Wealthfront Advisers LLC Sells 3,014 Shares of Vertex Pharmaceuticals Incorporated $VRTX

Wealthfront Advisers LLC decreased its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 6.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 43,918 shares of the pharmaceutical company’s stock after selling 3,014 shares during the period. Wealthfront Advisers LLC’s holdings in Vertex Pharmaceuticals were worth $19,552,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in VRTX. Activest Wealth Management acquired a new stake in Vertex Pharmaceuticals during the 1st quarter valued at approximately $25,000. Clal Insurance Enterprises Holdings Ltd increased its position in shares of Vertex Pharmaceuticals by 450.0% during the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 55 shares of the pharmaceutical company’s stock worth $27,000 after buying an additional 45 shares during the period. Flaharty Asset Management LLC bought a new position in Vertex Pharmaceuticals during the first quarter worth $32,000. American National Bank & Trust lifted its holdings in Vertex Pharmaceuticals by 515.4% in the second quarter. American National Bank & Trust now owns 80 shares of the pharmaceutical company’s stock valued at $36,000 after buying an additional 67 shares during the period. Finally, University of Texas Texas AM Investment Management Co. acquired a new position in Vertex Pharmaceuticals in the first quarter valued at $46,000. 90.96% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently weighed in on VRTX shares. UBS Group set a $553.00 price objective on Vertex Pharmaceuticals and gave the stock a “buy” rating in a research report on Tuesday, August 5th. Evercore ISI lowered their target price on Vertex Pharmaceuticals from $510.00 to $475.00 and set an “outperform” rating for the company in a report on Thursday, September 11th. BMO Capital Markets set a $530.00 price target on Vertex Pharmaceuticals and gave the stock an “outperform” rating in a report on Tuesday, August 5th. Scotiabank lowered their price objective on shares of Vertex Pharmaceuticals from $442.00 to $438.00 and set a “sector perform” rating for the company in a research note on Tuesday, August 5th. Finally, Wells Fargo & Company raised shares of Vertex Pharmaceuticals from an “equal weight” rating to an “overweight” rating and set a $460.00 target price on the stock in a research note on Wednesday, August 6th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and twelve have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $494.38.

Insider Buying and Selling

In related news, Director Bruce I. Sachs acquired 5,000 shares of the stock in a transaction dated Wednesday, August 6th. The stock was purchased at an average cost of $389.68 per share, with a total value of $1,948,400.00. Following the completion of the purchase, the director directly owned 45,000 shares in the company, valued at $17,535,600. This trade represents a 12.50% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.20% of the company’s stock.

Vertex Pharmaceuticals Trading Down 0.3%

Vertex Pharmaceuticals stock opened at $421.39 on Friday. The firm has a market capitalization of $108.04 billion, a price-to-earnings ratio of 30.12 and a beta of 0.43. The firm’s fifty day moving average price is $398.96 and its two-hundred day moving average price is $434.61. Vertex Pharmaceuticals Incorporated has a 1-year low of $362.50 and a 1-year high of $519.88.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its 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. 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 the consensus estimate of $2.90 billion. During the same period in the previous year, the firm posted ($12.83) earnings per share. The firm’s revenue for the quarter was up 11.3% on a year-over-year basis. Vertex Pharmaceuticals has set its FY 2025 guidance at EPS. On average, research analysts forecast that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current year.

About Vertex Pharmaceuticals

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.