Conning Inc. Sells 42 Shares of Vertex Pharmaceuticals Incorporated $VRTX

Conning Inc. cut its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 2.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,544 shares of the pharmaceutical company’s stock after selling 42 shares during the quarter. Conning Inc.’s holdings in Vertex Pharmaceuticals were worth $687,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of VRTX. 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 position in Vertex Pharmaceuticals in the 2nd quarter worth about $721,000. Aries Wealth Management purchased a new stake in Vertex Pharmaceuticals during the 1st quarter valued at about $293,000. SteelPeak Wealth LLC bought a new stake in Vertex Pharmaceuticals during the 2nd quarter valued at about $10,059,000. Finally, Moody Lynn & Lieberson LLC increased its stake in Vertex Pharmaceuticals by 1.4% during the 2nd quarter. Moody Lynn & Lieberson LLC now owns 58,077 shares of the pharmaceutical company’s stock valued at $25,856,000 after purchasing an additional 822 shares in the last quarter. 90.96% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Director Bruce I. Sachs acquired 5,000 shares of Vertex Pharmaceuticals 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 purchase, the director directly owned 45,000 shares in the company, valued at $17,535,600. The trade was a 12.50% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.20% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on VRTX. Raymond James Financial assumed coverage on shares of Vertex Pharmaceuticals in a research note on Tuesday, September 2nd. They set a “market perform” rating for the company. BMO Capital Markets set a $530.00 price target on shares of Vertex Pharmaceuticals and gave the company an “outperform” rating in a research report on Tuesday, August 5th. Leerink Partners raised Vertex Pharmaceuticals from a “market perform” rating to an “outperform” rating and reduced their target price for the stock from $458.00 to $456.00 in a report on Thursday, September 25th. Royal Bank Of Canada reduced their target price on Vertex Pharmaceuticals from $430.00 to $405.00 and set a “sector perform” rating for the company in a report on Tuesday, August 5th. Finally, Stifel Nicolaus dropped their price objective on Vertex Pharmaceuticals from $494.00 to $455.00 and set a “hold” rating on the stock in a research report on Tuesday, August 5th. One investment 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 data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $494.38.

Vertex Pharmaceuticals Trading Down 1.7%

NASDAQ VRTX opened at $407.79 on Friday. The stock has a market cap of $104.55 billion, a PE ratio of 29.15 and a beta of 0.43. The stock’s 50 day moving average is $393.91 and its 200 day moving average is $439.18. Vertex Pharmaceuticals Incorporated has a 12 month low of $362.50 and a 12 month high of $519.88.

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