuticals from $494.00 to $455.00 and set a "hold" rating on the stock in a report on Tuesday, August 5th. JPMorgan Chase & Co. raised their target price on shares of Vertex Pharmaceuticals from $517.00 to $530.00 and gave the company an "overweight" rating in a research note on Wednesday, October 8th. BMO Capital Markets set a $530.00 price target on Vertex Pharmaceuticals and gave the company an "outperform" rating in a research report on Tuesday, August 5th. Raymond James Financial initiated coverage on Vertex Pharmaceuticals in a research report on Tuesday, September 2nd. They issued a "market perform" rating on the stock. Finally, HC Wainwright lowered their target price on Vertex Pharmaceuticals from $550.00 to $478.00 and set a "buy" rating on the stock in a report on Tuesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and twelve have issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $494.38.

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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