Gabelli Funds LLC Sells 1,324 Shares of Vertex Pharmaceuticals Incorporated $VRTX

Key Points

• Gabelli Funds LLC reduced its holdings in Vertex Pharmaceuticals by 7.5% during the first quarter, now owning 16,350 shares worth approximately $7.93 million.
• Institutional investors collectively own 90.96% of Vertex Pharmaceuticals stock, with several firms recently increasing their positions or acquiring new stakes.
• Vertex Pharmaceuticals reported earnings of $4.52 per share, exceeding expectations and showing an 11.3% increase in revenue compared to the previous year.

Gabelli Funds LLC trimmed its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 7.5% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 16,350 shares of the pharmaceutical company's stock after selling 1,324 shares during the period. Gabelli Funds LLC's holdings in Vertex Pharmaceuticals were worth $7,927,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Thematics Asset Management raised its position in shares of Vertex Pharmaceuticals by 5,032.9% during the first quarter. Thematics Asset Management now owns 7,956 shares of the pharmaceutical company's stock worth $3,857,000 after purchasing an additional 7,801 shares during the period. Comerica Bank raised its position in shares of Vertex Pharmaceuticals by 32.0% during the first quarter. Comerica Bank now owns 65,421 shares of the pharmaceutical company's stock worth $31,717,000 after purchasing an additional 15,843 shares during the period. ICONIQ Capital LLC raised its position in shares of Vertex Pharmaceuticals by 116.0% during the first quarter. ICONIQ Capital LLC now owns 1,240 shares of the pharmaceutical company's stock worth $601,000 after purchasing an additional 666 shares during the period. Quantitative Investment Management LLC acquired a new position in shares of Vertex Pharmaceuticals during the first quarter worth approximately $7,270,000. Finally, Smartleaf Asset Management LLC raised its position in shares of Vertex Pharmaceuticals by 9.4% during the first quarter. Smartleaf Asset Management LLC now owns 2,848 shares of the pharmaceutical company's stock worth $1,403,000 after purchasing an additional 244 shares during the period. 90.96% of the stock is currently owned by institutional investors.

Vertex Pharmaceuticals Stock Performance

NASDAQ:VRTX traded down $1.03 during trading on Friday, reaching $391.02. The company's stock had a trading volume of 1,309,844 shares, compared to its average volume of 2,585,422. The firm has a market cap of $100.25 billion, a price-to-earnings ratio of 27.95 and a beta of 0.44. The firm has a 50 day moving average of $433.35 and a 200-day moving average of $458.70. 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 announced 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 the consensus estimate 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 in the prior year, the company earned ($12.83) EPS. Vertex Pharmaceuticals has set its FY 2025 guidance at EPS. Equities research analysts forecast that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

VRTX has been the topic of a number of research reports. Scotiabank lowered their target price on Vertex Pharmaceuticals from $442.00 to $438.00 and set a "sector perform" rating on the stock in a research report on Tuesday, August 5th. Canaccord Genuity Group lowered their price target 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. Wells Fargo & Company raised Vertex Pharmaceuticals from an "equal weight" rating to an "overweight" rating and set a $460.00 price target for the company in a research report on Wednesday, August 6th. Wolfe Research lowered Vertex Pharmaceuticals from an "outperform" rating to a "peer perform" rating in a research report on Wednesday, May 7th. Finally, Needham & Company LLC reissued a "hold" rating on shares of Vertex Pharmaceuticals in a research report on Tuesday, May 6th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and thirteen have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Vertex Pharmaceuticals has a consensus rating of "Moderate Buy" and a consensus price target of $497.10.

Insider Buying and Selling at Vertex Pharmaceuticals

In other news, Director Bruce I. Sachs purchased 5,000 shares of the business's stock in a transaction dated 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 purchase, the director owned 45,000 shares of the company's stock, valued at $17,535,600. The trade was a 12.50% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.20% of the company's stock.

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.