Beacon Investment Advisory Services Inc. Reduces Position in Vertex Pharmaceuticals Incorporated $VRTX

Key Points

• Beacon Investment Advisory Services Inc. reduced its position in Vertex Pharmaceuticals by 1.1%, now holding 77,031 shares valued at approximately $34.29 million.
• Analysts have set new price targets for Vertex Pharmaceuticals, with estimates ranging from $475.00 to $530.00 and a consensus rating of "Moderate Buy."
• Vertex Pharmaceuticals reported a quarterly earnings per share (EPS) of $4.52, exceeding analysts' expectations and indicating a significant year-over-year revenue increase of 11.3%.

Beacon Investment Advisory Services Inc. cut its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 1.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 77,031 shares of the pharmaceutical company's stock after selling 870 shares during the period. Vertex Pharmaceuticals makes up 1.5% of Beacon Investment Advisory Services Inc.'s portfolio, making the stock its 18th largest holding. Beacon Investment Advisory Services Inc.'s holdings in Vertex Pharmaceuticals were worth $34,294,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Brighton Jones LLC boosted its position in Vertex Pharmaceuticals by 15.0% in the 4th quarter. Brighton Jones LLC now owns 4,427 shares of the pharmaceutical company's stock valued at $1,783,000 after buying an additional 579 shares during the period. Park Square Financial Group LLC purchased a new stake in Vertex Pharmaceuticals in the 4th quarter valued at about $172,000. BridgePort Financial Solutions LLC purchased a new stake in Vertex Pharmaceuticals in the 4th quarter valued at about $320,000. IronOak Wealth LLC. purchased a new stake in Vertex Pharmaceuticals in the 4th quarter valued at about $623,000. Finally, Lighthouse Financial LLC purchased a new stake in Vertex Pharmaceuticals in the 4th quarter valued at about $1,492,000. 90.96% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

VRTX has been the subject of several research reports. Evercore ISI lowered their price objective on shares of Vertex Pharmaceuticals from $510.00 to $475.00 and set an "outperform" rating for the company in a research report on Thursday, September 11th. Raymond James Financial assumed coverage on shares of Vertex Pharmaceuticals in a research report on Tuesday, September 2nd. They issued a "market perform" rating for the company. BMO Capital Markets set a $530.00 price target on shares of Vertex Pharmaceuticals and gave the stock an "outperform" rating in a research report on Tuesday, August 5th. Guggenheim lowered their price target on shares of Vertex Pharmaceuticals from $558.00 to $546.00 and set a "buy" rating for the company in a research report on Wednesday, August 6th. Finally, Cantor Fitzgerald lowered their price target on shares of Vertex Pharmaceuticals from $535.00 to $485.00 and set an "overweight" rating for the company in a research report on Tuesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and thirteen have given a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $496.05.

Vertex Pharmaceuticals Trading Down 0.8%

Shares of Vertex Pharmaceuticals stock opened at $376.62 on Thursday. Vertex Pharmaceuticals Incorporated has a 12-month low of $362.50 and a 12-month high of $519.88. The firm has a market capitalization of $96.56 billion, a price-to-earnings ratio of 26.92 and a beta of 0.44. The firm's 50 day simple moving average is $409.11 and its two-hundred day simple moving average is $448.13.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last issued its quarterly earnings results on Monday, August 4th. The pharmaceutical company reported $4.52 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analyst estimates of $2.90 billion. During the same quarter in the prior year, the business posted ($12.83) EPS. Vertex Pharmaceuticals's revenue for the quarter was up 11.3% compared to the same quarter last year. Vertex Pharmaceuticals has set its FY 2025 guidance at EPS. On average, sell-side analysts predict that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current fiscal year.

Insider Transactions at Vertex Pharmaceuticals

In related news, Director Bruce I. Sachs purchased 5,000 shares of the business's stock in a transaction on Wednesday, August 6th. The shares were acquired at an average price of $389.68 per share, for a total transaction of $1,948,400.00. Following the purchase, the director owned 45,000 shares of the company's stock, valued at $17,535,600. This trade represents a 12.50% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.20% of the company's stock.

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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