iA Global Asset Management Inc. Sells 167 Shares of Vertex Pharmaceuticals Incorporated $VRTX

iA Global Asset Management Inc. lessened its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 0.5% in the 2nd quarter, Holdings Channel.com reports. The fund owned 35,157 shares of the pharmaceutical company’s stock after selling 167 shares during the period. iA Global Asset Management Inc.’s holdings in Vertex Pharmaceuticals were worth $15,652,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in VRTX. Brighton Jones LLC lifted its holdings in shares of Vertex Pharmaceuticals by 15.0% in the 4th quarter. Brighton Jones LLC now owns 4,427 shares of the pharmaceutical company’s stock worth $1,783,000 after acquiring an additional 579 shares during the last quarter. Conning Inc. lifted its holdings in shares of Vertex Pharmaceuticals by 12.2% in the 1st quarter. Conning Inc. now owns 1,586 shares of the pharmaceutical company’s stock worth $769,000 after acquiring an additional 172 shares during the last quarter. Avantax Planning Partners Inc. lifted its holdings in shares of Vertex Pharmaceuticals by 18.9% in the 1st quarter. Avantax Planning Partners Inc. now owns 1,194 shares of the pharmaceutical company’s stock worth $579,000 after acquiring an additional 190 shares during the last quarter. Strategic Blueprint LLC lifted its holdings in shares of Vertex Pharmaceuticals by 1.7% in the 1st quarter. Strategic Blueprint LLC now owns 1,498 shares of the pharmaceutical company’s stock worth $726,000 after acquiring an additional 25 shares during the last quarter. Finally, Impax Asset Management Group plc lifted its holdings in shares of Vertex Pharmaceuticals by 1.1% in the 1st quarter. Impax Asset Management Group plc now owns 6,999 shares of the pharmaceutical company’s stock worth $3,393,000 after acquiring an additional 75 shares during the last quarter. Institutional investors own 90.96% of the company’s stock.

Insider Activity at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, Director Bruce I. Sachs purchased 5,000 shares of Vertex Pharmaceuticals stock in a transaction dated Wednesday, August 6th. The stock was acquired at an average price of $389.68 per share, for a total transaction of $1,948,400.00. Following the acquisition, the director owned 45,000 shares in the company, valued at $17,535,600. This trade represents a 12.50% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.20% of the company’s stock.

Vertex Pharmaceuticals Stock Performance

NASDAQ:VRTX opened at $425.57 on Friday. Vertex Pharmaceuticals Incorporated has a one year low of $362.50 and a one year high of $519.88. The firm has a market cap of $109.11 billion, a P/E ratio of 30.42 and a beta of 0.43. The firm has a 50-day simple moving average of $401.71 and a 200-day simple moving average of $431.95.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly earnings results on Monday, August 4th. The pharmaceutical company reported $4.52 EPS for the quarter, beating 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 during the quarter, compared to analyst estimates of $2.90 billion. During the same quarter in the previous year, the business posted ($12.83) EPS. The company’s quarterly revenue was up 11.3% compared to the same quarter last year. Vertex Pharmaceuticals has set its FY 2025 guidance at EPS. On average, research analysts predict that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

VRTX has been the subject of several analyst reports. Morgan Stanley lowered their target price on shares of Vertex Pharmaceuticals from $439.00 to $438.00 and set an “equal weight” rating for the company in a report on Friday, October 10th. Royal Bank Of Canada decreased their price objective on shares of Vertex Pharmaceuticals from $430.00 to $405.00 and set a “sector perform” rating for the company in a report on Tuesday, August 5th. Evercore ISI decreased their price objective on shares of Vertex Pharmaceuticals from $510.00 to $475.00 and set an “outperform” rating for the company in a report on Thursday, September 11th. Truist Financial set a $490.00 price objective on shares of Vertex Pharmaceuticals and gave the company a “buy” rating in a report on Tuesday, August 5th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Vertex Pharmaceuticals in a report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Vertex Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus target price of $492.10.

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.