Vertex Pharmaceuticals Incorporated $VRTX Shares Sold by MV Capital Management Inc.

MV Capital Management Inc. decreased its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 51.7% in the 2nd quarter, HoldingsChannel reports. The firm owned 196 shares of the pharmaceutical company’s stock after selling 210 shares during the quarter. MV Capital Management Inc.’s holdings in Vertex Pharmaceuticals were worth $87,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Advisor OS LLC grew its position in Vertex Pharmaceuticals by 4.4% in the 1st quarter. Advisor OS LLC now owns 543 shares of the pharmaceutical company’s stock valued at $263,000 after buying an additional 23 shares in the last quarter. Costello Asset Management INC lifted its stake in shares of Vertex Pharmaceuticals by 3.6% in the 2nd quarter. Costello Asset Management INC now owns 689 shares of the pharmaceutical company’s stock worth $307,000 after acquiring an additional 24 shares during the period. Kovack Advisors Inc. boosted its holdings in shares of Vertex Pharmaceuticals by 1.9% in the second quarter. Kovack Advisors Inc. now owns 1,280 shares of the pharmaceutical company’s stock valued at $570,000 after acquiring an additional 24 shares in the last quarter. Newman Dignan & Sheerar Inc. boosted its holdings in shares of Vertex Pharmaceuticals by 3.3% in the second quarter. Newman Dignan & Sheerar Inc. now owns 786 shares of the pharmaceutical company’s stock valued at $350,000 after acquiring an additional 25 shares in the last quarter. Finally, Eastern Bank increased its stake in shares of Vertex Pharmaceuticals by 1.6% during the second quarter. Eastern Bank now owns 1,635 shares of the pharmaceutical company’s stock valued at $728,000 after acquiring an additional 25 shares during the period. 90.96% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on VRTX shares. Evercore ISI cut their target price on Vertex Pharmaceuticals from $510.00 to $475.00 and set an “outperform” rating for the company in a research report on Thursday, September 11th. Wall Street Zen lowered Vertex Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Friday, August 22nd. Guggenheim lowered their target price on Vertex Pharmaceuticals from $558.00 to $546.00 and set a “buy” rating on the stock in a report on Wednesday, August 6th. Citigroup boosted their price target on shares of Vertex Pharmaceuticals from $550.00 to $575.00 and gave the stock a “buy” rating in a research report on Thursday, October 2nd. Finally, UBS Group reduced their price objective on shares of Vertex Pharmaceuticals from $553.00 to $546.00 and set a “buy” rating for the company in a research report on Friday, November 7th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and eleven have given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $491.95.

Vertex Pharmaceuticals Stock Up 0.1%

Shares of NASDAQ VRTX opened at $434.52 on Friday. The stock’s fifty day simple moving average is $407.22 and its 200 day simple moving average is $428.25. The stock has a market capitalization of $110.25 billion, a price-to-earnings ratio of 31.06 and a beta of 0.36. Vertex Pharmaceuticals Incorporated has a 52-week low of $362.50 and a 52-week high of $519.68.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its quarterly earnings results on Monday, November 3rd. The pharmaceutical company reported $4.80 earnings per share for the quarter, beating analysts’ consensus estimates of $4.58 by $0.22. The business had revenue of $3.08 billion during the quarter, compared to analyst estimates of $3.05 billion. Vertex Pharmaceuticals had a return on equity of 23.91% and a net margin of 31.86%.Vertex Pharmaceuticals’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same quarter last year, the company posted $4.38 EPS. Vertex Pharmaceuticals has set its FY 2025 guidance at EPS. As a group, analysts anticipate that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share 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.