Vertex Pharmaceuticals Incorporated $VRTX Shares Sold by Rhenman & Partners Asset Management AB

Rhenman & Partners Asset Management AB cut its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 7.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 61,455 shares of the pharmaceutical company’s stock after selling 5,295 shares during the quarter. Vertex Pharmaceuticals accounts for 3.5% of Rhenman & Partners Asset Management AB’s portfolio, making the stock its 3rd biggest holding. Rhenman & Partners Asset Management AB’s holdings in Vertex Pharmaceuticals were worth $27,360,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. United Services Automobile Association acquired a new position in Vertex Pharmaceuticals during the first quarter worth about $2,933,000. Lee Johnson Capital Management LLC purchased a new position in Vertex Pharmaceuticals in the 2nd quarter valued at approximately $721,000. Police & Firemen s Retirement System of New Jersey boosted its position in shares of Vertex Pharmaceuticals by 3.7% in the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 39,035 shares of the pharmaceutical company’s stock worth $17,378,000 after buying an additional 1,393 shares in the last quarter. Bailard Inc. raised its position in shares of Vertex Pharmaceuticals by 0.5% in the second quarter. Bailard Inc. now owns 38,147 shares of the pharmaceutical company’s stock valued at $16,983,000 after buying an additional 200 shares during the last quarter. Finally, SteelPeak Wealth LLC acquired a new stake in shares of Vertex Pharmaceuticals in the second quarter worth approximately $10,059,000. Hedge funds and other institutional investors own 90.96% of the company’s stock.

Insider Activity at Vertex Pharmaceuticals

In other news, Chairman Jeffrey M. Leiden sold 53,604 shares of the stock in a transaction that occurred on Friday, November 14th. The stock was sold at an average price of $440.72, for a total transaction of $23,624,354.88. Following the sale, the chairman directly 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.20% of the company’s stock.

Vertex Pharmaceuticals Stock Performance

Shares of NASDAQ:VRTX opened at $429.82 on Wednesday. The company’s fifty day moving average is $412.78 and its two-hundred day moving average is $424.99. Vertex Pharmaceuticals Incorporated has a 1-year low of $362.50 and a 1-year high of $519.68. The stock has a market capitalization of $109.05 billion, a price-to-earnings ratio of 30.72 and a beta of 0.36.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings data 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 the consensus estimate of $3.05 billion. Vertex Pharmaceuticals had a net margin of 31.86% and a return on equity of 23.91%. The company’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $4.38 EPS. Vertex Pharmaceuticals has set its FY 2025 guidance at EPS. Sell-side analysts expect that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on VRTX. Barclays increased their target price on Vertex Pharmaceuticals from $408.00 to $414.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 4th. UBS Group decreased 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 note on Friday, November 7th. Morgan Stanley cut their target price on shares of Vertex Pharmaceuticals from $439.00 to $438.00 and set an “equal weight” rating on the stock in a research note on Friday, October 10th. Wall Street Zen lowered shares of Vertex Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Friday, August 22nd. Finally, Canaccord Genuity Group decreased their price target on shares of Vertex Pharmaceuticals from $424.00 to $411.00 and set a “hold” rating for the company in a research report on Wednesday, August 6th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and eleven have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target 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.