Transcend Capital Advisors LLC Sells 1,522 Shares of Vertex Pharmaceuticals Incorporated $VRTX

Transcend Capital Advisors LLC decreased its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 46.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,744 shares of the pharmaceutical company’s stock after selling 1,522 shares during the period. Transcend Capital Advisors LLC’s holdings in Vertex Pharmaceuticals were worth $776,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in Vertex Pharmaceuticals by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 23,491,161 shares of the pharmaceutical company’s stock worth $11,388,985,000 after purchasing an additional 232,873 shares during the period. Jennison Associates LLC raised its position in Vertex Pharmaceuticals by 17.2% in the 1st quarter. Jennison Associates LLC now owns 5,062,442 shares of the pharmaceutical company’s stock worth $2,454,373,000 after purchasing an additional 744,680 shares during the period. Alliancebernstein L.P. raised its position in Vertex Pharmaceuticals by 0.9% in the 1st quarter. Alliancebernstein L.P. now owns 3,953,512 shares of the pharmaceutical company’s stock worth $1,916,742,000 after purchasing an additional 33,492 shares during the period. Price T Rowe Associates Inc. MD raised its position in Vertex Pharmaceuticals by 72.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,917,227 shares of the pharmaceutical company’s stock worth $1,414,331,000 after purchasing an additional 1,226,527 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Vertex Pharmaceuticals by 9.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,559,476 shares of the pharmaceutical company’s stock worth $1,240,885,000 after purchasing an additional 230,257 shares during the period. 90.96% of the stock is owned by hedge funds and other institutional investors.

Vertex Pharmaceuticals Stock Performance

Shares of NASDAQ:VRTX opened at $422.39 on Wednesday. The firm’s 50 day simple moving average is $400.19 and its 200-day simple moving average is $433.48. Vertex Pharmaceuticals Incorporated has a one year low of $362.50 and a one year high of $519.88. The firm has a market cap of $108.30 billion, a PE ratio of 30.19 and a beta of 0.43.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its quarterly earnings data on Monday, August 4th. The pharmaceutical company reported $4.52 earnings per share (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 firm had revenue of $2.94 billion for the quarter, compared to the consensus estimate of $2.90 billion. During the same period last year, the firm earned ($12.83) earnings per share. The company’s quarterly revenue was up 11.3% on a year-over-year basis. Vertex Pharmaceuticals has set its FY 2025 guidance at EPS. Equities research analysts predict 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 acquired 5,000 shares of the company’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 completion of the purchase, 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 0.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Royal Bank Of Canada reduced their price objective on shares of Vertex Pharmaceuticals from $430.00 to $405.00 and set a “sector perform” rating on the stock in a research report on Tuesday, August 5th. Scotiabank reduced their price objective on shares of Vertex Pharmaceuticals from $442.00 to $438.00 and set a “sector perform” rating on the stock in a research report on Tuesday, August 5th. Wall Street Zen lowered shares of Vertex Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Friday, August 22nd. HC Wainwright reduced their target price on shares of Vertex Pharmaceuticals from $550.00 to $478.00 and set a “buy” rating on the stock in a research report on Tuesday, August 5th. Finally, Guggenheim reduced their target price on shares of Vertex Pharmaceuticals from $558.00 to $546.00 and set a “buy” rating on the stock in a research report on Wednesday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and twelve have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently 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.