Optas LLC Lowers Stock Position in Vertex Pharmaceuticals Incorporated $VRTX

Key Points

• Optas LLC reduced its stake in Vertex Pharmaceuticals by 49.1%, selling 875 shares in the second quarter and holding 907 shares valued at $404,000.
• CEO Bruce I. Sachs purchased 5,000 shares of Vertex for approximately $1.95 million, increasing his ownership by 12.50%.
• Vertex Pharmaceuticals reported $4.52 EPS for the last quarter, exceeding expectations, with revenue growth of 11.3% year-over-year.

Optas LLC lessened its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 49.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 907 shares of the pharmaceutical company's stock after selling 875 shares during the quarter. Optas LLC's holdings in Vertex Pharmaceuticals were worth $404,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the stock. Brighton Jones LLC boosted its stake in shares of Vertex Pharmaceuticals by 15.0% in the fourth quarter. Brighton Jones LLC now owns 4,427 shares of the pharmaceutical company's stock valued at $1,783,000 after purchasing an additional 579 shares during the period. Daymark Wealth Partners LLC purchased a new position in shares of Vertex Pharmaceuticals in the first quarter valued at approximately $226,000. Farther Finance Advisors LLC boosted its stake in shares of Vertex Pharmaceuticals by 19.2% in the first quarter. Farther Finance Advisors LLC now owns 2,871 shares of the pharmaceutical company's stock valued at $1,392,000 after purchasing an additional 462 shares during the period. GAMMA Investing LLC boosted its stake in shares of Vertex Pharmaceuticals by 25.1% in the first quarter. GAMMA Investing LLC now owns 5,002 shares of the pharmaceutical company's stock valued at $2,425,000 after purchasing an additional 1,005 shares during the period. Finally, Simplicity Wealth LLC boosted its stake in shares of Vertex Pharmaceuticals by 80.9% in the first quarter. Simplicity Wealth LLC now owns 1,299 shares of the pharmaceutical company's stock valued at $630,000 after purchasing an additional 581 shares during the period. Hedge funds and other institutional investors own 90.96% of the company's stock.

Insider Buying and Selling

In related news, Director Bruce I. Sachs purchased 5,000 shares of the business's stock in a transaction that occurred on Wednesday, August 6th. The shares were purchased at an average cost of $389.68 per share, for a total transaction of $1,948,400.00. Following the purchase, the director directly 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 purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.20% of the stock is owned by corporate insiders.

Vertex Pharmaceuticals Stock Performance

NASDAQ:VRTX opened at $414.86 on Friday. Vertex Pharmaceuticals Incorporated has a 1 year low of $362.50 and a 1 year high of $519.88. The stock has a 50-day simple moving average of $394.99 and a 200-day simple moving average of $440.30. The stock has a market cap of $106.37 billion, a P/E ratio of 29.65 and a beta of 0.43.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last issued its earnings results on Monday, August 4th. The pharmaceutical company reported $4.52 earnings per share (EPS) for the quarter, beating 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 business had revenue of $2.94 billion during the quarter, compared to analysts' expectations of $2.90 billion. During the same quarter in the prior year, the business 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, equities research analysts predict that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. Morgan Stanley set a $439.00 price objective on shares of Vertex Pharmaceuticals and gave the company an "equal weight" rating in a research note on Tuesday, August 5th. Royal Bank Of Canada lowered their price objective on shares of Vertex Pharmaceuticals from $430.00 to $405.00 and set a "sector perform" rating for the company in a research note on Tuesday, August 5th. JPMorgan Chase & Co. raised their price objective on shares of Vertex Pharmaceuticals from $517.00 to $530.00 and gave the company an "overweight" rating in a research note on Wednesday. BMO Capital Markets set a $530.00 price target on shares of Vertex Pharmaceuticals and gave the stock an "outperform" rating in a research note on Tuesday, August 5th. Finally, Evercore ISI decreased their price target on shares of Vertex Pharmaceuticals from $510.00 to $475.00 and set an "outperform" rating for the company in a research note on Thursday, September 11th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and twelve have issued a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $494.43.

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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