Vertex Pharmaceuticals Incorporated $VRTX Stock Position Reduced by Modera Wealth Management LLC

Modera Wealth Management LLC decreased its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 3.6% in the 2nd quarter, Holdings Channel.com reports. The fund owned 23,105 shares of the pharmaceutical company’s stock after selling 868 shares during the period. Modera Wealth Management LLC’s holdings in Vertex Pharmaceuticals were worth $10,286,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Souders Financial Advisors grew its stake in Vertex Pharmaceuticals by 20.4% during the 2nd quarter. Souders Financial Advisors now owns 1,309 shares of the pharmaceutical company’s stock worth $583,000 after buying an additional 222 shares during the last quarter. Washington Trust Bank boosted its holdings in shares of Vertex Pharmaceuticals by 3.3% during the second quarter. Washington Trust Bank now owns 29,243 shares of the pharmaceutical company’s stock valued at $13,019,000 after acquiring an additional 943 shares during the period. Golden State Wealth Management LLC boosted its holdings in shares of Vertex Pharmaceuticals by 169.5% during the second quarter. Golden State Wealth Management LLC now owns 256 shares of the pharmaceutical company’s stock valued at $114,000 after acquiring an additional 161 shares during the period. Graphene Investments SAS grew its position in shares of Vertex Pharmaceuticals by 23.6% during the second quarter. Graphene Investments SAS now owns 6,800 shares of the pharmaceutical company’s stock worth $3,027,000 after acquiring an additional 1,300 shares during the last quarter. Finally, Resona Asset Management Co. Ltd. increased its holdings in shares of Vertex Pharmaceuticals by 6.3% in the 2nd quarter. Resona Asset Management Co. Ltd. now owns 96,449 shares of the pharmaceutical company’s stock worth $42,883,000 after acquiring an additional 5,687 shares during the period. 90.96% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have issued reports on VRTX shares. Evercore ISI reduced their target price 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. Wall Street Zen cut Vertex Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Friday, August 22nd. HC Wainwright reduced their price objective on Vertex Pharmaceuticals from $550.00 to $478.00 and set a “buy” rating for the company in a research report on Tuesday, August 5th. Cantor Fitzgerald lowered their target price on Vertex Pharmaceuticals from $535.00 to $485.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 5th. Finally, Scotiabank cut their target price on Vertex Pharmaceuticals from $442.00 to $438.00 and set a “sector perform” rating on the stock in a research note on Tuesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and twelve have given a Hold rating to the company. According to data from MarketBeat.com, Vertex Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus target price of $489.10.

Vertex Pharmaceuticals Price Performance

Shares of NASDAQ:VRTX opened at $409.47 on Friday. The stock has a market cap of $104.98 billion, a price-to-earnings ratio of 29.27 and a beta of 0.36. Vertex Pharmaceuticals Incorporated has a 12 month low of $362.50 and a 12 month high of $519.88. The stock’s 50 day moving average price is $404.55 and its 200 day moving average price is $429.99.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings results on Monday, November 3rd. The pharmaceutical company reported $4.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.58 by $0.22. Vertex Pharmaceuticals had a return on equity of 23.91% and a net margin of 31.86%.The company had revenue of $3.08 billion for the quarter, compared to analysts’ expectations of $3.05 billion. During the same period last year, the firm earned $4.38 EPS. The firm’s revenue for the quarter was up 11.0% on a year-over-year basis. Vertex Pharmaceuticals has set its FY 2025 guidance at EPS. On average, sell-side analysts expect 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.