iA Global Asset Management Inc. Sells 167 Shares of Vertex Pharmaceuticals Incorporated $VRTX

iA Global Asset Management Inc. cut its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 0.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 35,157 shares of the pharmaceutical company’s stock after selling 167 shares during the period. iA Global Asset Management Inc.’s holdings in Vertex Pharmaceuticals were worth $15,652,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Activest Wealth Management bought a new position in Vertex Pharmaceuticals in the first quarter worth approximately $25,000. Clal Insurance Enterprises Holdings Ltd increased its stake 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 worth $27,000 after purchasing an additional 45 shares in the last quarter. Flaharty Asset Management LLC purchased a new stake in shares of Vertex Pharmaceuticals in the first quarter worth $32,000. American National Bank & Trust increased its stake in shares of Vertex Pharmaceuticals by 515.4% in the second 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, Solstein Capital LLC purchased a new stake in shares of Vertex Pharmaceuticals in the second quarter worth $40,000. 90.96% of the stock is currently owned by institutional investors.

Insider Activity at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, Director Bruce I. Sachs acquired 5,000 shares of the company’s stock in a transaction on Wednesday, August 6th. The stock was acquired at an average cost of $389.68 per share, with a total value of $1,948,400.00. Following the purchase, the director directly owned 45,000 shares of the company’s stock, valued at approximately $17,535,600. This represents a 12.50% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.20% of the stock is owned by insiders.

Analyst Ratings Changes

VRTX has been the subject of a number of analyst reports. Cantor Fitzgerald reduced their price objective on shares of Vertex Pharmaceuticals from $535.00 to $485.00 and set an “overweight” rating for the company in a research note on Tuesday, August 5th. Citigroup increased their price objective on shares of Vertex Pharmaceuticals from $550.00 to $575.00 and gave the stock a “buy” rating in a research note on Thursday, October 2nd. Leerink Partnrs raised shares of Vertex Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a research note on Thursday, September 25th. UBS Group set a $553.00 price objective on shares of Vertex Pharmaceuticals and gave the stock a “buy” rating in a research note on Tuesday, August 5th. Finally, Evercore ISI reduced their price objective on shares of Vertex Pharmaceuticals from $510.00 to $475.00 and set an “outperform” rating for the company in a research note on Thursday, September 11th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and twelve have given a Hold rating to the stock. According to MarketBeat, Vertex Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus target price of $492.10.

Vertex Pharmaceuticals Stock Performance

VRTX opened at $425.57 on Friday. The stock has a market capitalization of $109.11 billion, a price-to-earnings ratio of 30.42 and a beta of 0.43. The company has a fifty day moving average of $401.71 and a 200 day moving average of $431.95. Vertex Pharmaceuticals Incorporated has a fifty-two week low of $362.50 and a fifty-two week high of $519.88.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its earnings results on Monday, August 4th. The pharmaceutical company reported $4.52 earnings per share for the quarter, beating 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 analysts’ expectations of $2.90 billion. During the same period last year, the company posted ($12.83) earnings per share. Vertex Pharmaceuticals’s quarterly revenue was up 11.3% on a year-over-year basis. Vertex Pharmaceuticals has set its FY 2025 guidance at EPS. On average, equities research analysts forecast that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share 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.