KRS Capital Management LLC Reduces Position in Vertex Pharmaceuticals Incorporated $VRTX

KRS Capital Management LLC cut its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 6.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,622 shares of the pharmaceutical company’s stock after selling 115 shares during the quarter. KRS Capital Management LLC’s holdings in Vertex Pharmaceuticals were worth $722,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Activest Wealth Management purchased a new stake in Vertex Pharmaceuticals during the first quarter valued at about $25,000. Clal Insurance Enterprises Holdings Ltd lifted its holdings in Vertex Pharmaceuticals by 450.0% during the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 55 shares of the pharmaceutical company’s stock valued at $27,000 after purchasing an additional 45 shares during the last quarter. Flaharty Asset Management LLC purchased a new stake in Vertex Pharmaceuticals during the first quarter valued at about $32,000. American National Bank & Trust lifted its holdings in Vertex Pharmaceuticals by 515.4% during the second quarter. American National Bank & Trust now owns 80 shares of the pharmaceutical company’s stock valued at $36,000 after purchasing an additional 67 shares during the last quarter. Finally, University of Texas Texas AM Investment Management Co. purchased a new stake in Vertex Pharmaceuticals during the first quarter valued at about $46,000. 90.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

VRTX has been the topic of several recent research reports. Wells Fargo & Company raised shares of Vertex Pharmaceuticals from an “equal weight” rating to an “overweight” rating and set a $460.00 price objective on the stock in a report on Wednesday, August 6th. Cantor Fitzgerald lowered their price target on shares of Vertex Pharmaceuticals from $535.00 to $485.00 and set an “overweight” rating on the stock in a report on Tuesday, August 5th. Scotiabank lowered their price target on shares of Vertex Pharmaceuticals from $442.00 to $438.00 and set a “sector perform” rating on the stock in a report on Tuesday, August 5th. HC Wainwright lowered their price target on shares of Vertex Pharmaceuticals from $550.00 to $478.00 and set a “buy” rating on the stock in a report on Tuesday, August 5th. Finally, Leerink Partnrs raised shares of Vertex Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a report on Thursday, September 25th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and twelve have issued a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $494.43.

Vertex Pharmaceuticals Price Performance

Shares of VRTX opened at $414.86 on Friday. The firm’s 50 day simple moving average is $394.99 and its 200 day simple moving average is $440.30. The company has a market capitalization of $106.37 billion, a P/E ratio of 29.65 and a beta of 0.43. Vertex Pharmaceuticals Incorporated has a 1-year low of $362.50 and a 1-year high of $519.88.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its earnings results on Monday, August 4th. The pharmaceutical company reported $4.52 earnings per share for the quarter, beating analysts’ consensus estimates of $4.24 by $0.28. The business had revenue of $2.94 billion for the quarter, compared to the consensus estimate of $2.90 billion. Vertex Pharmaceuticals had a net margin of 31.86% and a return on equity of 23.91%. Vertex Pharmaceuticals’s quarterly revenue was up 11.3% on a year-over-year basis. During the same period last year, the firm posted ($12.83) earnings per share. Vertex Pharmaceuticals has set its FY 2025 guidance at EPS. On average, equities analysts anticipate that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Bruce I. Sachs bought 5,000 shares of the stock in a transaction that occurred on Wednesday, August 6th. The shares were acquired at an average cost of $389.68 per share, with a total value of $1,948,400.00. Following the completion of the purchase, the director directly owned 45,000 shares of the company’s stock, valued at $17,535,600. This trade represents a 12.50% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. 0.20% of the stock is owned by corporate insiders.

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.