Ignite Planners LLC decreased its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX – Free Report) by 23.9% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 462 shares of the pharmaceutical company’s stock after selling 145 shares during the period. Ignite Planners LLC’s holdings in Vertex Pharmaceuticals were worth $212,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in VRTX. Advisor OS LLC boosted its holdings in Vertex Pharmaceuticals by 4.4% during the 1st quarter. Advisor OS LLC now owns 543 shares of the pharmaceutical company’s stock valued at $263,000 after acquiring an additional 23 shares during the period. Avidian Wealth Enterprises LLC raised its position in Vertex Pharmaceuticals by 2.1% in the 1st quarter. Avidian Wealth Enterprises LLC now owns 1,225 shares of the pharmaceutical company’s stock valued at $594,000 after purchasing an additional 25 shares in the last quarter. Strategic Blueprint LLC raised its position in Vertex Pharmaceuticals by 1.7% in the 1st quarter. Strategic Blueprint LLC now owns 1,498 shares of the pharmaceutical company’s stock valued at $726,000 after purchasing an additional 25 shares in the last quarter. Newman Dignan & Sheerar Inc. raised its position in Vertex Pharmaceuticals by 3.3% in the 2nd quarter. Newman Dignan & Sheerar Inc. now owns 786 shares of the pharmaceutical company’s stock valued at $350,000 after purchasing an additional 25 shares in the last quarter. Finally, Hager Investment Management Services LLC raised its position in Vertex Pharmaceuticals by 0.5% in the 1st quarter. Hager Investment Management Services LLC now owns 5,411 shares of the pharmaceutical company’s stock valued at $2,623,000 after purchasing an additional 27 shares in the last quarter. Institutional investors own 90.96% of the company’s stock.
Analyst Ratings Changes
A number of equities research analysts have issued reports on the company. Leerink Partners raised Vertex Pharmaceuticals from a “market perform” rating to an “outperform” rating and reduced their price target for the company from $458.00 to $456.00 in a research report on Thursday, September 25th. Wall Street Zen lowered Vertex Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Friday, August 22nd. Cantor Fitzgerald reduced their price target on Vertex Pharmaceuticals from $535.00 to $485.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 5th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Vertex Pharmaceuticals in a research report on Wednesday. Finally, Truist Financial set a $490.00 price target on Vertex Pharmaceuticals and gave the company a “buy” rating in a research report on Tuesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and twelve have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $494.43.
Insider Buying and Selling
In other news, Director Bruce I. Sachs purchased 5,000 shares of the business’s stock in a transaction on Wednesday, August 6th. The shares were bought at an average price of $389.68 per share, with a total value of $1,948,400.00. Following the completion of the transaction, the director directly owned 45,000 shares in the company, valued at approximately $17,535,600. This represents a 12.50% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.20% of the stock is currently owned by company insiders.
Vertex Pharmaceuticals Stock Performance
Shares of NASDAQ VRTX opened at $414.86 on Friday. Vertex Pharmaceuticals Incorporated has a fifty-two week low of $362.50 and a fifty-two week high of $519.88. The firm has a market capitalization of $106.37 billion, a PE ratio of 29.65 and a beta of 0.43. The stock’s 50-day simple moving average is $394.99 and its 200-day simple moving average is $440.30.
Vertex Pharmaceuticals (NASDAQ:VRTX – Get Free Report) last released its quarterly earnings results on Monday, August 4th. The pharmaceutical company reported $4.52 EPS for the quarter, topping the consensus estimate of $4.24 by $0.28. The company had revenue of $2.94 billion for the quarter, compared to analyst estimates of $2.90 billion. Vertex Pharmaceuticals had a return on equity of 23.91% and a net margin of 31.86%.The firm’s revenue was up 11.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($12.83) earnings per share. Vertex Pharmaceuticals has set its FY 2025 guidance at EPS. On average, sell-side analysts forecast that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current fiscal 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.
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