EP Wealth Advisors LLC Has $2.64 Million Holdings in Vertex Pharmaceuticals Incorporated $VRTX

Key Points

• EP Wealth Advisors LLC reduced its stake in Vertex Pharmaceuticals by 15.4%, ending the quarter with holdings valued at $2.64 million after selling 989 shares.
• Vertex Pharmaceuticals reported quarterly earnings of $4.52 EPS, surpassing the consensus estimate, and revenue of $2.94 billion, reflecting an 11.3% increase year-over-year.
• The stock is currently rated as a "Moderate Buy" with a consensus price target of $497.10 and analyst ratings ranging from strong buy to hold.

EP Wealth Advisors LLC trimmed its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 15.4% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 5,449 shares of the pharmaceutical company's stock after selling 989 shares during the quarter. EP Wealth Advisors LLC's holdings in Vertex Pharmaceuticals were worth $2,642,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of VRTX. Activest Wealth Management acquired a new position in shares of Vertex Pharmaceuticals in the 1st quarter worth $25,000. Clal Insurance Enterprises Holdings Ltd grew its holdings in shares of Vertex Pharmaceuticals by 450.0% in the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 55 shares of the pharmaceutical company's stock worth $27,000 after acquiring an additional 45 shares during the last quarter. Mascagni Wealth Management Inc. acquired a new position in shares of Vertex Pharmaceuticals in the 4th quarter worth $31,000. Mpwm Advisory Solutions LLC acquired a new position in shares of Vertex Pharmaceuticals in the 4th quarter worth $40,000. Finally, Minot DeBlois Advisors LLC acquired a new position in shares of Vertex Pharmaceuticals in the 4th quarter worth $44,000. 90.96% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Vertex Pharmaceuticals

In related news, Director Bruce I. Sachs purchased 5,000 shares of Vertex Pharmaceuticals stock in a transaction on Wednesday, August 6th. The stock was 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 directly owned 45,000 shares of the company's stock, valued at approximately $17,535,600. This represents a 12.50% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.20% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on VRTX shares. Wells Fargo & Company raised Vertex Pharmaceuticals from an "equal weight" rating to an "overweight" rating and set a $460.00 target price for the company in a research report on Wednesday, August 6th. Canaccord Genuity Group decreased their target price on Vertex Pharmaceuticals from $424.00 to $411.00 and set a "hold" rating for the company in a research report on Wednesday, August 6th. JPMorgan Chase & Co. raised their target price on Vertex Pharmaceuticals from $515.00 to $517.00 and gave the stock an "overweight" rating in a research report on Monday, July 14th. Wall Street Zen cut Vertex Pharmaceuticals from a "strong-buy" rating to a "buy" rating in a research report on Friday, August 22nd. Finally, BMO Capital Markets set a $530.00 target price on Vertex Pharmaceuticals and gave the stock an "outperform" rating in a research report on Tuesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and thirteen have given a Hold rating to the company's stock. According to MarketBeat, Vertex Pharmaceuticals presently has a consensus rating of "Moderate Buy" and a consensus target price of $497.10.

Vertex Pharmaceuticals Price Performance

VRTX traded down $0.81 during trading on Friday, reaching $396.12. 1,171,066 shares of the stock traded hands, compared to its average volume of 1,677,311. The stock has a market cap of $101.56 billion, a price-to-earnings ratio of 28.31 and a beta of 0.44. Vertex Pharmaceuticals Incorporated has a fifty-two week low of $362.50 and a fifty-two week high of $519.88. The stock's 50-day simple moving average is $428.49 and its two-hundred day simple moving average is $456.39.

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

Vertex Pharmaceuticals Company 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.