Dakota Wealth Management Sells 7,137 Shares of Vertex Pharmaceuticals Incorporated $VRTX

Key Points

• Dakota Wealth Management has decreased its stake in Vertex Pharmaceuticals by 70.3%, selling 7,137 shares during the second quarter and now holding 3,010 shares valued at approximately $1.34 million.
• Vertex Pharmaceuticals reported $4.52 earnings per share (EPS) for the last quarter, surpassing analysts' expectations and showing an 11.3% year-over-year revenue growth.
• Research analysts have mixed ratings on Vertex Pharmaceuticals, with consensus showing a "Moderate Buy" and an average target price of $493.81.

Dakota Wealth Management reduced its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 70.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,010 shares of the pharmaceutical company's stock after selling 7,137 shares during the quarter. Dakota Wealth Management's holdings in Vertex Pharmaceuticals were worth $1,340,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Activest Wealth Management bought a new position in shares of Vertex Pharmaceuticals during the first quarter valued at approximately $25,000. Clal Insurance Enterprises Holdings Ltd grew 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 buying an additional 45 shares during the last quarter. Mascagni Wealth Management Inc. bought a new position in shares of Vertex Pharmaceuticals during the fourth quarter valued at approximately $31,000. Flaharty Asset Management LLC bought a new position in shares of Vertex Pharmaceuticals during the first quarter valued at approximately $32,000. Finally, SJS Investment Consulting Inc. grew its stake in shares of Vertex Pharmaceuticals by 46.2% during the first quarter. SJS Investment Consulting Inc. now owns 95 shares of the pharmaceutical company's stock valued at $46,000 after buying an additional 30 shares during the last quarter. 90.96% of the stock is owned by institutional investors.

Vertex Pharmaceuticals Stock Performance

Shares of NASDAQ VRTX opened at $385.73 on Friday. The firm has a market capitalization of $98.90 billion, a price-to-earnings ratio of 27.57 and a beta of 0.44. The stock has a 50 day moving average price of $406.00 and a 200 day moving average price of $446.60. 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 announced 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. The firm had revenue of $2.94 billion during the quarter, compared to analyst estimates of $2.90 billion. Vertex Pharmaceuticals had a return on equity of 23.91% and a net margin of 31.86%.Vertex Pharmaceuticals's quarterly revenue was up 11.3% on a year-over-year basis. During the same quarter in the previous year, the business earned ($12.83) earnings per share. Vertex Pharmaceuticals has set its FY 2025 guidance at EPS. Analysts forecast that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on VRTX shares. Leerink Partners raised Vertex Pharmaceuticals from a "market perform" rating to an "outperform" rating and cut their target price for the company from $458.00 to $456.00 in a research note on Thursday. Guggenheim cut their target price on Vertex Pharmaceuticals from $558.00 to $546.00 and set a "buy" rating on the stock in a research note on Wednesday, August 6th. Morgan Stanley set a $439.00 target price on Vertex Pharmaceuticals and gave the company an "equal weight" rating in a research note on Tuesday, August 5th. Canaccord Genuity Group cut their target price on Vertex Pharmaceuticals from $424.00 to $411.00 and set a "hold" rating on the stock in a research note on Wednesday, August 6th. Finally, JPMorgan Chase & Co. boosted their price target on Vertex Pharmaceuticals from $515.00 to $517.00 and gave the company an "overweight" rating in a report on Monday, July 14th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and eleven have issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $493.81.

Insiders Place Their Bets

In related news, Director Bruce I. Sachs bought 5,000 shares of the stock in a transaction on Wednesday, August 6th. The stock was bought at an average price 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 in the company, valued at approximately $17,535,600. This represents a 12.50% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.20% of the stock is currently owned by corporate insiders.

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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