Nissay Asset Management Corp Japan ADV Increases Stock Holdings in Vertex Pharmaceuticals Incorporated $VRTX

Key Points

• Nissay Asset Management Corp Japan ADV increased its stake in Vertex Pharmaceuticals by 9.6%, owning a total of 63,810 shares valued at approximately $30.9 million after adding 5,568 shares.
• Vertex Pharmaceuticals reported earnings per share of $4.52 for the last quarter, exceeding analysts' expectations and showing an 11.3% year-over-year revenue growth.
• Institutional investors own nearly 91% of Vertex Pharmaceuticals' stock, reflecting strong institutional confidence in the company's performance.

Nissay Asset Management Corp Japan ADV grew its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 9.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 63,810 shares of the pharmaceutical company's stock after acquiring an additional 5,568 shares during the quarter. Nissay Asset Management Corp Japan ADV's holdings in Vertex Pharmaceuticals were worth $30,936,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Activest Wealth Management purchased a new stake in shares of Vertex Pharmaceuticals during the first quarter worth approximately $25,000. Clal Insurance Enterprises Holdings Ltd raised its stake in shares of 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 during the last quarter. Mascagni Wealth Management Inc. purchased a new stake in shares of Vertex Pharmaceuticals during the fourth quarter worth approximately $31,000. Mpwm Advisory Solutions LLC purchased a new stake in shares of Vertex Pharmaceuticals during the fourth quarter worth approximately $40,000. Finally, Minot DeBlois Advisors LLC purchased a new stake in shares of Vertex Pharmaceuticals during the fourth quarter worth approximately $44,000. 90.96% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Vertex Pharmaceuticals

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

Wall Street Analysts Forecast Growth

Several research firms have recently commented on VRTX. UBS Group set a $553.00 price target on Vertex Pharmaceuticals and gave the stock a "buy" rating in a research note on Tuesday, August 5th. Guggenheim cut their price target on Vertex Pharmaceuticals from $558.00 to $546.00 and set a "buy" rating for the company in a research note on Wednesday, August 6th. HC Wainwright cut their price target on Vertex Pharmaceuticals from $550.00 to $478.00 and set a "buy" rating for the company in a research note on Tuesday, August 5th. Truist Financial set a $490.00 price target on Vertex Pharmaceuticals and gave the stock a "buy" rating in a research note on Tuesday, August 5th. Finally, Cantor Fitzgerald reduced their target price on Vertex Pharmaceuticals from $535.00 to $485.00 and set an "overweight" rating for the company in a report on Tuesday, August 5th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and thirteen have given a Hold rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $497.10.

Vertex Pharmaceuticals Stock Performance

Vertex Pharmaceuticals stock traded down $0.81 during midday trading on Friday, reaching $396.12. The company's stock had a trading volume of 1,171,066 shares, compared to its average volume of 1,551,862. Vertex Pharmaceuticals Incorporated has a fifty-two week low of $362.50 and a fifty-two week high of $519.88. The stock's 50 day simple moving average is $428.49 and its 200 day simple moving average is $456.22. The firm has a market capitalization of $101.56 billion, a PE ratio of 28.31 and a beta of 0.44.

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, beating 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 company had revenue of $2.94 billion during the quarter, compared to the consensus estimate of $2.90 billion. During the same quarter last year, the company earned ($12.83) earnings per share. Vertex Pharmaceuticals's quarterly revenue was up 11.3% compared to the same quarter last year. Vertex Pharmaceuticals has set its FY 2025 guidance at EPS. Equities analysts predict that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share 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.