Concord Wealth Partners Sells 3,459 Shares of Vertex Pharmaceuticals Incorporated $VRTX

Concord Wealth Partners reduced its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 97.5% during the second quarter, Holdings Channel.com reports. The institutional investor owned 90 shares of the pharmaceutical company’s stock after selling 3,459 shares during the quarter. Concord Wealth Partners’ holdings in Vertex Pharmaceuticals were worth $40,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. Advisor OS LLC boosted its position in shares of Vertex Pharmaceuticals by 4.4% during the first quarter. Advisor OS LLC now owns 543 shares of the pharmaceutical company’s stock valued at $263,000 after purchasing an additional 23 shares in the last quarter. Costello Asset Management INC boosted its holdings in Vertex Pharmaceuticals by 3.6% in the second quarter. Costello Asset Management INC now owns 689 shares of the pharmaceutical company’s stock worth $307,000 after acquiring an additional 24 shares in the last quarter. Avidian Wealth Enterprises LLC raised its stake in shares of Vertex Pharmaceuticals by 2.1% in the first quarter. Avidian Wealth Enterprises LLC now owns 1,225 shares of the pharmaceutical company’s stock worth $594,000 after purchasing an additional 25 shares during the last quarter. Strategic Blueprint LLC raised its stake in shares of Vertex Pharmaceuticals by 1.7% in the first quarter. Strategic Blueprint LLC now owns 1,498 shares of the pharmaceutical company’s stock worth $726,000 after purchasing an additional 25 shares during the last quarter. Finally, Newman Dignan & Sheerar Inc. increased its position in Vertex Pharmaceuticals by 3.3% during the second quarter. Newman Dignan & Sheerar Inc. now owns 786 shares of the pharmaceutical company’s stock valued at $350,000 after acquiring an additional 25 shares during the last quarter. 90.96% of the stock is currently owned by institutional investors.

Vertex Pharmaceuticals Trading Up 1.2%

Shares of NASDAQ VRTX opened at $412.22 on Wednesday. The stock has a market capitalization of $105.69 billion, a PE ratio of 29.47 and a beta of 0.43. The stock’s fifty day simple moving average is $393.35 and its two-hundred day simple moving average is $437.96. 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 earnings results on Monday, August 4th. The pharmaceutical company reported $4.52 earnings per share (EPS) for the quarter, beating 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 return on equity of 23.91% and a net margin of 31.86%.The business’s revenue for the quarter was up 11.3% on a year-over-year basis. During the same quarter last year, the firm earned ($12.83) EPS. Vertex Pharmaceuticals has set its FY 2025 guidance at EPS. On average, equities analysts predict that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Leerink Partners raised Vertex Pharmaceuticals from a “market perform” rating to an “outperform” rating and cut their price target for the company from $458.00 to $456.00 in a report on Thursday, September 25th. HC Wainwright dropped their price target on Vertex Pharmaceuticals from $550.00 to $478.00 and set a “buy” rating for the company in a research note on Tuesday, August 5th. Evercore ISI decreased their price objective on Vertex Pharmaceuticals from $510.00 to $475.00 and set an “outperform” rating on the stock in a research report on Thursday, September 11th. Wells Fargo & Company upgraded Vertex Pharmaceuticals from an “equal weight” rating to an “overweight” rating and set a $460.00 price target on the stock in a report on Wednesday, August 6th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Vertex Pharmaceuticals in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and twelve have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $494.38.

Insider Transactions at Vertex Pharmaceuticals

In related news, Director Bruce I. Sachs bought 5,000 shares of the company’s 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 transaction, the director owned 45,000 shares of the company’s stock, valued at $17,535,600. The trade was a 12.50% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company 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.