Prime Capital Investment Advisors LLC Cuts Stake in Vertex Pharmaceuticals Incorporated $VRTX

Key Points

• Prime Capital Investment Advisors LLC reduced its stake in Vertex Pharmaceuticals by 19.7%, selling 735 shares, leaving them with 2,996 shares valued at approximately $1.33 million.
• Insider activity saw Director Bruce I. Sachs purchasing 5,000 shares at an average price of $389.68, increasing his total ownership to 45,000 shares valued at nearly $17.54 million.
• Vertex Pharmaceuticals reported quarterly earnings of $4.52 per share, exceeding expectations, with a revenue of $2.94 billion, an 11.3% increase year-over-year.

Prime Capital Investment Advisors LLC reduced its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 19.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,996 shares of the pharmaceutical company's stock after selling 735 shares during the period. Prime Capital Investment Advisors LLC's holdings in Vertex Pharmaceuticals were worth $1,334,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in shares of Vertex Pharmaceuticals by 1.0% during the 1st 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 shares of Vertex Pharmaceuticals by 17.2% during the 1st 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 shares of Vertex Pharmaceuticals by 0.9% during the 1st 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 raised its holdings in Vertex Pharmaceuticals by 72.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,917,227 shares of the pharmaceutical company's stock valued at $1,414,331,000 after buying an additional 1,226,527 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Vertex Pharmaceuticals by 9.9% in 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 valued at $1,240,885,000 after buying an additional 230,257 shares during the period. 90.96% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Vertex Pharmaceuticals

In related news, Director Bruce I. Sachs purchased 5,000 shares of the firm's stock in a transaction dated Wednesday, August 6th. The stock was acquired at an average price of $389.68 per share, with a total value of $1,948,400.00. Following the completion of the transaction, the director owned 45,000 shares of the company's stock, valued at $17,535,600. This represents a 12.50% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.20% of the company's stock.

Vertex Pharmaceuticals Stock Up 2.6%

VRTX opened at $421.15 on Thursday. The firm has a market capitalization of $107.98 billion, a P/E ratio of 30.10 and a beta of 0.43. The firm's 50 day moving average is $395.83 and its 200-day moving average is $440.97. Vertex Pharmaceuticals Incorporated has a 52-week low of $362.50 and a 52-week high of $519.88.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last posted 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 company had revenue of $2.94 billion for the quarter, compared to analyst estimates of $2.90 billion. Vertex Pharmaceuticals had a net margin of 31.86% and a return on equity of 23.91%. The business's quarterly revenue was up 11.3% on a year-over-year basis. During the same quarter last year, the firm 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 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

VRTX has been the topic of several research reports. Wells Fargo & Company upgraded shares of Vertex Pharmaceuticals from an "equal weight" rating to an "overweight" rating and set a $460.00 price target on the stock in a report on Wednesday, August 6th. Guggenheim cut their price target on shares of Vertex Pharmaceuticals from $558.00 to $546.00 and set a "buy" rating on the stock in a report on Wednesday, August 6th. Leerink Partnrs upgraded shares of Vertex Pharmaceuticals from a "hold" rating to a "strong-buy" rating in a report on Thursday, September 25th. Morgan Stanley set a $439.00 price target on shares of Vertex Pharmaceuticals and gave the company an "equal weight" rating in a report on Tuesday, August 5th. Finally, BMO Capital Markets set a $530.00 price target on shares of Vertex Pharmaceuticals and gave the company an "outperform" rating in a report on Tuesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and twelve have given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $494.43.

Vertex Pharmaceuticals Company 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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