RWA Wealth Partners LLC Has $1.21 Million Stock Holdings in Vertex Pharmaceuticals Incorporated $VRTX

Key Points

• RWA Wealth Partners LLC reduced its stake in Vertex Pharmaceuticals by 30.6% in Q1, leaving them with $1.21 million in holdings, totaling 2,485 shares.
• Several institutional investors increased their stakes in Vertex, with Brighton Jones LLC boosting their holdings by 45% during the same period, indicating a strong interest in the company.
• Vertex Pharmaceuticals reported better-than-expected quarterly earnings with $4.52 EPS, beating estimates and reflecting a year-over-year revenue increase of 11.3%.

RWA Wealth Partners LLC lessened its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 30.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,485 shares of the pharmaceutical company's stock after selling 1,098 shares during the period. RWA Wealth Partners LLC's holdings in Vertex Pharmaceuticals were worth $1,205,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Aries Wealth Management bought a new stake in shares of Vertex Pharmaceuticals in the first quarter valued at approximately $293,000. Polar Asset Management Partners Inc. bought a new stake in shares of Vertex Pharmaceuticals in the fourth quarter valued at approximately $22,954,000. GAMMA Investing LLC boosted its position 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 acquiring an additional 1,005 shares during the period. Brighton Jones LLC boosted its position in shares of Vertex Pharmaceuticals by 45.0% in the first 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. Finally, Stanley Laman Group Ltd. bought a new stake in shares of Vertex Pharmaceuticals in the first quarter valued at approximately $486,000. Institutional investors and hedge funds own 90.96% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Guggenheim reduced their price objective on Vertex Pharmaceuticals from $558.00 to $546.00 and set a "buy" rating for the company in a research report on Wednesday, August 6th. William Blair reissued an "outperform" rating on shares of Vertex Pharmaceuticals in a research report on Tuesday, May 6th. UBS Group set a $553.00 price objective on Vertex Pharmaceuticals and gave the company a "buy" rating in a research report on Tuesday, August 5th. Needham & Company LLC reaffirmed a "hold" rating on shares of Vertex Pharmaceuticals in a research report on Tuesday, May 6th. Finally, Royal Bank Of Canada reduced their target price on Vertex Pharmaceuticals from $430.00 to $405.00 and set a "sector perform" rating for the company in a research report on Tuesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and thirteen have issued a Hold rating to the company's stock. Based on data from MarketBeat, Vertex Pharmaceuticals currently has an average rating of "Moderate Buy" and a consensus target price of $497.10.

Insider Activity

In related news, Director Bruce I. Sachs acquired 5,000 shares of the business's stock in a transaction on Wednesday, August 6th. The stock was bought at an average cost of $389.68 per share, with a total value of $1,948,400.00. Following the completion of the acquisition, the director owned 45,000 shares in the company, valued at $17,535,600. The trade was a 12.50% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.20% of the company's stock.

Vertex Pharmaceuticals Stock Performance

Shares of NASDAQ VRTX opened at $390.76 on Wednesday. The stock has a market cap of $100.19 billion, a PE ratio of 27.93 and a beta of 0.44. The business has a fifty day moving average of $442.61 and a two-hundred day moving average of $463.11. 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 issued 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 during the quarter, compared to analysts' expectations of $2.90 billion. Vertex Pharmaceuticals had a return on equity of 23.91% and a net margin of 31.86%.The business's revenue was up 11.3% on a year-over-year basis. During the same period last year, the business earned ($12.83) earnings per share. Vertex Pharmaceuticals has set its FY 2025 guidance at EPS. Analysts predict that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current year.

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.

Want to see what other hedge funds are holding VRTX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.