Plato Investment Management Ltd Has $2.86 Million Stake in Vertex Pharmaceuticals Incorporated $VRTX

Key Points

• Plato Investment Management Ltd reduced its stake in Vertex Pharmaceuticals by 12.3%, holding a total of 5,825 shares valued at approximately $2.86 million as of the latest reporting period.
• Major institutional investors have also adjusted their positions, with UBS Asset Management increasing its stake by 9.9% to approximately $1.24 billion, highlighting significant interest in Vertex Pharmaceuticals.
• Vertex Pharmaceuticals is currently rated a "Moderate Buy" by analysts, with an average price target of $497.10, reflecting ongoing favorable sentiments toward its stock performance.

Plato Investment Management Ltd trimmed its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 12.3% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,825 shares of the pharmaceutical company's stock after selling 820 shares during the quarter. Plato Investment Management Ltd's holdings in Vertex Pharmaceuticals were worth $2,855,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Advisory Alpha LLC boosted its holdings in Vertex Pharmaceuticals by 17.2% in the 1st quarter. Advisory Alpha LLC now owns 1,514 shares of the pharmaceutical company's stock valued at $734,000 after purchasing an additional 222 shares during the period. Alaethes Wealth LLC acquired a new stake in shares of Vertex Pharmaceuticals in the first quarter valued at approximately $1,479,000. SCS Capital Management LLC acquired a new stake in shares of Vertex Pharmaceuticals in the first quarter valued at approximately $202,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Vertex Pharmaceuticals by 9.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,559,476 shares of the pharmaceutical company's stock valued at $1,240,885,000 after buying an additional 230,257 shares during the period. Finally, Woodline Partners LP grew its position in Vertex Pharmaceuticals by 2.5% during the first quarter. Woodline Partners LP now owns 153,160 shares of the pharmaceutical company's stock worth $74,255,000 after buying an additional 3,742 shares in the last quarter. 90.96% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have weighed in on VRTX shares. Canaccord Genuity Group dropped their price objective on Vertex Pharmaceuticals from $424.00 to $411.00 and set a "hold" rating for the company in a report on Wednesday, August 6th. HC Wainwright decreased their price target on Vertex Pharmaceuticals from $550.00 to $478.00 and set a "buy" rating on the stock in a research report on Tuesday, August 5th. Morgan Stanley set a $439.00 price objective on shares of Vertex Pharmaceuticals and gave the stock an "equal weight" rating in a research report on Tuesday, August 5th. Truist Financial set a $490.00 target price on shares of Vertex Pharmaceuticals and gave the company a "buy" rating in a report on Tuesday, August 5th. Finally, Wells Fargo & Company upgraded shares of Vertex Pharmaceuticals from an "equal weight" rating to an "overweight" rating and set a $460.00 target price for the company in a research report on Wednesday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and thirteen have given a Hold rating to the company's stock. Based on data from MarketBeat, Vertex Pharmaceuticals has a consensus rating of "Moderate Buy" and an average price target of $497.10.

Vertex Pharmaceuticals Stock Performance

Shares of NASDAQ:VRTX opened at $396.48 on Wednesday. Vertex Pharmaceuticals Incorporated has a 52-week low of $362.50 and a 52-week high of $519.88. The company has a market capitalization of $101.65 billion, a PE ratio of 28.34 and a beta of 0.44. The company has a fifty day moving average of $426.38 and a 200-day moving average of $455.19.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last released its quarterly earnings data on Monday, August 4th. The pharmaceutical company reported $4.52 earnings per share for the quarter, beating the consensus estimate of $4.24 by $0.28. The company had revenue of $2.94 billion for the quarter, compared to the consensus estimate of $2.90 billion. Vertex Pharmaceuticals had a return on equity of 23.91% and a net margin of 31.86%.Vertex Pharmaceuticals'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. On average, equities analysts forecast that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current fiscal year.

Insider Buying and Selling

In other Vertex Pharmaceuticals news, Director Bruce I. Sachs bought 5,000 shares of Vertex Pharmaceuticals stock in a transaction on Wednesday, August 6th. The shares were purchased at an average cost 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. The trade was a 12.50% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.20% of the stock is currently owned by corporate insiders.

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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