1248 Management LLC Cuts Holdings in Vertex Pharmaceuticals Incorporated $VRTX

Key Points

• 1248 Management LLC has reduced its holdings in Vertex Pharmaceuticals by 34.2%, now owning 1,359 shares valued at approximately $659,000.
• Vertex Pharmaceuticals reported a quarterly earnings per share of $4.52, exceeding analysts' expectations, with a revenue of $2.94 billion, a year-over-year increase of 11.3%.
• Insider transactions included Director Bruce I. Sachs purchasing 5,000 shares at an average price of $389.68, raising his ownership stake in the company by 12.5%.

1248 Management LLC decreased its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 34.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,359 shares of the pharmaceutical company's stock after selling 706 shares during the quarter. 1248 Management LLC's holdings in Vertex Pharmaceuticals were worth $659,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of VRTX. Activest Wealth Management purchased a new position in shares of Vertex Pharmaceuticals in the 1st quarter valued at about $25,000. Clal Insurance Enterprises Holdings Ltd increased its holdings in shares of Vertex Pharmaceuticals by 450.0% in the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 55 shares of the pharmaceutical company's stock valued at $27,000 after acquiring an additional 45 shares during the last quarter. Mascagni Wealth Management Inc. purchased a new position in shares of Vertex Pharmaceuticals in the 4th quarter valued at about $31,000. SJS Investment Consulting Inc. increased its holdings in shares of Vertex Pharmaceuticals by 46.2% in the 1st quarter. SJS Investment Consulting Inc. now owns 95 shares of the pharmaceutical company's stock valued at $46,000 after acquiring an additional 30 shares during the last quarter. Finally, University of Texas Texas AM Investment Management Co. purchased a new position in shares of Vertex Pharmaceuticals in the 1st quarter valued at about $46,000. Hedge funds and other institutional investors own 90.96% of the company's stock.

Insiders Place Their Bets

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

Vertex Pharmaceuticals Stock Performance

VRTX stock opened at $391.02 on Monday. Vertex Pharmaceuticals Incorporated has a 1 year low of $362.50 and a 1 year high of $519.88. The stock has a 50-day simple moving average of $433.35 and a 200-day simple moving average of $458.67. The firm has a market cap of $100.25 billion, a P/E ratio of 27.95 and a beta of 0.44.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last issued its quarterly earnings data on Monday, August 4th. The pharmaceutical company reported $4.52 earnings per share for the quarter, beating analysts' consensus estimates of $4.24 by $0.28. Vertex Pharmaceuticals had a return on equity of 23.91% and a net margin of 31.86%.The firm had revenue of $2.94 billion during the quarter, compared to analyst estimates of $2.90 billion. During the same quarter last year, the firm earned ($12.83) EPS. Vertex Pharmaceuticals's quarterly revenue was up 11.3% on a year-over-year basis. Vertex Pharmaceuticals has set its FY 2025 guidance at EPS. On average, equities research analysts predict that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on VRTX shares. William Blair reiterated an "outperform" rating on shares of Vertex Pharmaceuticals in a report on Tuesday, May 6th. Wolfe Research cut Vertex Pharmaceuticals from an "outperform" rating to a "peer perform" rating in a research report on Wednesday, May 7th. Canaccord Genuity Group reduced their price target on Vertex Pharmaceuticals from $424.00 to $411.00 and set a "hold" rating for the company in a report on Wednesday, August 6th. Royal Bank Of Canada reduced their price target on Vertex Pharmaceuticals from $430.00 to $405.00 and set a "sector perform" rating for the company in a report on Tuesday, August 5th. Finally, Erste Group Bank cut shares of Vertex Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research note on Friday, May 23rd. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and thirteen have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $497.10.

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.

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