Goldman Sachs Group Inc. Boosts Stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Goldman Sachs Group Inc. boosted its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 28.9% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,775,194 shares of the pharmaceutical company's stock after purchasing an additional 398,460 shares during the quarter. Goldman Sachs Group Inc. owned about 0.69% of Vertex Pharmaceuticals worth $860,650,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC grew its position in shares of Vertex Pharmaceuticals by 15.0% during the 4th quarter. Brighton Jones LLC now owns 4,427 shares of the pharmaceutical company's stock worth $1,783,000 after purchasing an additional 579 shares in the last quarter. Arrowstreet Capital Limited Partnership bought a new position in shares of Vertex Pharmaceuticals in the fourth quarter worth $3,731,000. FIL Ltd raised its stake in Vertex Pharmaceuticals by 1,226.6% in the fourth quarter. FIL Ltd now owns 93,273 shares of the pharmaceutical company's stock valued at $37,561,000 after purchasing an additional 86,242 shares in the last quarter. Azimuth Capital Investment Management LLC increased its holdings in Vertex Pharmaceuticals by 3.3% in the 4th quarter. Azimuth Capital Investment Management LLC now owns 22,141 shares of the pharmaceutical company's stock valued at $8,916,000 after buying an additional 697 shares during the period. Finally, DRW Securities LLC acquired a new stake in shares of Vertex Pharmaceuticals during the 4th quarter worth approximately $479,000. Institutional investors own 90.96% of the company's stock.

Analysts Set New Price Targets

VRTX has been the subject of several recent analyst reports. Cantor Fitzgerald cut their target price on Vertex Pharmaceuticals from $535.00 to $485.00 and set an "overweight" rating for the company in a research note on Tuesday. Wells Fargo & Company raised Vertex Pharmaceuticals from an "equal weight" rating to an "overweight" rating and set a $460.00 price objective on the stock in a research note on Wednesday. UBS Group set a $553.00 price target on shares of Vertex Pharmaceuticals and gave the company a "buy" rating in a research note on Tuesday. Truist Financial set a $490.00 price objective on shares of Vertex Pharmaceuticals and gave the stock a "buy" rating in a research report on Tuesday. Finally, Guggenheim cut their target price on shares of Vertex Pharmaceuticals from $558.00 to $546.00 and set a "buy" rating on the stock in a research report on Wednesday. Thirteen research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Vertex Pharmaceuticals presently has a consensus rating of "Moderate Buy" and a consensus price target of $497.10.

Insider Activity

In related news, Director Bruce I. Sachs acquired 5,000 shares of the firm's stock in a transaction on Wednesday, August 6th. The stock was purchased at an average cost of $389.68 per share, with a total value of $1,948,400.00. Following the acquisition, the director owned 45,000 shares of the company's stock, valued at approximately $17,535,600. This trade represents a 12.50% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.20% of the stock is owned by corporate insiders.

Vertex Pharmaceuticals Stock Down 2.4%

NASDAQ:VRTX traded down $9.09 during trading hours on Friday, reaching $366.54. The company had a trading volume of 3,679,339 shares, compared to its average volume of 1,989,627. Vertex Pharmaceuticals Incorporated has a twelve month low of $364.66 and a twelve month high of $519.88. The firm has a market cap of $93.98 billion, a price-to-earnings ratio of 26.20 and a beta of 0.44. The business's 50-day simple moving average is $450.77 and its two-hundred day simple moving average is $465.51.

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 (EPS) for the quarter, topping analysts' consensus estimates of $4.24 by $0.28. Vertex Pharmaceuticals had a net margin of 31.86% and a return on equity of 23.91%. The company had revenue of $2.94 billion for the quarter, compared to analysts' expectations of $2.90 billion. During the same quarter in the prior year, the firm earned ($12.83) EPS. The business's revenue was up 11.3% on a year-over-year basis. As a group, equities analysts predict that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current year.

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.