Vertex Pharmaceuticals Incorporated $VRTX Shares Sold by Sowell Financial Services LLC

Sowell Financial Services LLC lowered its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 1.0% during the 2nd quarter, Holdings Channel.com reports. The firm owned 2,797 shares of the pharmaceutical company’s stock after selling 29 shares during the quarter. Sowell Financial Services LLC’s holdings in Vertex Pharmaceuticals were worth $1,245,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Activest Wealth Management bought a new position in shares of Vertex Pharmaceuticals in the first quarter valued at approximately $25,000. Clal Insurance Enterprises Holdings Ltd boosted its holdings in shares of Vertex Pharmaceuticals by 450.0% in the first 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 in the last quarter. Mascagni Wealth Management Inc. bought a new position in shares of Vertex Pharmaceuticals in the fourth quarter valued at approximately $31,000. Flaharty Asset Management LLC bought a new position in shares of Vertex Pharmaceuticals in the first quarter valued at approximately $32,000. Finally, SJS Investment Consulting Inc. boosted its holdings in shares of Vertex Pharmaceuticals by 46.2% in the first quarter. SJS Investment Consulting Inc. now owns 95 shares of the pharmaceutical company’s stock valued at $46,000 after acquiring an additional 30 shares in the last quarter. 90.96% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

VRTX has been the subject of several recent analyst reports. Truist Financial set a $490.00 price objective on shares of Vertex Pharmaceuticals and gave the company a “buy” rating in a report on Tuesday, August 5th. Cantor Fitzgerald decreased their price objective on shares of Vertex Pharmaceuticals from $535.00 to $485.00 and set an “overweight” rating for the company in a report on Tuesday, August 5th. 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 report on Wednesday, August 6th. HC Wainwright reduced their target price on shares of Vertex Pharmaceuticals from $550.00 to $478.00 and set a “buy” rating for the company in a report on Tuesday, August 5th. Finally, Royal Bank Of Canada reduced their target price on shares of Vertex Pharmaceuticals from $430.00 to $405.00 and set a “sector perform” rating for the company in a report on Tuesday, August 5th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and thirteen have given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $496.05.

Vertex Pharmaceuticals Stock Up 0.0%

VRTX stock opened at $383.13 on Tuesday. Vertex Pharmaceuticals Incorporated has a 12-month low of $362.50 and a 12-month high of $519.88. The company has a market cap of $98.23 billion, a price-to-earnings ratio of 27.39 and a beta of 0.44. The company has a 50 day moving average of $412.66 and a two-hundred day moving average of $449.11.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its earnings results 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 during the quarter, compared to the consensus estimate of $2.90 billion. During the same quarter in the prior year, the firm earned ($12.83) EPS. The company’s revenue was up 11.3% compared to the same quarter last year. Vertex Pharmaceuticals has set its FY 2025 guidance at EPS. On average, research analysts anticipate that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current year.

Insider Transactions at Vertex Pharmaceuticals

In related news, Director Bruce I. Sachs bought 5,000 shares of the business’s stock in a transaction on Wednesday, August 6th. The stock was bought at an average price of $389.68 per share, for a total transaction of $1,948,400.00. Following the transaction, the director directly owned 45,000 shares in the company, valued at $17,535,600. This represents a 12.50% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.20% of the stock is currently owned by insiders.

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.