ICONIQ Capital LLC Has $601,000 Stake in Vertex Pharmaceuticals Incorporated $VRTX

Key Points

• ICONIQ Capital LLC raised its stake in Vertex Pharmaceuticals by 116.0% during Q1, increasing its holdings to 1,240 shares valued at approximately $601,000.
• Several institutional investors significantly increased their positions in Vertex, including GAMMA Investing LLC, which raised its stake by an astounding 60,572.3%.
• Vertex Pharmaceuticals reported a quarterly earnings per share (EPS) of $4.52, beating the consensus estimate of $4.24, with revenue rising 11.3% year-over-year to $2.94 billion.

ICONIQ Capital LLC raised its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 116.0% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 1,240 shares of the pharmaceutical company's stock after acquiring an additional 666 shares during the period. ICONIQ Capital LLC's holdings in Vertex Pharmaceuticals were worth $601,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. GAMMA Investing LLC raised its stake in shares of Vertex Pharmaceuticals by 60,572.3% during the 1st quarter. GAMMA Investing LLC now owns 2,425,070 shares of the pharmaceutical company's stock worth $1,175,722,000 after purchasing an additional 2,421,073 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in Vertex Pharmaceuticals by 72.5% in the 1st 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 acquiring an additional 1,226,527 shares during the period. Nuveen LLC bought a new stake in Vertex Pharmaceuticals in the 1st quarter valued at $484,053,000. Jennison Associates LLC raised its stake in Vertex Pharmaceuticals by 17.2% in 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 period. Finally, Lazard Asset Management LLC raised its stake in Vertex Pharmaceuticals by 6,487.2% in the 4th quarter. Lazard Asset Management LLC now owns 526,119 shares of the pharmaceutical company's stock valued at $211,867,000 after acquiring an additional 518,132 shares during the period. Institutional investors own 90.96% of the company's stock.

Insider Buying and Selling

In other Vertex Pharmaceuticals news, Director Bruce I. Sachs bought 5,000 shares of the firm's stock in a transaction that occurred on Wednesday, August 6th. The stock was acquired 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 directly owned 45,000 shares of the company's stock, valued at approximately $17,535,600. This trade represents a 12.50% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. 0.20% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

VRTX has been the topic of a number of research analyst reports. Wall Street Zen cut Vertex Pharmaceuticals from a "strong-buy" rating to a "buy" rating in a research note on Friday, August 22nd. Scotiabank reduced their target price on Vertex Pharmaceuticals from $442.00 to $438.00 and set a "sector perform" rating on the stock in a report on Tuesday, August 5th. William Blair restated an "outperform" rating on shares of Vertex Pharmaceuticals in a research report on Tuesday, May 6th. HC Wainwright dropped their target price on Vertex Pharmaceuticals from $550.00 to $478.00 and set a "buy" rating for the company in a research report on Tuesday, August 5th. Finally, Royal Bank Of Canada dropped their target price on 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. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and thirteen have assigned a Hold rating to the company's stock. According to MarketBeat, Vertex Pharmaceuticals currently has an average rating of "Moderate Buy" and an average price target of $497.10.

Vertex Pharmaceuticals Stock Performance

Shares of VRTX traded up $1.90 during mid-day trading on Wednesday, reaching $389.08. 1,911,174 shares of the company were exchanged, compared to its average volume of 2,537,219. Vertex Pharmaceuticals Incorporated has a 52 week low of $362.50 and a 52 week high of $519.88. The stock has a market capitalization of $99.76 billion, a PE ratio of 27.81 and a beta of 0.44. The business has a 50 day simple moving average of $435.47 and a two-hundred day simple moving average of $459.64.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last released its earnings results on Monday, August 4th. The pharmaceutical company reported $4.52 EPS 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 analysts' expectations of $2.90 billion. During the same quarter last year, the firm posted ($12.83) earnings per share. The firm's revenue was up 11.3% on a year-over-year basis. Vertex Pharmaceuticals has set its FY 2025 guidance at EPS. On average, analysts predict that Vertex Pharmaceuticals Incorporated will post 15.63 EPS 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.