Broadleaf Partners LLC Sells 10,927 Shares of Vertex Pharmaceuticals Incorporated $VRTX

Key Points

• Broadleaf Partners LLC significantly reduced its holdings in Vertex Pharmaceuticals by 64.6%, selling 10,927 shares and now owning 5,996 shares valued at approximately $2.9 million.
• Equity analysts have lowered their target prices for Vertex Pharmaceuticals, with Canaccord Genuity reducing its target from $424 to $411, while UBS Group set a target of $553 and maintains a "buy" rating.
• Insider activity includes Director Bruce I. Sachs purchasing 5,000 shares at around $389.68 each, increasing his stake in the company by 12.50%.

Broadleaf Partners LLC lowered its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 64.6% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 5,996 shares of the pharmaceutical company's stock after selling 10,927 shares during the period. Broadleaf Partners LLC's holdings in Vertex Pharmaceuticals were worth $2,907,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Aries Wealth Management bought a new position in Vertex Pharmaceuticals during the first quarter worth $293,000. Polar Asset Management Partners Inc. bought a new position in Vertex Pharmaceuticals during the fourth quarter worth $22,954,000. Brighton Jones LLC raised its stake in Vertex Pharmaceuticals by 45.0% during the first 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 raised its stake in Vertex Pharmaceuticals by 25.1% during the first 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. bought a new position in Vertex Pharmaceuticals during the first quarter worth $486,000. Institutional investors own 90.96% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on VRTX shares. 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. HC Wainwright lowered their target price on shares of Vertex Pharmaceuticals from $550.00 to $478.00 and set a "buy" rating for the company in a research note on Tuesday, August 5th. Cantor Fitzgerald lowered their target price on shares of Vertex Pharmaceuticals from $535.00 to $485.00 and set an "overweight" rating for the company in a research note on Tuesday, August 5th. UBS Group set a $553.00 target price on shares of Vertex Pharmaceuticals and gave the stock a "buy" rating in a research note on Tuesday, August 5th. Finally, Wolfe Research downgraded shares of Vertex Pharmaceuticals from an "outperform" rating to a "peer perform" rating in a research note on Wednesday, May 7th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and thirteen have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $497.10.

Insider Activity

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

Vertex Pharmaceuticals Trading Down 0.6%

NASDAQ:VRTX opened at $395.12 on Friday. The stock has a market capitalization of $101.30 billion, a price-to-earnings ratio of 28.24 and a beta of 0.44. The firm has a fifty day simple moving average of $438.99 and a two-hundred day simple moving average of $461.34. Vertex Pharmaceuticals Incorporated has a 12 month low of $362.50 and a 12 month high of $519.88.

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. The business had revenue of $2.94 billion during the quarter, compared to analysts' expectations of $2.90 billion. Vertex Pharmaceuticals had a net margin of 31.86% and a return on equity of 23.91%. The business's quarterly revenue was up 11.3% on a year-over-year basis. During the same period last year, the company posted ($12.83) earnings per share. Vertex Pharmaceuticals has set its FY 2025 guidance at EPS. Equities analysts predict that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current fiscal year.

About Vertex Pharmaceuticals

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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