Vertex Pharmaceuticals Incorporated $VRTX Stake Decreased by Pinnacle Wealth Planning Services Inc.

Pinnacle Wealth Planning Services Inc. cut its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 20.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 868 shares of the pharmaceutical company’s stock after selling 218 shares during the period. Pinnacle Wealth Planning Services Inc.’s holdings in Vertex Pharmaceuticals were worth $386,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. United Services Automobile Association acquired a new position in Vertex Pharmaceuticals during the 1st quarter valued at about $2,933,000. Lee Johnson Capital Management LLC acquired a new stake in shares of Vertex Pharmaceuticals in the 2nd quarter worth approximately $721,000. Police & Firemen s Retirement System of New Jersey boosted its holdings in shares of Vertex Pharmaceuticals by 3.7% in the second quarter. Police & Firemen s Retirement System of New Jersey now owns 39,035 shares of the pharmaceutical company’s stock valued at $17,378,000 after acquiring an additional 1,393 shares in the last quarter. Bailard Inc. increased its stake in shares of Vertex Pharmaceuticals by 0.5% during the second quarter. Bailard Inc. now owns 38,147 shares of the pharmaceutical company’s stock valued at $16,983,000 after acquiring an additional 200 shares during the period. Finally, SteelPeak Wealth LLC bought a new stake in Vertex Pharmaceuticals during the second quarter worth approximately $10,059,000. 90.96% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Chairman Jeffrey M. Leiden sold 53,604 shares of the company’s stock in a transaction that occurred on Friday, November 14th. The shares were sold at an average price of $440.72, for a total value of $23,624,354.88. Following the completion of the sale, the chairman owned 24,026 shares in the company, valued at approximately $10,588,738.72. This represents a 69.05% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.20% of the stock is owned by corporate insiders.

Vertex Pharmaceuticals Stock Up 0.3%

Shares of NASDAQ VRTX opened at $435.52 on Wednesday. Vertex Pharmaceuticals Incorporated has a 12 month low of $362.50 and a 12 month high of $519.68. The company has a market cap of $110.50 billion, a price-to-earnings ratio of 31.13 and a beta of 0.36. The business has a fifty day simple moving average of $409.60 and a 200-day simple moving average of $425.81.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly earnings data on Monday, November 3rd. The pharmaceutical company reported $4.80 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $3.08 billion for the quarter, compared to the consensus estimate of $3.05 billion. During the same quarter in the previous year, the company earned $4.38 EPS. The business’s revenue for the quarter was up 11.0% compared to the same quarter last year. Vertex Pharmaceuticals has set its FY 2025 guidance at EPS. As a group, sell-side analysts expect that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

VRTX has been the subject of a number of research reports. Leerink Partners raised Vertex Pharmaceuticals from a “market perform” rating to an “outperform” rating and decreased their price target for the company from $458.00 to $456.00 in a research note on Thursday, September 25th. BMO Capital Markets set a $530.00 target price on Vertex Pharmaceuticals and gave the company an “outperform” rating in a research note on Tuesday, August 5th. Barclays boosted their price target on shares of Vertex Pharmaceuticals from $408.00 to $414.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 4th. Weiss Ratings restated a “hold (c+)” rating on shares of Vertex Pharmaceuticals in a research report on Wednesday, October 8th. Finally, Scotiabank initiated coverage on shares of Vertex Pharmaceuticals in a research note on Thursday, November 13th. They issued a “sector outperform” rating and a $495.00 price objective on the stock. Two analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and eleven have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $491.95.

Vertex Pharmaceuticals Company 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.