Atalanta Sosnoff Capital LLC Sells 1,507 Shares of Vertex Pharmaceuticals Incorporated $VRTX

Key Points

• Atalanta Sosnoff Capital LLC reduced its stake in Vertex Pharmaceuticals by 3.3%, selling 1,507 shares and bringing its total holdings to 43,695 shares valued at approximately $21.2 million.
• Insider transactions included Director Bruce I. Sachs purchasing 5,000 shares at an average price of $389.68 per share, increasing his stake by 12.50%.
• Vertex Pharmaceuticals reported a quarterly earnings per share of $4.52, exceeding estimates by $0.28, with revenue reaching $2.94 billion for the quarter.

Atalanta Sosnoff Capital LLC trimmed its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 3.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 43,695 shares of the pharmaceutical company's stock after selling 1,507 shares during the period. Atalanta Sosnoff Capital LLC's holdings in Vertex Pharmaceuticals were worth $21,184,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Aries Wealth Management purchased a new stake in Vertex Pharmaceuticals during the 1st quarter valued at $293,000. Polar Asset Management Partners Inc. purchased a new position in shares of Vertex Pharmaceuticals in the 4th quarter worth $22,954,000. Brighton Jones LLC boosted its stake in shares of Vertex Pharmaceuticals by 45.0% in the 1st quarter. Brighton Jones LLC now owns 6,421 shares of the pharmaceutical company's stock worth $3,113,000 after buying an additional 1,994 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of Vertex Pharmaceuticals by 25.1% in the 1st quarter. GAMMA Investing LLC now owns 5,002 shares of the pharmaceutical company's stock worth $2,425,000 after buying an additional 1,005 shares during the last quarter. Finally, Stanley Laman Group Ltd. purchased a new position in shares of Vertex Pharmaceuticals in the 1st quarter worth $486,000. 90.96% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Vertex Pharmaceuticals news, Director Bruce I. Sachs purchased 5,000 shares of the stock in a transaction that occurred on Wednesday, August 6th. The shares were bought at an average cost of $389.68 per share, with a total value of $1,948,400.00. Following the acquisition, the director owned 45,000 shares in the company, valued at approximately $17,535,600. This trade represents a 12.50% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.20% of the company's stock.

Vertex Pharmaceuticals Stock Down 0.2%

NASDAQ VRTX traded down $0.81 during trading hours on Friday, reaching $396.12. The company's stock had a trading volume of 1,171,066 shares, compared to its average volume of 1,677,311. The firm's 50-day moving average price is $428.49 and its 200-day moving average price is $456.39. Vertex Pharmaceuticals Incorporated has a 1 year low of $362.50 and a 1 year high of $519.88. The company has a market capitalization of $101.56 billion, a price-to-earnings ratio of 28.31 and a beta of 0.44.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last posted 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 return on equity of 23.91% and a net margin of 31.86%.The company had revenue of $2.94 billion for the quarter, compared to analysts' expectations of $2.90 billion. During the same period in the previous year, the firm earned ($12.83) EPS. The firm's 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 anticipate that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on VRTX shares. Wells Fargo & Company upgraded Vertex Pharmaceuticals from an "equal weight" rating to an "overweight" rating and set a $460.00 price target on the stock in a research note on Wednesday, August 6th. Truist Financial set a $490.00 target price on Vertex Pharmaceuticals and gave the stock a "buy" rating in a report on Tuesday, August 5th. Stifel Nicolaus decreased their target price on Vertex Pharmaceuticals from $494.00 to $455.00 and set a "hold" rating on the stock in a report on Tuesday, August 5th. Erste Group Bank cut Vertex Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a report on Friday, May 23rd. Finally, BMO Capital Markets set a $530.00 target price on Vertex Pharmaceuticals and gave the stock an "outperform" rating in a report on Tuesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and thirteen have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus 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.