Interchange Capital Partners LLC Cuts Stock Holdings in Vertex Pharmaceuticals Incorporated $VRTX

Key Points

• Interchange Capital Partners LLC significantly reduced its stake in Vertex Pharmaceuticals, cutting its holdings by 70.4% to only 322 shares, worth approximately $143,000.
• Various other hedge funds increased their investments in Vertex, with Vanguard Group Inc. owning over 23 million shares valued at about $11.4 billion after a slight increase during the first quarter.
• Vertex Pharmaceuticals reported earnings of $4.52 EPS, exceeding expectations, with a revenue of $2.94 billion for the recent quarter, marking an 11.3% increase year-over-year.

Interchange Capital Partners LLC decreased its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 70.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 322 shares of the pharmaceutical company's stock after selling 766 shares during the period. Interchange Capital Partners LLC's holdings in Vertex Pharmaceuticals were worth $143,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in Vertex Pharmaceuticals by 1.0% during the first quarter. Vanguard Group Inc. now owns 23,491,161 shares of the pharmaceutical company's stock worth $11,388,985,000 after acquiring an additional 232,873 shares during the period. Jennison Associates LLC lifted its holdings in Vertex Pharmaceuticals by 17.2% during the first quarter. Jennison Associates LLC now owns 5,062,442 shares of the pharmaceutical company's stock worth $2,454,373,000 after acquiring an additional 744,680 shares during the period. Alliancebernstein L.P. lifted its holdings in Vertex Pharmaceuticals by 0.9% during the first quarter. Alliancebernstein L.P. now owns 3,953,512 shares of the pharmaceutical company's stock worth $1,916,742,000 after acquiring an additional 33,492 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in Vertex Pharmaceuticals by 72.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,917,227 shares of the pharmaceutical company's stock worth $1,414,331,000 after acquiring an additional 1,226,527 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Vertex Pharmaceuticals by 9.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,559,476 shares of the pharmaceutical company's stock worth $1,240,885,000 after acquiring an additional 230,257 shares during the period. Hedge funds and other institutional investors own 90.96% of the company's stock.

Vertex Pharmaceuticals Stock Performance

NASDAQ:VRTX opened at $412.22 on Wednesday. Vertex Pharmaceuticals Incorporated has a 52-week low of $362.50 and a 52-week high of $519.88. The firm has a market cap of $105.69 billion, a price-to-earnings ratio of 29.47 and a beta of 0.43. The business's fifty day moving average is $393.35 and its 200 day moving average is $437.96.

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. Vertex Pharmaceuticals had a return on equity of 23.91% and a net margin of 31.86%.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 previous year, the company posted ($12.83) EPS. The firm's revenue for the quarter was up 11.3% compared to the same quarter last year. Vertex Pharmaceuticals has set its FY 2025 guidance at EPS. Equities analysts predict that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current fiscal year.

Insider Activity

In related news, Director Bruce I. Sachs acquired 5,000 shares of the firm's stock in a transaction that occurred on Wednesday, August 6th. The shares were bought at an average cost of $389.68 per share, for a total transaction of $1,948,400.00. Following the purchase, the director owned 45,000 shares in the company, valued at $17,535,600. This trade represents a 12.50% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.20% of the company's stock.

Analyst Ratings Changes

A number of analysts recently commented on the company. Morgan Stanley dropped their price target on Vertex Pharmaceuticals from $439.00 to $438.00 and set an "equal weight" rating on the stock in a report on Friday. Evercore ISI dropped their price target on Vertex Pharmaceuticals from $510.00 to $475.00 and set an "outperform" rating on the stock in a report on Thursday, September 11th. Truist Financial set a $490.00 target price on Vertex Pharmaceuticals and gave the company a "buy" rating in a research note on Tuesday, August 5th. 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 note on Tuesday, August 5th. Finally, Cantor Fitzgerald lowered their target price on Vertex Pharmaceuticals from $535.00 to $485.00 and set an "overweight" rating on the stock in a research note on Tuesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and twelve have given a Hold rating to the company. According to MarketBeat.com, Vertex Pharmaceuticals presently has an average rating of "Moderate Buy" and an average target price of $494.38.

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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