Hobbs Group Advisors LLC Sells 599 Shares of Vertex Pharmaceuticals Incorporated $VRTX

Hobbs Group Advisors LLC reduced its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 18.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,608 shares of the pharmaceutical company’s stock after selling 599 shares during the period. Hobbs Group Advisors LLC’s holdings in Vertex Pharmaceuticals were worth $1,161,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. United Services Automobile Association bought a new stake in Vertex Pharmaceuticals in the first quarter valued at $2,933,000. Lee Johnson Capital Management LLC bought a new stake in Vertex Pharmaceuticals in the second quarter valued at $721,000. Aries Wealth Management bought a new stake in Vertex Pharmaceuticals in the first quarter valued at $293,000. SteelPeak Wealth LLC acquired a new position in shares of Vertex Pharmaceuticals during the second quarter valued at about $10,059,000. Finally, Moody Lynn & Lieberson LLC grew its holdings in shares of Vertex Pharmaceuticals by 1.4% during the second quarter. Moody Lynn & Lieberson LLC now owns 58,077 shares of the pharmaceutical company’s stock valued at $25,856,000 after buying an additional 822 shares during the last quarter. 90.96% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Citigroup lifted their price objective on shares of Vertex Pharmaceuticals from $550.00 to $575.00 and gave the company a “buy” rating in a report on Thursday, October 2nd. Scotiabank reduced their price objective on shares of Vertex Pharmaceuticals from $442.00 to $438.00 and set a “sector perform” rating for the company in a report on Tuesday, August 5th. Wells Fargo & Company upgraded shares of Vertex Pharmaceuticals from an “equal weight” rating to an “overweight” rating and set a $460.00 price objective for the company in a report on Wednesday, August 6th. Leerink Partners upgraded shares of Vertex Pharmaceuticals from a “market perform” rating to an “outperform” rating and reduced their price objective for the company from $458.00 to $456.00 in a report on Thursday, September 25th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Vertex Pharmaceuticals in a report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and twelve have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $494.38.

Vertex Pharmaceuticals Stock Performance

Vertex Pharmaceuticals stock opened at $407.79 on Friday. Vertex Pharmaceuticals Incorporated has a fifty-two week low of $362.50 and a fifty-two week high of $519.88. The stock has a market cap of $104.55 billion, a PE ratio of 29.15 and a beta of 0.43. The firm’s 50-day simple moving average is $393.91 and its 200 day simple moving average is $439.18.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its quarterly earnings results on Monday, August 4th. The pharmaceutical company reported $4.52 earnings per share for the quarter, topping 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 business had revenue of $2.94 billion for the quarter, compared to analysts’ expectations of $2.90 billion. During the same period in the previous year, the company earned ($12.83) earnings per share. The firm’s revenue for the quarter was up 11.3% compared to the same quarter last year. Vertex Pharmaceuticals has set its FY 2025 guidance at EPS. As a group, analysts predict that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Bruce I. Sachs acquired 5,000 shares of the stock in a transaction on Wednesday, August 6th. The shares were acquired at an average price of $389.68 per share, with a total value of $1,948,400.00. Following the completion of the transaction, the director owned 45,000 shares in the company, valued at approximately $17,535,600. The trade was a 12.50% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.20% of the company’s stock.

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.