SG Americas Securities LLC Sells 114,017 Shares of Vertex Pharmaceuticals Incorporated $VRTX

Key Points

• SG Americas Securities LLC cut its Vertex stake by 66.7% in the first quarter, selling 114,017 shares and ending with 56,982 shares worth about $25.4 million.
• Vertex continues to show solid operating performance, reporting Q1 earnings of $4.47 per share, above estimates, on revenue of $2.99 billion, up 8.3% year over year.
• Investor sentiment remains positive thanks to encouraging pipeline news around povetacicept and CASGEVY, while analysts largely maintain bullish ratings with an average target price of about $555.91.

SG Americas Securities LLC decreased its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 66.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 56,982 shares of the pharmaceutical company's stock after selling 114,017 shares during the quarter. SG Americas Securities LLC's holdings in Vertex Pharmaceuticals were worth $25,445,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the stock. Brighton Jones LLC grew its position in Vertex Pharmaceuticals by 15.0% during the 4th 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 last quarter. Gamco Investors INC. ET AL purchased a new position in Vertex Pharmaceuticals in the second quarter worth about $228,000. NewEdge Advisors LLC lifted its stake in shares of Vertex Pharmaceuticals by 9.0% in the second quarter. NewEdge Advisors LLC now owns 11,929 shares of the pharmaceutical company's stock worth $5,311,000 after buying an additional 986 shares in the last quarter. ICW Investment Advisors LLC lifted its stake in shares of Vertex Pharmaceuticals by 5.0% in the second quarter. ICW Investment Advisors LLC now owns 604 shares of the pharmaceutical company's stock worth $269,000 after buying an additional 29 shares in the last quarter. Finally, Diversify Advisory Services LLC grew its holdings in shares of Vertex Pharmaceuticals by 26.3% during the second quarter. Diversify Advisory Services LLC now owns 7,291 shares of the pharmaceutical company's stock valued at $3,246,000 after buying an additional 1,518 shares during the last quarter. 90.96% of the stock is owned by institutional investors.

Insider Buying and Selling at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, CMO Carmen Bozic sold 6,988 shares of the firm's stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $450.00, for a total value of $3,144,600.00. Following the transaction, the chief marketing officer directly owned 26,088 shares of the company's stock, valued at approximately $11,739,600. This trade represents a 21.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Sangeeta N. Bhatia sold 318 shares of the company's stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $423.73, for a total transaction of $134,746.14. Following the sale, the director directly owned 4,924 shares of the company's stock, valued at $2,086,446.52. The trade was a 6.07% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 16,215 shares of company stock valued at $7,272,420. 0.20% of the stock is owned by company insiders.

Vertex Pharmaceuticals News Roundup

Here are the key news stories impacting Vertex Pharmaceuticals this week:

• Positive Sentiment: Vertex received an upgrade-driven boost from commentary highlighting povetacicept as a potential new growth driver, reinforcing optimism that the company’s pipeline can support earnings beyond its cystic fibrosis franchise. Article Title
• Positive Sentiment: New pediatric data for CASGEVY showed strong clinical benefits and a consistent safety profile in children, supporting Vertex’s regulatory and commercial outlook for its CRISPR-based therapy. Article Title
• Positive Sentiment: Analyst sentiment remains constructive, with multiple firms reiterating bullish views and price targets above the current share price, suggesting continued institutional confidence in Vertex’s longer-term growth story. Article Title

Vertex Pharmaceuticals Trading Up 1.4%

NASDAQ:VRTX opened at $475.20 on Thursday. The company has a market cap of $120.61 billion, a PE ratio of 28.19, a price-to-earnings-growth ratio of 2.00 and a beta of 0.30. The company has a 50 day simple moving average of $440.46 and a two-hundred day simple moving average of $453.72. Vertex Pharmaceuticals Incorporated has a 12 month low of $362.50 and a 12 month high of $507.92.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last released its quarterly earnings results on Monday, May 4th. The pharmaceutical company reported $4.47 earnings per share for the quarter, beating the consensus estimate of $4.24 by $0.23. Vertex Pharmaceuticals had a return on equity of 23.86% and a net margin of 35.51%.The firm had revenue of $2.99 billion for the quarter, compared to analysts' expectations of $2.99 billion. During the same period in the prior year, the firm earned $4.06 EPS. The company's revenue was up 8.3% compared to the same quarter last year. Research analysts forecast that Vertex Pharmaceuticals Incorporated will post 17.02 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on VRTX. Weiss Ratings raised shares of Vertex Pharmaceuticals from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Monday, May 18th. Canaccord Genuity Group reduced their target price on Vertex Pharmaceuticals from $437.00 to $436.00 and set a "hold" rating for the company in a report on Tuesday, May 5th. Royal Bank Of Canada boosted their price target on Vertex Pharmaceuticals from $541.00 to $543.00 and gave the stock an "outperform" rating in a research note on Tuesday, May 5th. Jefferies Financial Group assumed coverage on Vertex Pharmaceuticals in a report on Tuesday, March 10th. They set a "buy" rating and a $580.00 price target on the stock. Finally, Wall Street Zen raised Vertex Pharmaceuticals from a "hold" rating to a "buy" rating in a research report on Saturday, June 20th. Twenty-two research analysts have rated the stock with a Buy rating and three 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 $555.91.

Vertex Pharmaceuticals Profile

Vertex Pharmaceuticals Inc is a Boston-based biotechnology company focused on the discovery, development and commercialization of therapies for serious diseases. Founded in 1989, Vertex built its reputation on research-driven drug development and is best known for its work in cystic fibrosis (CF), where its portfolio of small-molecule CFTR modulators transformed standards of care for many people with the disease. The company operates research and development, manufacturing and commercial organizations and serves patients and healthcare systems in multiple international markets.

Vertex's marketed products center on CFTR modulators that target the underlying cause of cystic fibrosis rather than just treating symptoms.

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