Conning Inc. Sells 42 Shares of Vertex Pharmaceuticals Incorporated $VRTX

Conning Inc. lowered its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 2.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,544 shares of the pharmaceutical company’s stock after selling 42 shares during the period. Conning Inc.’s holdings in Vertex Pharmaceuticals were worth $687,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Advisor OS LLC raised its stake in shares of 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 purchasing an additional 23 shares during the period. Costello Asset Management INC increased its position in shares of Vertex Pharmaceuticals by 3.6% during the second quarter. Costello Asset Management INC now owns 689 shares of the pharmaceutical company’s stock valued at $307,000 after buying an additional 24 shares during the period. Avidian Wealth Enterprises LLC increased its position in shares of Vertex Pharmaceuticals by 2.1% during the first quarter. Avidian Wealth Enterprises LLC now owns 1,225 shares of the pharmaceutical company’s stock valued at $594,000 after buying an additional 25 shares during the period. Strategic Blueprint LLC increased its position in shares of Vertex Pharmaceuticals by 1.7% during the first quarter. Strategic Blueprint LLC now owns 1,498 shares of the pharmaceutical company’s stock valued at $726,000 after buying an additional 25 shares during the period. Finally, Newman Dignan & Sheerar Inc. increased its position in shares of Vertex Pharmaceuticals by 3.3% during the second quarter. Newman Dignan & Sheerar Inc. now owns 786 shares of the pharmaceutical company’s stock valued at $350,000 after buying an additional 25 shares during the period. Institutional investors own 90.96% of the company’s stock.

Vertex Pharmaceuticals Stock Down 1.7%

VRTX opened at $407.79 on Friday. The stock has a market cap of $104.55 billion, a PE ratio of 29.15 and a beta of 0.43. The business’s fifty day simple moving average is $393.91 and its 200 day simple moving average is $439.18. Vertex Pharmaceuticals Incorporated has a 52 week low of $362.50 and a 52 week high of $519.88.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings data on Monday, August 4th. The pharmaceutical company reported $4.52 EPS for the quarter, beating the consensus estimate of $4.24 by $0.28. The firm 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 company’s revenue was up 11.3% on a year-over-year basis. During the same period in the prior year, the company earned ($12.83) EPS. Vertex Pharmaceuticals has set its FY 2025 guidance at EPS. As a group, equities analysts anticipate that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current year.

Insider Buying and Selling

In other Vertex Pharmaceuticals news, Director Bruce I. Sachs bought 5,000 shares of Vertex Pharmaceuticals stock in a transaction that occurred 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 acquisition, the director owned 45,000 shares in the company, valued at approximately $17,535,600. This trade represents a 12.50% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.20% of the stock is owned by insiders.

Analysts Set New Price Targets

VRTX has been the topic of a number of analyst reports. BMO Capital Markets set a $530.00 target price on shares of Vertex Pharmaceuticals and gave the stock an “outperform” rating in a report on Tuesday, August 5th. HC Wainwright decreased their price target on shares of Vertex Pharmaceuticals from $550.00 to $478.00 and set a “buy” rating on the stock in a report on Tuesday, August 5th. Canaccord Genuity Group decreased their price target on shares of Vertex Pharmaceuticals from $424.00 to $411.00 and set a “hold” rating on the stock in a report on Wednesday, August 6th. Evercore ISI decreased their target price on Vertex Pharmaceuticals from $510.00 to $475.00 and set an “outperform” rating on the stock in a research note on Thursday, September 11th. Finally, UBS Group set a $553.00 target price on Vertex Pharmaceuticals and gave the stock a “buy” rating in a research note on Tuesday, August 5th. One research 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. According to MarketBeat, Vertex Pharmaceuticals currently has an average rating of “Moderate Buy” and an average target price 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.