Vertex Pharmaceuticals Incorporated $VRTX Shares Sold by Global Assets Advisory LLC

Global Assets Advisory LLC lessened its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 43.1% during the second quarter, HoldingsChannel reports. The firm owned 1,484 shares of the pharmaceutical company’s stock after selling 1,124 shares during the quarter. Global Assets Advisory LLC’s holdings in Vertex Pharmaceuticals were worth $671,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in VRTX. Advisor OS LLC increased its position in Vertex Pharmaceuticals by 4.4% during the first quarter. Advisor OS LLC now owns 543 shares of the pharmaceutical company’s stock worth $263,000 after purchasing an additional 23 shares during the last quarter. Avidian Wealth Enterprises LLC increased its holdings in shares of Vertex Pharmaceuticals by 2.1% during the 1st quarter. Avidian Wealth Enterprises LLC now owns 1,225 shares of the pharmaceutical company’s stock worth $594,000 after buying an additional 25 shares during the last quarter. Strategic Blueprint LLC raised its position in shares of Vertex Pharmaceuticals by 1.7% in the 1st quarter. Strategic Blueprint LLC now owns 1,498 shares of the pharmaceutical company’s stock worth $726,000 after buying an additional 25 shares during the period. Newman Dignan & Sheerar Inc. boosted its holdings in Vertex Pharmaceuticals by 3.3% in the second quarter. Newman Dignan & Sheerar Inc. now owns 786 shares of the pharmaceutical company’s stock valued at $350,000 after acquiring an additional 25 shares during the last quarter. Finally, Hager Investment Management Services LLC boosted its holdings in Vertex Pharmaceuticals by 0.5% in the first quarter. Hager Investment Management Services LLC now owns 5,411 shares of the pharmaceutical company’s stock valued at $2,623,000 after acquiring an additional 27 shares during the last quarter. Hedge funds and other institutional investors own 90.96% of the company’s stock.

Vertex Pharmaceuticals Trading Down 1.4%

VRTX stock opened at $403.30 on Monday. The firm’s 50-day moving average is $399.12 and its two-hundred day moving average is $442.02. The company has a market capitalization of $103.40 billion, a price-to-earnings ratio of 28.83 and a beta of 0.43. Vertex Pharmaceuticals Incorporated has a 52 week low of $362.50 and a 52 week high of $519.88.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings results on Monday, August 4th. The pharmaceutical company reported $4.52 EPS for the quarter, beating the consensus estimate 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 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 firm’s quarterly revenue was up 11.3% on a year-over-year basis. 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.

Insider Buying and Selling at Vertex Pharmaceuticals

In other news, Director Bruce I. Sachs bought 5,000 shares of the business’s stock in a transaction on Wednesday, August 6th. The stock was purchased at an average price of $389.68 per share, with a total value of $1,948,400.00. Following the transaction, the director directly owned 45,000 shares in the company, valued at approximately $17,535,600. The trade was a 12.50% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.20% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on VRTX shares. Cantor Fitzgerald cut their price objective on Vertex Pharmaceuticals from $535.00 to $485.00 and set an “overweight” rating on the stock in a report on Tuesday, August 5th. Royal Bank Of Canada cut their price target on shares of Vertex Pharmaceuticals from $430.00 to $405.00 and set a “sector perform” rating on the stock in a report on Tuesday, August 5th. Stifel Nicolaus decreased their price objective on shares of Vertex Pharmaceuticals from $494.00 to $455.00 and set a “hold” rating for the company in a research note on Tuesday, August 5th. Citigroup raised their target price on shares of Vertex Pharmaceuticals from $550.00 to $575.00 and gave the company a “buy” rating in a research note on Thursday. Finally, Truist Financial set a $490.00 target price on shares of Vertex Pharmaceuticals and gave the company a “buy” rating in a report on Tuesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and twelve have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $493.81.

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.