Stanley Laman Group Ltd. Trims Stock Position in Vertex Pharmaceuticals Incorporated $VRTX

Stanley Laman Group Ltd. cut its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 33.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 668 shares of the pharmaceutical company’s stock after selling 334 shares during the quarter. Stanley Laman Group Ltd.’s holdings in Vertex Pharmaceuticals were worth $297,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of VRTX. Activest Wealth Management purchased a new position in Vertex Pharmaceuticals during the first quarter worth $25,000. Clal Insurance Enterprises Holdings Ltd lifted its position 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. Flaharty Asset Management LLC acquired a new stake in shares of Vertex Pharmaceuticals during the first quarter valued at $32,000. American National Bank & Trust increased its position in Vertex Pharmaceuticals by 515.4% during the 2nd quarter. American National Bank & Trust now owns 80 shares of the pharmaceutical company’s stock worth $36,000 after purchasing an additional 67 shares in the last quarter. Finally, University of Texas Texas AM Investment Management Co. purchased a new stake in Vertex Pharmaceuticals during the 1st quarter worth about $46,000. 90.96% of the stock is currently owned by institutional investors and hedge funds.

Vertex Pharmaceuticals Stock Up 2.0%

Shares of NASDAQ VRTX opened at $416.81 on Friday. The stock has a market capitalization of $106.87 billion, a PE ratio of 29.79 and a beta of 0.43. The firm has a fifty day moving average of $395.46 and a 200-day moving average of $436.43. 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 earnings results on Monday, August 4th. The pharmaceutical company reported $4.52 earnings per share for the quarter, beating analysts’ consensus estimates of $4.24 by $0.28. Vertex Pharmaceuticals had a return on equity of 23.91% and a net margin of 31.86%.The firm had revenue of $2.94 billion for the quarter, compared to analysts’ expectations of $2.90 billion. During the same quarter last year, the firm earned ($12.83) earnings per share. The firm’s revenue for the quarter was up 11.3% compared to the same quarter last year. Vertex Pharmaceuticals has set its FY 2025 guidance at EPS. Equities research analysts expect that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current fiscal year.

Insider Activity

In other Vertex Pharmaceuticals news, Director Bruce I. Sachs bought 5,000 shares of the company’s stock in a transaction that occurred 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 owned 45,000 shares in the company, valued at $17,535,600. This trade represents a 12.50% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on VRTX. Cantor Fitzgerald reduced their target price on shares of Vertex Pharmaceuticals from $535.00 to $485.00 and set an “overweight” rating on the stock in a report on Tuesday, August 5th. Wall Street Zen downgraded shares of Vertex Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Friday, August 22nd. Guggenheim lowered their target price on shares of Vertex Pharmaceuticals from $558.00 to $546.00 and set a “buy” rating for the company in a research note on Wednesday, August 6th. Scotiabank cut their price target on Vertex Pharmaceuticals from $442.00 to $438.00 and set a “sector perform” rating for the company in a report on Tuesday, August 5th. Finally, Raymond James Financial initiated coverage on Vertex Pharmaceuticals in a research note on Tuesday, September 2nd. They set a “market perform” rating on the stock. One equities 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 stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $494.38.

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.