Cullinan Associates Inc. Sells 1,100 Shares of Vertex Pharmaceuticals Incorporated $VRTX

Key Points

• Cullinan Associates Inc. has reduced its stake in Vertex Pharmaceuticals by 2.1% after selling 1,100 shares during the second quarter, resulting in a total of 52,012 shares valued at approximately $23.2 million.
• Insider activity includes Director Bruce I. Sachs purchasing 5,000 shares at an average price of $389.68, increasing his holdings to 45,000 shares valued at about $17.5 million.
• Vertex Pharmaceuticals reported earnings per share of $4.52 in its last quarterly earnings, beating analysts’ estimates and revealing a revenue increase of 11.3% year-over-year.

Cullinan Associates Inc. trimmed its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 2.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 52,012 shares of the pharmaceutical company's stock after selling 1,100 shares during the period. Vertex Pharmaceuticals comprises about 1.5% of Cullinan Associates Inc.'s investment portfolio, making the stock its 16th largest position. Cullinan Associates Inc.'s holdings in Vertex Pharmaceuticals were worth $23,156,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Activest Wealth Management bought a new position in shares of Vertex Pharmaceuticals in the first quarter valued at about $25,000. Clal Insurance Enterprises Holdings Ltd lifted its stake in shares of Vertex Pharmaceuticals by 450.0% during the first 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 period. Flaharty Asset Management LLC bought a new position in Vertex Pharmaceuticals in the first quarter valued at about $32,000. American National Bank & Trust increased its position in Vertex Pharmaceuticals by 515.4% in the second quarter. American National Bank & Trust now owns 80 shares of the pharmaceutical company's stock worth $36,000 after purchasing an additional 67 shares during the period. Finally, SJS Investment Consulting Inc. increased its position in Vertex Pharmaceuticals by 46.2% in the first quarter. SJS Investment Consulting Inc. now owns 95 shares of the pharmaceutical company's stock worth $46,000 after purchasing an additional 30 shares during the period. Institutional investors own 90.96% of the company's stock.

Insider Buying and Selling

In other news, Director Bruce I. Sachs bought 5,000 shares of the firm's stock in a transaction dated Wednesday, August 6th. The shares were bought at an average price of $389.68 per share, with a total value of $1,948,400.00. Following the completion of the transaction, 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 ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.20% of the company's stock.

Analysts Set New Price Targets

VRTX has been the topic of a number of research reports. Morgan Stanley set a $439.00 target price on shares of Vertex Pharmaceuticals and gave the company an "equal weight" rating in a research report on Tuesday, August 5th. Truist Financial set a $490.00 price objective on shares of Vertex Pharmaceuticals and gave the company a "buy" rating in a report on Tuesday, August 5th. Raymond James Financial began coverage on shares of Vertex Pharmaceuticals in a report on Tuesday, September 2nd. They set a "market perform" rating for the company. Wall Street Zen cut shares of Vertex Pharmaceuticals from a "strong-buy" rating to a "buy" rating in a research report on Friday, August 22nd. Finally, Evercore ISI cut their price target on Vertex Pharmaceuticals from $510.00 to $475.00 and set an "outperform" rating on the stock in a research note on Thursday, September 11th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and twelve have assigned a Hold rating to the company. According to data from MarketBeat.com, Vertex Pharmaceuticals has an average rating of "Moderate Buy" and a consensus target price of $493.81.

Vertex Pharmaceuticals Stock Performance

Vertex Pharmaceuticals stock opened at $403.30 on Monday. The stock has a 50-day simple moving average of $399.12 and a 200 day simple moving average of $442.02. The stock has a market capitalization of $103.40 billion, a P/E ratio of 28.83 and a beta of 0.43. Vertex Pharmaceuticals Incorporated has a 52 week low of $362.50 and a 52 week high of $519.88.

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