IFM Investors Pty Ltd Purchases 1,781 Shares of Vertex Pharmaceuticals Incorporated $VRTX

Key Points

• IFM Investors Pty Ltd increased its stake in Vertex Pharmaceuticals by 3.7%, acquiring an additional 1,781 shares during Q2, bringing their total holdings to 50,317 shares valued at approximately $22.4 million.
• Vertex Pharmaceuticals has received mixed reviews from analysts, with target prices ranging from $455.00 to $517.00 and a consensus rating of "Moderate Buy."
• The company's quarterly earnings report showed an EPS of $4.52, surpassing expectations and reflecting an 11.3% increase in revenue year-over-year.

IFM Investors Pty Ltd raised its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 3.7% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 50,317 shares of the pharmaceutical company's stock after acquiring an additional 1,781 shares during the period. IFM Investors Pty Ltd's holdings in Vertex Pharmaceuticals were worth $22,401,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. GAMMA Investing LLC increased its holdings in shares of Vertex Pharmaceuticals by 60,572.3% during the first quarter. GAMMA Investing LLC now owns 2,425,070 shares of the pharmaceutical company's stock worth $1,175,722,000 after buying an additional 2,421,073 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in 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 during the period. Nuveen LLC acquired a new stake in Vertex Pharmaceuticals in the first quarter valued at $484,053,000. Jennison Associates LLC increased its holdings in 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 during the period. Finally, Goldman Sachs Group Inc. increased its holdings in Vertex Pharmaceuticals by 28.9% in the first quarter. Goldman Sachs Group Inc. now owns 1,775,194 shares of the pharmaceutical company's stock valued at $860,650,000 after purchasing an additional 398,460 shares during the period. 90.96% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Vertex Pharmaceuticals news, Director Bruce I. Sachs acquired 5,000 shares of Vertex Pharmaceuticals stock in a transaction that occurred on Wednesday, August 6th. The stock was acquired at an average cost of $389.68 per share, for a total transaction of $1,948,400.00. Following 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 ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.20% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on VRTX shares. Raymond James Financial started coverage on Vertex Pharmaceuticals in a report on Tuesday, September 2nd. They issued a "market perform" rating for the company. Royal Bank Of Canada cut their price target on shares of Vertex Pharmaceuticals from $430.00 to $405.00 and set a "sector perform" rating on the stock in a research report on Tuesday, August 5th. Truist Financial set a $490.00 price target on shares of Vertex Pharmaceuticals and gave the company a "buy" rating in a research report on Tuesday, August 5th. JPMorgan Chase & Co. upped their price target on shares of Vertex Pharmaceuticals from $515.00 to $517.00 and gave the company an "overweight" rating in a research report on Monday, July 14th. Finally, Stifel Nicolaus cut their price target on shares of Vertex Pharmaceuticals from $494.00 to $455.00 and set a "hold" rating on the stock in a research report on Tuesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and thirteen have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $496.05.

Vertex Pharmaceuticals Stock Performance

NASDAQ:VRTX traded down $2.68 on Tuesday, hitting $380.45. The stock had a trading volume of 483,905 shares, compared to its average volume of 1,633,274. The stock has a market cap of $97.54 billion, a P/E ratio of 27.14 and a beta of 0.44. Vertex Pharmaceuticals Incorporated has a 1 year low of $362.50 and a 1 year high of $519.88. The firm's fifty day simple moving average is $412.66 and its two-hundred day simple moving average is $449.11.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last posted its quarterly earnings data on Monday, August 4th. The pharmaceutical company reported $4.52 EPS for the quarter, beating the consensus estimate of $4.24 by $0.28. The firm had revenue of $2.94 billion during the quarter, compared to analyst estimates of $2.90 billion. Vertex Pharmaceuticals had a net margin of 31.86% and a return on equity of 23.91%. The company's revenue for the quarter was up 11.3% on a year-over-year basis. During the same quarter last year, the business posted ($12.83) EPS. Vertex Pharmaceuticals has set its FY 2025 guidance at EPS. Equities research analysts predict 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.