Vertex Pharmaceuticals Incorporated $VRTX Stock Holdings Lessened by New York State Teachers Retirement System

Key Points

• New York State Teachers Retirement System reduced its stake in Vertex Pharmaceuticals by 0.7% in Q2, owning approximately 203,504 shares valued at $90.6 million.
• Director Bruce I. Sachs purchased 5,000 shares at $389.68 each, increasing his position by 12.50% with a total investment of nearly $1.95 million.
• Research analysts have recently upgraded Vertex Pharmaceuticals; Wells Fargo raised their rating to "overweight" with a target price of $460, while overall consensus prices average around $494.38.

New York State Teachers Retirement System lessened its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 0.7% in the second quarter, according to its most recent filing with the SEC. The fund owned 203,504 shares of the pharmaceutical company's stock after selling 1,386 shares during the period. New York State Teachers Retirement System owned about 0.08% of Vertex Pharmaceuticals worth $90,600,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Activest Wealth Management acquired a new stake in shares of Vertex Pharmaceuticals during the 1st quarter valued at $25,000. Clal Insurance Enterprises Holdings Ltd lifted its position in shares of Vertex Pharmaceuticals by 450.0% during the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 55 shares of the pharmaceutical company's stock valued at $27,000 after acquiring an additional 45 shares during the last quarter. Flaharty Asset Management LLC acquired a new stake in shares of Vertex Pharmaceuticals during the 1st quarter valued at $32,000. American National Bank & Trust lifted its position in shares of Vertex Pharmaceuticals by 515.4% during the 2nd quarter. American National Bank & Trust now owns 80 shares of the pharmaceutical company's stock valued at $36,000 after acquiring an additional 67 shares during the last quarter. Finally, University of Texas Texas AM Investment Management Co. purchased a new position in shares of Vertex Pharmaceuticals in the first quarter worth approximately $46,000. Institutional investors and hedge funds own 90.96% of the company's stock.

Insider Buying and Selling at Vertex Pharmaceuticals

In related news, Director Bruce I. Sachs purchased 5,000 shares of the company's stock in a transaction dated Wednesday, August 6th. The shares were acquired at an average cost of $389.68 per share, with a total value of $1,948,400.00. Following the completion of the purchase, the director 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 document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.20% of the company's stock.

Vertex Pharmaceuticals Trading Down 1.0%

NASDAQ VRTX opened at $407.90 on Thursday. Vertex Pharmaceuticals Incorporated has a 1-year low of $362.50 and a 1-year high of $519.88. The company has a market capitalization of $104.58 billion, a PE ratio of 29.16 and a beta of 0.43. The firm's fifty day simple moving average is $393.80 and its 200-day simple moving average is $437.75.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last posted its quarterly 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. Vertex Pharmaceuticals had a net margin of 31.86% and a return on equity of 23.91%. The business had revenue of $2.94 billion for the quarter, compared to the consensus estimate of $2.90 billion. During the same period in the prior year, the business posted ($12.83) earnings per share. Vertex Pharmaceuticals's revenue for the quarter was up 11.3% compared to the same quarter last year. Vertex Pharmaceuticals has set its FY 2025 guidance at EPS. As a group, analysts predict that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current year.

Analyst Ratings Changes

Several research analysts have recently weighed in on VRTX shares. Wells Fargo & Company raised shares of Vertex Pharmaceuticals from an "equal weight" rating to an "overweight" rating and set a $460.00 target price on the stock in a research report on Wednesday, August 6th. Leerink Partners upgraded Vertex Pharmaceuticals from a "market perform" rating to an "outperform" rating and reduced their target price for the company from $458.00 to $456.00 in a report on Thursday, September 25th. Evercore ISI reduced their target price on Vertex Pharmaceuticals from $510.00 to $475.00 and set an "outperform" rating for the company in a report on Thursday, September 11th. Morgan Stanley reduced their target price on Vertex Pharmaceuticals from $439.00 to $438.00 and set an "equal weight" rating for the company in a report on Friday, October 10th. Finally, Raymond James Financial began coverage on Vertex Pharmaceuticals in a report on Tuesday, September 2nd. They issued a "market perform" rating for the company. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and twelve have given a Hold rating to the company. According to MarketBeat.com, Vertex Pharmaceuticals has an average rating of "Moderate Buy" and a consensus price target of $494.38.

Vertex Pharmaceuticals Company 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.

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