Hobbs Group Advisors LLC Sells 599 Shares of Vertex Pharmaceuticals Incorporated $VRTX

Hobbs Group Advisors LLC decreased its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 18.7% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 2,608 shares of the pharmaceutical company’s stock after selling 599 shares during the period. Hobbs Group Advisors LLC’s holdings in Vertex Pharmaceuticals were worth $1,161,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of VRTX. Activest Wealth Management bought a new stake in shares of Vertex Pharmaceuticals in the first quarter valued at approximately $25,000. Clal Insurance Enterprises Holdings Ltd raised its position in shares of Vertex Pharmaceuticals by 450.0% in the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 55 shares of the pharmaceutical company’s stock valued at $27,000 after purchasing an additional 45 shares during the period. Flaharty Asset Management LLC bought a new stake in shares of Vertex Pharmaceuticals in the first quarter valued at approximately $32,000. American National Bank & Trust raised its position in shares of Vertex Pharmaceuticals by 515.4% in the second quarter. American National Bank & Trust now owns 80 shares of the pharmaceutical company’s stock valued at $36,000 after purchasing an additional 67 shares during the period. Finally, University of Texas Texas AM Investment Management Co. bought a new stake in shares of Vertex Pharmaceuticals in the first quarter valued at approximately $46,000. Institutional investors own 90.96% of the company’s stock.

Vertex Pharmaceuticals Price Performance

VRTX stock opened at $407.79 on Friday. Vertex Pharmaceuticals Incorporated has a one year low of $362.50 and a one year high of $519.88. The stock has a market cap of $104.55 billion, a PE ratio of 29.15 and a beta of 0.43. The firm has a 50 day simple moving average of $393.91 and a two-hundred day simple moving average of $439.18.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its quarterly earnings results on Monday, August 4th. The pharmaceutical company reported $4.52 EPS for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $2.90 billion. During the same quarter 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. On average, research analysts expect that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Bruce I. Sachs purchased 5,000 shares of the business’s stock in a transaction on Wednesday, August 6th. The stock was 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 approximately $17,535,600. This represents a 12.50% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.20% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Leerink Partners raised shares of Vertex Pharmaceuticals from a “market perform” rating to an “outperform” rating and lowered their price target for the company from $458.00 to $456.00 in a research report on Thursday, September 25th. Cantor Fitzgerald lowered their price target on shares of Vertex Pharmaceuticals from $535.00 to $485.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 5th. Leerink Partnrs raised shares of Vertex Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a report on Thursday, September 25th. Citigroup upped their target price on shares of Vertex Pharmaceuticals from $550.00 to $575.00 and gave the stock a “buy” rating in a report on Thursday, October 2nd. Finally, Stifel Nicolaus decreased their target price on shares of Vertex Pharmaceuticals from $494.00 to $455.00 and set a “hold” rating on the stock in a 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 assigned a Hold rating to the company. According to data from MarketBeat, Vertex Pharmaceuticals has a consensus rating of “Moderate Buy” and an average price target of $494.38.

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.