Allspring Global Investments Holdings LLC Acquires 18,113 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Allspring Global Investments Holdings LLC boosted its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 8.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 231,456 shares of the pharmaceutical company’s stock after purchasing an additional 18,113 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.09% of Vertex Pharmaceuticals worth $96,751,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in VRTX. University of Texas Texas AM Investment Managment Co. bought a new stake in Vertex Pharmaceuticals during the 4th quarter valued at approximately $25,000. Arlington Trust Co LLC increased its stake in Vertex Pharmaceuticals by 97.1% in the 4th quarter. Arlington Trust Co LLC now owns 67 shares of the pharmaceutical company’s stock worth $27,000 after acquiring an additional 33 shares during the last quarter. Annapolis Financial Services LLC bought a new stake in Vertex Pharmaceuticals in the 1st quarter worth approximately $27,000. ICA Group Wealth Management LLC bought a new stake in Vertex Pharmaceuticals in the 4th quarter worth approximately $28,000. Finally, Fortitude Family Office LLC purchased a new position in shares of Vertex Pharmaceuticals in the 4th quarter worth approximately $30,000. Institutional investors own 90.96% of the company’s stock.

Vertex Pharmaceuticals Trading Up 0.5 %

VRTX opened at $473.78 on Wednesday. The firm has a market cap of $122.26 billion, a price-to-earnings ratio of 30.74, a PEG ratio of 2.41 and a beta of 0.39. The company has a current ratio of 3.50, a quick ratio of 3.29 and a debt-to-equity ratio of 0.02. Vertex Pharmaceuticals Incorporated has a 12 month low of $335.82 and a 12 month high of $486.42. The stock has a fifty day moving average price of $446.31 and a 200-day moving average price of $427.25.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its quarterly earnings results on Monday, May 6th. The pharmaceutical company reported $4.76 EPS for the quarter, topping the consensus estimate of $3.66 by $1.10. The firm had revenue of $2.69 billion during the quarter, compared to analyst estimates of $2.58 billion. Vertex Pharmaceuticals had a return on equity of 23.08% and a net margin of 39.46%. The business’s revenue for the quarter was up 13.3% compared to the same quarter last year. During the same period in the previous year, the company posted $2.67 EPS. As a group, equities research analysts anticipate that Vertex Pharmaceuticals Incorporated will post 15.22 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on VRTX. BMO Capital Markets lifted their target price on Vertex Pharmaceuticals from $480.00 to $500.00 and gave the stock an “outperform” rating in a report on Friday, May 31st. Piper Sandler lifted their target price on Vertex Pharmaceuticals from $450.00 to $456.00 and gave the stock an “overweight” rating in a report on Tuesday, May 7th. HC Wainwright reiterated a “buy” rating and issued a $462.00 target price on shares of Vertex Pharmaceuticals in a report on Tuesday, May 7th. Oppenheimer reiterated an “outperform” rating and issued a $500.00 target price on shares of Vertex Pharmaceuticals in a report on Monday, April 15th. Finally, UBS Group dropped their price objective on Vertex Pharmaceuticals from $498.00 to $466.00 and set a “buy” rating for the company in a report on Wednesday, April 17th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Vertex Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus price target of $448.61.

Insider Activity at Vertex Pharmaceuticals

In related news, EVP Ourania Tatsis sold 2,350 shares of the company’s stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $439.11, for a total transaction of $1,031,908.50. Following the transaction, the executive vice president now directly owns 53,523 shares of the company’s stock, valued at approximately $23,502,484.53. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, EVP Ourania Tatsis sold 2,350 shares of the company’s stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $439.11, for a total transaction of $1,031,908.50. Following the transaction, the executive vice president now directly owns 53,523 shares of the company’s stock, valued at approximately $23,502,484.53. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Bruce I. Sachs sold 7,073 shares of the company’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $448.00, for a total value of $3,168,704.00. Following the transaction, the director now directly owns 40,000 shares in the company, valued at $17,920,000. The disclosure for this sale can be found here. Insiders have sold 28,366 shares of company stock valued at $13,058,787 in the last ninety days. Corporate insiders own 0.20% of the company’s stock.

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.