Global Assets Advisory LLC Sells 1,124 Shares of Vertex Pharmaceuticals Incorporated $VRTX

Key Points

• Global Assets Advisory LLC sold 1,124 shares of Vertex Pharmaceuticals, reducing its holdings by 43.1%, leaving them with 1,484 shares valued at $671,000.
• Vertex Pharmaceuticals reported a quarterly EPS of $4.52, exceeding analysts' expectations, with revenue up 11.3% year-over-year at $2.94 billion.
• The company's stock has experienced a 1.4% decline, with current trading at $403.30 and a market cap of approximately $103.40 billion.

Global Assets Advisory LLC trimmed its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 43.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,484 shares of the pharmaceutical company's stock after selling 1,124 shares during the period. Global Assets Advisory LLC's holdings in Vertex Pharmaceuticals were worth $671,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. United Services Automobile Association purchased a new stake in shares of Vertex Pharmaceuticals during the 1st quarter valued at $2,933,000. Lee Johnson Capital Management LLC bought a new stake in shares of Vertex Pharmaceuticals in the 2nd quarter worth approximately $721,000. Aries Wealth Management purchased a new stake in shares of Vertex Pharmaceuticals in the 1st quarter valued at $293,000. Moody Lynn & Lieberson LLC grew its holdings in shares of Vertex Pharmaceuticals by 1.4% during the 2nd quarter. Moody Lynn & Lieberson LLC now owns 58,077 shares of the pharmaceutical company's stock valued at $25,856,000 after purchasing an additional 822 shares during the last quarter. Finally, New England Research & Management Inc. purchased a new position in Vertex Pharmaceuticals in the 2nd quarter worth $472,000. 90.96% of the stock is owned by institutional investors.

Vertex Pharmaceuticals Trading Down 1.4%

NASDAQ VRTX opened at $403.30 on Monday. The stock has a fifty day simple moving average of $399.12 and a 200-day simple moving average of $442.02. The stock has a market cap of $103.40 billion, a PE ratio of 28.83 and a beta of 0.43. Vertex Pharmaceuticals Incorporated has a twelve month low of $362.50 and a twelve month high of $519.88.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last released its earnings results on Monday, August 4th. The pharmaceutical company reported $4.52 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.24 by $0.28. Vertex Pharmaceuticals had a net margin of 31.86% and a return on equity of 23.91%. The company had revenue of $2.94 billion for the quarter, compared to analyst estimates of $2.90 billion. During the same period in the prior year, the business earned ($12.83) EPS. The firm's quarterly revenue was up 11.3% on a year-over-year basis. Vertex Pharmaceuticals has set its FY 2025 guidance at EPS. Research analysts predict that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current year.

Analyst Ratings Changes

VRTX has been the subject of a number of recent analyst reports. Royal Bank Of Canada decreased their target price on Vertex Pharmaceuticals from $430.00 to $405.00 and set a "sector perform" rating for the company in a report on Tuesday, August 5th. Scotiabank decreased their target price on shares of Vertex Pharmaceuticals from $442.00 to $438.00 and set a "sector perform" rating for the company in a report on Tuesday, August 5th. Morgan Stanley set a $439.00 target price on shares of Vertex Pharmaceuticals and gave the company an "equal weight" rating in a research note on Tuesday, August 5th. Raymond James Financial began coverage on shares of Vertex Pharmaceuticals in a research report on Tuesday, September 2nd. They issued a "market perform" rating for the company. Finally, Leerink Partnrs upgraded shares of Vertex Pharmaceuticals from a "hold" rating to a "strong-buy" rating in a research report on Thursday, September 25th. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and twelve have given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $493.81.

Insider Transactions at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, Director Bruce I. Sachs purchased 5,000 shares of the firm's stock in a transaction that occurred on Wednesday, August 6th. The stock was purchased at an average price of $389.68 per share, for a total transaction of $1,948,400.00. Following the purchase, the director directly owned 45,000 shares in the company, valued at approximately $17,535,600. This trade represents 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. 0.20% of the stock is owned by corporate insiders.

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.

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