Vertex Pharmaceuticals Incorporated $VRTX Shares Bought by Price T Rowe Associates Inc. MD

Key Points

• Price T Rowe Associates Inc. MD increased its stake in Vertex Pharmaceuticals (VRTX) by 72.5% in Q1, holding 2,917,227 shares valued at $1.41 billion.
• Vertex Pharmaceuticals reported an earnings per share (EPS) of $4.52 for the most recent quarter, exceeding analyst expectations and achieving a revenue of $2.94 billion.
• Analysts have mixed sentiments on Vertex Pharmaceuticals, with one firm upgrading the stock to a "strong-buy" rating while others adjusted their price targets downwards.

Price T Rowe Associates Inc. MD raised its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 72.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,917,227 shares of the pharmaceutical company's stock after purchasing an additional 1,226,527 shares during the period. Price T Rowe Associates Inc. MD owned 1.14% of Vertex Pharmaceuticals worth $1,414,331,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Dorsey & Whitney Trust CO LLC grew its holdings in Vertex Pharmaceuticals by 5.7% during the 1st quarter. Dorsey & Whitney Trust CO LLC now owns 2,700 shares of the pharmaceutical company's stock valued at $1,309,000 after buying an additional 146 shares during the last quarter. Level Four Advisory Services LLC increased its position in Vertex Pharmaceuticals by 13.0% during the 1st quarter. Level Four Advisory Services LLC now owns 8,436 shares of the pharmaceutical company's stock worth $4,090,000 after purchasing an additional 969 shares in the last quarter. Tradition Wealth Management LLC acquired a new position in Vertex Pharmaceuticals in the 1st quarter valued at about $207,000. Erste Asset Management GmbH lifted its holdings in Vertex Pharmaceuticals by 4.6% in the 1st quarter. Erste Asset Management GmbH now owns 68,770 shares of the pharmaceutical company's stock valued at $33,460,000 after purchasing an additional 2,996 shares in the last quarter. Finally, HMS Capital Management LLC lifted its holdings in Vertex Pharmaceuticals by 79.2% in the 1st quarter. HMS Capital Management LLC now owns 1,070 shares of the pharmaceutical company's stock valued at $508,000 after purchasing an additional 473 shares in the last quarter. 90.96% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Vertex Pharmaceuticals

In related news, Director Bruce I. Sachs purchased 5,000 shares of Vertex Pharmaceuticals stock in a transaction that occurred 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 transaction, the director owned 45,000 shares of the company's stock, valued at approximately $17,535,600. The trade was a 12.50% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. 0.20% of the stock is owned by insiders.

Vertex Pharmaceuticals Price Performance

VRTX stock traded down $2.34 during trading on Friday, reaching $395.12. 1,403,298 shares of the stock traded hands, compared to its average volume of 2,546,021. The business's 50 day moving average price is $438.99 and its 200-day moving average price is $461.20. The firm has a market capitalization of $101.30 billion, a PE ratio of 28.24 and a beta of 0.44. Vertex Pharmaceuticals Incorporated has a 52-week low of $362.50 and a 52-week high of $519.88.

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 business had revenue of $2.94 billion for the quarter, compared to analyst estimates of $2.90 billion. Vertex Pharmaceuticals had a return on equity of 23.91% and a net margin of 31.86%.The company's revenue was up 11.3% compared to the same quarter last year. During the same period in the previous year, the company posted ($12.83) EPS. Vertex Pharmaceuticals has set its FY 2025 guidance at EPS. On average, equities research analysts predict that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current year.

Wall Street Analyst Weigh In

VRTX has been the subject of a number of analyst reports. Wall Street Zen lowered shares of Vertex Pharmaceuticals from a "strong-buy" rating to a "buy" rating in a research report on Friday. Royal Bank Of Canada cut their price target on Vertex Pharmaceuticals from $430.00 to $405.00 and set a "sector perform" rating for the company in a report on Tuesday, August 5th. Scotiabank decreased their price objective 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. Canaccord Genuity Group dropped their target price on Vertex Pharmaceuticals from $424.00 to $411.00 and set a "hold" rating for the company in a research note on Wednesday, August 6th. Finally, Wolfe Research downgraded Vertex Pharmaceuticals from an "outperform" rating to a "peer perform" rating in a research report on Wednesday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and thirteen have issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $497.10.

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.