Concord Wealth Partners Sells 3,459 Shares of Vertex Pharmaceuticals Incorporated $VRTX

Concord Wealth Partners lowered its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 97.5% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 90 shares of the pharmaceutical company’s stock after selling 3,459 shares during the period. Concord Wealth Partners’ holdings in Vertex Pharmaceuticals were worth $40,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Advisor OS LLC raised its holdings in shares of Vertex Pharmaceuticals by 4.4% in 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 in the last quarter. Costello Asset Management INC raised its holdings in shares of Vertex Pharmaceuticals by 3.6% in the 2nd quarter. Costello Asset Management INC now owns 689 shares of the pharmaceutical company’s stock valued at $307,000 after acquiring an additional 24 shares in the last quarter. Avidian Wealth Enterprises LLC raised its holdings in shares of 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 acquiring an additional 25 shares in the last quarter. Strategic Blueprint LLC raised its holdings 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 valued at $726,000 after acquiring an additional 25 shares in the last quarter. Finally, Newman Dignan & Sheerar Inc. raised its holdings in shares of Vertex Pharmaceuticals by 3.3% during the 2nd 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 in the last quarter. Hedge funds and other institutional investors own 90.96% of the company’s stock.

Analyst Ratings Changes

VRTX has been the topic of a number of research reports. Leerink Partnrs raised Vertex Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a report on Thursday, September 25th. Canaccord Genuity Group decreased their price objective on Vertex Pharmaceuticals from $424.00 to $411.00 and set a “hold” rating on the stock in a report on Wednesday, August 6th. Guggenheim decreased their price objective on Vertex Pharmaceuticals from $558.00 to $546.00 and set a “buy” rating on the stock in a report on Wednesday, August 6th. Citigroup raised their price objective on Vertex Pharmaceuticals from $550.00 to $575.00 and gave the company a “buy” rating in a report on Thursday, October 2nd. Finally, Wall Street Zen cut Vertex Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Friday, August 22nd. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and twelve have assigned a Hold rating to the company. According to data from MarketBeat, Vertex Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average price target of $494.38.

Insider Buying and Selling at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, Director Bruce I. Sachs acquired 5,000 shares of the business’s stock in a transaction dated Wednesday, August 6th. The shares were purchased at an average cost of $389.68 per share, for a total transaction of $1,948,400.00. Following the transaction, the director 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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.20% of the company’s stock.

Vertex Pharmaceuticals Stock Up 1.2%

NASDAQ:VRTX opened at $412.22 on Wednesday. The company has a fifty day moving average of $393.35 and a 200 day moving average of $437.96. Vertex Pharmaceuticals Incorporated has a 52 week low of $362.50 and a 52 week high of $519.88. The firm has a market capitalization of $105.69 billion, a P/E ratio of 29.47 and a beta of 0.43.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly earnings results on Monday, August 4th. The pharmaceutical company reported $4.52 EPS for the quarter, beating 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 analyst estimates of $2.90 billion. During the same period in the prior year, the business posted ($12.83) EPS. The firm’s revenue was up 11.3% compared to the same quarter last year. Vertex Pharmaceuticals has set its FY 2025 guidance at EPS. As a group, analysts anticipate that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current 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.