Vertex Pharmaceuticals Incorporated $VRTX Stake Cut by Pinnacle Wealth Planning Services Inc.

Pinnacle Wealth Planning Services Inc. cut its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 20.1% in the second quarter, HoldingsChannel reports. The fund owned 868 shares of the pharmaceutical company’s stock after selling 218 shares during the quarter. Pinnacle Wealth Planning Services Inc.’s holdings in Vertex Pharmaceuticals were worth $386,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in VRTX. Brighton Jones LLC grew its position in Vertex Pharmaceuticals by 15.0% during the fourth quarter. Brighton Jones LLC now owns 4,427 shares of the pharmaceutical company’s stock valued at $1,783,000 after purchasing an additional 579 shares in the last quarter. Kingsview Wealth Management LLC purchased a new stake in Vertex Pharmaceuticals in the 1st quarter worth approximately $264,000. Private Advisor Group LLC boosted its stake in shares of Vertex Pharmaceuticals by 3.4% during the 1st quarter. Private Advisor Group LLC now owns 7,452 shares of the pharmaceutical company’s stock valued at $3,613,000 after buying an additional 242 shares during the period. J.W. Cole Advisors Inc. grew its holdings in shares of Vertex Pharmaceuticals by 147.2% during the 1st quarter. J.W. Cole Advisors Inc. now owns 1,753 shares of the pharmaceutical company’s stock valued at $850,000 after acquiring an additional 1,044 shares in the last quarter. Finally, Crestwood Advisors Group LLC increased its stake in shares of Vertex Pharmaceuticals by 77.2% in the first quarter. Crestwood Advisors Group LLC now owns 10,275 shares of the pharmaceutical company’s stock worth $4,982,000 after acquiring an additional 4,476 shares during the last quarter. Institutional investors and hedge funds own 90.96% of the company’s stock.

Vertex Pharmaceuticals Stock Performance

Shares of VRTX stock opened at $435.52 on Wednesday. The stock’s 50 day simple moving average is $409.60 and its 200 day simple moving average is $425.81. Vertex Pharmaceuticals Incorporated has a twelve month low of $362.50 and a twelve month high of $519.68. The company has a market capitalization of $110.50 billion, a price-to-earnings ratio of 31.13 and a beta of 0.36.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings results on Monday, November 3rd. The pharmaceutical company reported $4.80 EPS for the quarter, beating the consensus estimate of $4.58 by $0.22. Vertex Pharmaceuticals had a return on equity of 23.91% and a net margin of 31.86%.The company had revenue of $3.08 billion for the quarter, compared to the consensus estimate of $3.05 billion. During the same quarter last year, the company posted $4.38 earnings per share. The company’s revenue for the quarter was up 11.0% compared to the same quarter last year. 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.

Insider Transactions at Vertex Pharmaceuticals

In related news, Chairman Jeffrey M. Leiden sold 53,604 shares of the firm’s stock in a transaction on Friday, November 14th. The shares were sold at an average price of $440.72, for a total value of $23,624,354.88. Following the transaction, the chairman directly owned 24,026 shares in the company, valued at approximately $10,588,738.72. This trade represents a 69.05% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.20% of the company’s stock.

Analyst Upgrades and Downgrades

VRTX has been the subject of a number of research reports. Evercore ISI reduced their price objective on Vertex Pharmaceuticals from $510.00 to $475.00 and set an “outperform” rating for the company in a research report on Thursday, September 11th. HC Wainwright reduced their price target on Vertex Pharmaceuticals from $550.00 to $478.00 and set a “buy” rating for the company in a report on Tuesday, August 5th. Raymond James Financial assumed coverage on Vertex Pharmaceuticals in a research note on Tuesday, September 2nd. They issued a “market perform” rating for the company. Canaccord Genuity Group cut their price objective on shares of Vertex Pharmaceuticals from $424.00 to $411.00 and set a “hold” rating on the stock in a research report on Wednesday, August 6th. Finally, Scotiabank assumed coverage on shares of Vertex Pharmaceuticals in a research note on Thursday, November 13th. They issued a “sector outperform” rating and a $495.00 target price for the company. Two research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and eleven have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $491.95.

Vertex Pharmaceuticals 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.