EFG Asset Management North America Corp. Sells 2,923 Shares of Vertex Pharmaceuticals Incorporated $VRTX

Key Points

• EFG Asset Management North America Corp. has reduced its holdings in Vertex Pharmaceuticals by 24.2%, now owning 9,132 shares worth approximately $4.43 million.
• Several institutional investors have significantly increased their stakes in Vertex Pharmaceuticals, with GAMMA Investing LLC boosting its position by over 60,000%, resulting in ownership of 2.4 million shares valued at about $1.18 billion.
• Vertex Pharmaceuticals reported a quarterly revenue of $2.94 billion, exceeding analyst expectations, and set its FY 2025 EPS guidance while currently maintaining an average rating of "Moderate Buy" among analysts.

EFG Asset Management North America Corp. lessened its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 24.2% in the first quarter, according to its most recent filing with the SEC. The firm owned 9,132 shares of the pharmaceutical company's stock after selling 2,923 shares during the period. EFG Asset Management North America Corp.'s holdings in Vertex Pharmaceuticals were worth $4,427,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the business. Brighton Jones LLC grew its holdings in shares of 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. Algert Global LLC acquired a new position in shares of Vertex Pharmaceuticals in the 4th quarter valued at $2,890,000. Benjamin Edwards Inc. grew its holdings in shares of Vertex Pharmaceuticals by 10.7% in the 4th quarter. Benjamin Edwards Inc. now owns 7,379 shares of the pharmaceutical company's stock valued at $2,971,000 after buying an additional 711 shares during the period. Bridgefront Capital LLC acquired a new position in shares of Vertex Pharmaceuticals in the 4th quarter valued at $389,000. Finally, Cetera Investment Advisers grew its holdings in shares of Vertex Pharmaceuticals by 0.6% in the 4th quarter. Cetera Investment Advisers now owns 53,957 shares of the pharmaceutical company's stock valued at $21,729,000 after buying an additional 328 shares during the period. Institutional investors and hedge funds own 90.96% of the company's stock.

Vertex Pharmaceuticals Price Performance

NASDAQ:VRTX traded down $0.81 on Friday, hitting $396.12. 1,171,066 shares of the company's stock were exchanged, compared to its average volume of 1,677,311. The firm has a 50-day moving average price of $428.49 and a 200-day moving average price of $456.39. Vertex Pharmaceuticals Incorporated has a 52 week low of $362.50 and a 52 week high of $519.88. The company has a market cap of $101.56 billion, a P/E ratio of 28.31 and a beta of 0.44.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last issued its quarterly earnings results on Monday, August 4th. The pharmaceutical company reported $4.52 EPS for the quarter, topping the consensus estimate of $4.24 by $0.28. Vertex Pharmaceuticals had a net margin of 31.86% and a return on equity of 23.91%. The firm 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 posted ($12.83) EPS. The company's revenue for the quarter was up 11.3% on a year-over-year basis. Vertex Pharmaceuticals has set its FY 2025 guidance at EPS. On average, research analysts expect that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Vertex Pharmaceuticals news, Director Bruce I. Sachs purchased 5,000 shares of the business's stock in a transaction on Wednesday, August 6th. The shares were purchased at an average cost of $389.68 per share, with a total value of $1,948,400.00. Following the transaction, 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 position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.20% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on VRTX. Morgan Stanley set a $439.00 price target on shares of Vertex Pharmaceuticals and gave the company an "equal weight" rating in a report on Tuesday, August 5th. Guggenheim decreased their price target on shares of Vertex Pharmaceuticals from $558.00 to $546.00 and set a "buy" rating for the company in a report on Wednesday, August 6th. Erste Group Bank lowered shares of Vertex Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a report on Friday, May 23rd. Stifel Nicolaus decreased their price target on shares of Vertex Pharmaceuticals from $494.00 to $455.00 and set a "hold" rating for the company in a report on Tuesday, August 5th. Finally, Cantor Fitzgerald cut their price objective on shares of Vertex Pharmaceuticals from $535.00 to $485.00 and set an "overweight" rating on the stock in a research report on Tuesday, August 5th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and thirteen have given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price 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.