Ilmarinen Mutual Pension Insurance Co Has $16.15 Million Position in Vertex Pharmaceuticals Incorporated $VRTX

Key Points

• Ilmarinen Mutual Pension Insurance Co increased its stake in Vertex Pharmaceuticals by 17.7%, owning 33,300 shares valued at approximately $16.15 million as of the end of the latest quarter.
• Vertex Pharmaceuticals reported a quarterly earnings per share (EPS) of $4.52, exceeding expectations, with a revenue of $2.94 billion, representing an 11.3% year-over-year increase.
• The stock has seen various analysts adjusting their ratings, with a consensus rating of "Moderate Buy" and a target price averaging around $497.10.

Ilmarinen Mutual Pension Insurance Co increased its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 17.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,300 shares of the pharmaceutical company's stock after purchasing an additional 5,000 shares during the period. Ilmarinen Mutual Pension Insurance Co's holdings in Vertex Pharmaceuticals were worth $16,145,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Activest Wealth Management bought a new stake in Vertex Pharmaceuticals during the first quarter worth approximately $25,000. Clal Insurance Enterprises Holdings Ltd raised its holdings in Vertex Pharmaceuticals by 450.0% during the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 55 shares of the pharmaceutical company's stock worth $27,000 after purchasing an additional 45 shares in the last quarter. Mascagni Wealth Management Inc. bought a new stake in Vertex Pharmaceuticals during the fourth quarter worth approximately $31,000. Mpwm Advisory Solutions LLC bought a new stake in Vertex Pharmaceuticals during the fourth quarter worth approximately $40,000. Finally, Minot DeBlois Advisors LLC bought a new position in shares of Vertex Pharmaceuticals in the fourth quarter valued at $44,000. Institutional investors own 90.96% of the company's stock.

Analysts Set New Price Targets

Several research analysts have issued reports on VRTX shares. Cantor Fitzgerald dropped their price target on Vertex Pharmaceuticals from $535.00 to $485.00 and set an "overweight" rating on the stock in a report on Tuesday, August 5th. Royal Bank Of Canada dropped their price target on Vertex Pharmaceuticals from $430.00 to $405.00 and set a "sector perform" rating on the stock in a report on Tuesday, August 5th. Erste Group Bank cut Vertex Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a report on Friday, May 23rd. Wall Street Zen cut shares of Vertex Pharmaceuticals from a "strong-buy" rating to a "buy" rating in a research report on Friday, August 22nd. Finally, Raymond James Financial assumed coverage on shares of Vertex Pharmaceuticals in a research report on Tuesday, September 2nd. They set a "market perform" rating on the stock. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and thirteen have assigned a Hold rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $496.05.

Vertex Pharmaceuticals Price Performance

NASDAQ:VRTX traded down $2.84 during trading hours on Friday, reaching $394.53. The company's stock had a trading volume of 978,279 shares, compared to its average volume of 1,386,885. The company has a market cap of $101.15 billion, a price-to-earnings ratio of 28.20 and a beta of 0.44. Vertex Pharmaceuticals Incorporated has a one year low of $362.50 and a one year high of $519.88. The business's 50-day moving average is $422.66 and its 200-day moving average is $453.56.

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. 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 business's revenue was up 11.3% on a year-over-year basis. During the same quarter in the previous year, the business earned ($12.83) EPS. Vertex Pharmaceuticals has set its FY 2025 guidance at EPS. On average, sell-side analysts predict that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current fiscal year.

Insider Activity at Vertex Pharmaceuticals

In related news, Director Bruce I. Sachs acquired 5,000 shares of the business's stock in a transaction dated 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 transaction, 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 purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.20% of the company's stock.

Vertex Pharmaceuticals 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.