Polar Asset Management Partners Inc. Lowers Stock Holdings in Vertex Pharmaceuticals Incorporated $VRTX

Key Points

• Polar Asset Management Partners Inc. reduced its stake in Vertex Pharmaceuticals by 62.1%, owning 21,594 shares after selling 35,406 shares in the first quarter.
• Vertex Pharmaceuticals reported earnings of $4.52 EPS for the latest quarter, exceeding estimates, and had a revenue of $2.94 billion, a rise of 11.3% compared to the previous year.
• The stock currently has an average rating of "Moderate Buy" from analysts, with a revised average price target of $497.10.

Polar Asset Management Partners Inc. trimmed its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 62.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 21,594 shares of the pharmaceutical company's stock after selling 35,406 shares during the quarter. Polar Asset Management Partners Inc.'s holdings in Vertex Pharmaceuticals were worth $10,469,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Aries Wealth Management purchased a new position in Vertex Pharmaceuticals during the 1st quarter valued at about $293,000. Brighton Jones LLC boosted its holdings in Vertex Pharmaceuticals by 45.0% during the 1st quarter. Brighton Jones LLC now owns 6,421 shares of the pharmaceutical company's stock valued at $3,113,000 after acquiring an additional 1,994 shares during the period. GAMMA Investing LLC boosted its holdings in Vertex Pharmaceuticals by 25.1% during the 1st quarter. GAMMA Investing LLC now owns 5,002 shares of the pharmaceutical company's stock valued at $2,425,000 after acquiring an additional 1,005 shares during the period. Stanley Laman Group Ltd. purchased a new position in Vertex Pharmaceuticals during the 1st quarter valued at about $486,000. Finally, Compagnie Lombard Odier SCmA boosted its stake in shares of Vertex Pharmaceuticals by 31.4% in the 1st quarter. Compagnie Lombard Odier SCmA now owns 12,565 shares of the pharmaceutical company's stock valued at $6,092,000 after buying an additional 3,000 shares during the period. 90.96% of the stock is currently owned by hedge funds and other institutional investors.

Vertex Pharmaceuticals Stock Up 0.1%

VRTX opened at $396.93 on Friday. The firm has a market cap of $101.77 billion, a price-to-earnings ratio of 28.37 and a beta of 0.44. Vertex Pharmaceuticals Incorporated has a 52 week low of $362.50 and a 52 week high of $519.88. The business's 50 day moving average is $429.40 and its two-hundred day moving average is $456.95.

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

Wall Street Analyst Weigh In

VRTX has been the subject of several recent research reports. Stifel Nicolaus decreased their price objective on Vertex Pharmaceuticals from $494.00 to $455.00 and set a "hold" rating for the company in a research note on Tuesday, August 5th. Wall Street Zen cut Vertex Pharmaceuticals from a "strong-buy" rating to a "buy" rating in a research note on Friday, August 22nd. Erste Group Bank cut Vertex Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research note on Friday, May 23rd. Scotiabank decreased their price objective on Vertex Pharmaceuticals from $442.00 to $438.00 and set a "sector perform" rating for the company in a research note on Tuesday, August 5th. Finally, Guggenheim decreased their price objective on Vertex Pharmaceuticals from $558.00 to $546.00 and set a "buy" rating for the company in a research note on Wednesday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and thirteen have issued a Hold rating to the company's stock. Based on data from MarketBeat, Vertex Pharmaceuticals has an average rating of "Moderate Buy" and an average price target of $497.10.

Insider Buying and Selling

In related news, Director Bruce I. Sachs purchased 5,000 shares of the business's stock in a transaction dated Wednesday, August 6th. The stock was acquired at an average price of $389.68 per share, for a total transaction of $1,948,400.00. Following the completion of the purchase, the director directly owned 45,000 shares of the company's stock, valued at $17,535,600. This trade represents a 12.50% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.20% of the stock is currently owned by company insiders.

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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