Vertex Pharmaceuticals Incorporated $VRTX Shares Sold by 1858 Wealth Management LLC

1858 Wealth Management LLC trimmed its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 13.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,463 shares of the pharmaceutical company’s stock after selling 375 shares during the period. 1858 Wealth Management LLC’s holdings in Vertex Pharmaceuticals were worth $1,097,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the stock. Advisor OS LLC raised its position in shares of Vertex Pharmaceuticals by 4.4% during the 1st quarter. Advisor OS LLC now owns 543 shares of the pharmaceutical company’s stock worth $263,000 after purchasing an additional 23 shares during the last quarter. Costello Asset Management INC raised its position in shares of Vertex Pharmaceuticals by 3.6% during the 2nd quarter. Costello Asset Management INC now owns 689 shares of the pharmaceutical company’s stock worth $307,000 after purchasing an additional 24 shares during the last quarter. Avidian Wealth Enterprises LLC raised its position in shares of Vertex Pharmaceuticals by 2.1% during the 1st 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 position in shares of Vertex Pharmaceuticals by 1.7% during the 1st 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. raised its position in shares of Vertex Pharmaceuticals by 3.3% during the 2nd quarter. Newman Dignan & Sheerar Inc. now owns 786 shares of the pharmaceutical company’s stock worth $350,000 after purchasing an additional 25 shares during the last quarter. 90.96% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Bruce I. Sachs acquired 5,000 shares of the stock in a transaction dated Wednesday, August 6th. The stock was bought at an average cost of $389.68 per share, with a total value of $1,948,400.00. Following the purchase, the director directly owned 45,000 shares of the company’s stock, valued at approximately $17,535,600. This represents a 12.50% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.20% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on VRTX shares. Citigroup lifted their price objective on Vertex Pharmaceuticals from $550.00 to $575.00 and gave the stock a “buy” rating in a research report on Thursday, October 2nd. BMO Capital Markets set a $530.00 price objective on Vertex Pharmaceuticals and gave the stock an “outperform” rating in a research report on Tuesday, August 5th. Truist Financial set a $490.00 target price on shares of Vertex Pharmaceuticals and gave the stock a “buy” rating in a research note on Tuesday, August 5th. Leerink Partners raised shares of Vertex Pharmaceuticals from a “market perform” rating to an “outperform” rating and lowered their target price for the stock from $458.00 to $456.00 in a research note on Thursday, September 25th. Finally, Canaccord Genuity Group lowered their target price on shares of Vertex Pharmaceuticals from $424.00 to $411.00 and set a “hold” rating for the company in a research note on Wednesday, August 6th. One equities research 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 stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $494.38.

Vertex Pharmaceuticals Stock Down 1.7%

Shares of NASDAQ VRTX opened at $407.79 on Friday. Vertex Pharmaceuticals Incorporated has a 52-week low of $362.50 and a 52-week high of $519.88. The firm has a fifty day moving average of $393.91 and a 200-day moving average of $439.18. The stock has a market capitalization of $104.55 billion, a PE ratio of 29.15 and a beta of 0.43.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings data 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. Vertex Pharmaceuticals had a net margin of 31.86% and a return on equity of 23.91%. The company had revenue of $2.94 billion during the quarter, compared to analysts’ expectations of $2.90 billion. During the same period in the previous year, the company earned ($12.83) EPS. The business’s quarterly revenue was up 11.3% compared to the same quarter last year. Vertex Pharmaceuticals has set its FY 2025 guidance at EPS. Equities research analysts expect that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current fiscal year.

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.