Sovran Advisors LLC Trims Stake in Vertex Pharmaceuticals Incorporated $VRTX

Key Points

• Sovran Advisors LLC significantly reduced its stake in Vertex Pharmaceuticals by 74.8%, now holding 1,385 shares valued at approximately $646,000.
• Multiple institutional investors recently adjusted their positions in Vertex, with hedge funds owning 90.96% of the company's stock.
• Vertex Pharmaceuticals reported strong quarterly earnings, with revenue increasing by 11.3% year-over-year, and has set a fiscal year 2025 guidance of 15.63 earnings per share.

Sovran Advisors LLC lowered its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 74.8% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,385 shares of the pharmaceutical company's stock after selling 4,104 shares during the quarter. Sovran Advisors LLC's holdings in Vertex Pharmaceuticals were worth $646,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Quent Capital LLC raised its holdings in Vertex Pharmaceuticals by 4.5% in the 1st quarter. Quent Capital LLC now owns 513 shares of the pharmaceutical company's stock valued at $249,000 after acquiring an additional 22 shares during the last quarter. Advisor OS LLC raised its holdings in Vertex Pharmaceuticals by 4.4% in the 1st quarter. Advisor OS LLC now owns 543 shares of the pharmaceutical company's stock valued at $263,000 after acquiring an additional 23 shares during the last quarter. Sculati Wealth Management LLC raised its holdings in Vertex Pharmaceuticals by 1.0% in the 4th quarter. Sculati Wealth Management LLC now owns 2,556 shares of the pharmaceutical company's stock valued at $1,029,000 after acquiring an additional 25 shares during the last quarter. Avidian Wealth Enterprises LLC raised its holdings in Vertex Pharmaceuticals by 2.1% in the 1st quarter. Avidian Wealth Enterprises LLC now owns 1,225 shares of the pharmaceutical company's stock valued at $594,000 after acquiring an additional 25 shares during the last quarter. Finally, Strategic Blueprint LLC raised its holdings in Vertex Pharmaceuticals by 1.7% in the 1st quarter. Strategic Blueprint LLC now owns 1,498 shares of the pharmaceutical company's stock valued at $726,000 after acquiring an additional 25 shares during the last quarter. Hedge funds and other institutional investors own 90.96% of the company's stock.

Analysts Set New Price Targets

VRTX has been the subject of several analyst reports. JPMorgan Chase & Co. boosted their price target on Vertex Pharmaceuticals from $515.00 to $517.00 and gave the company an "overweight" rating in a report on Monday, July 14th. Cantor Fitzgerald dropped their price objective on Vertex Pharmaceuticals from $535.00 to $485.00 and set an "overweight" rating for the company in a report on Tuesday, August 5th. Royal Bank Of Canada lowered their price target on Vertex Pharmaceuticals from $430.00 to $405.00 and set a "sector perform" rating for the company in a report on Tuesday, August 5th. Wells Fargo & Company raised shares of Vertex Pharmaceuticals from an "equal weight" rating to an "overweight" rating and set a $460.00 price objective for the company in a research report on Wednesday, August 6th. Finally, Stifel Nicolaus lowered their price objective on shares of Vertex Pharmaceuticals from $494.00 to $455.00 and set a "hold" rating on the stock in a research note on Tuesday, August 5th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and thirteen have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $496.05.

Insider Buying and Selling at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, Director Bruce I. Sachs bought 5,000 shares of the firm's stock in a transaction dated Wednesday, August 6th. The shares were acquired at an average cost of $389.68 per share, for a total transaction of $1,948,400.00. Following the transaction, the director owned 45,000 shares in the company, valued at approximately $17,535,600. The trade was a 12.50% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 0.20% of the company's stock.

Vertex Pharmaceuticals Stock Down 1.0%

Shares of NASDAQ:VRTX opened at $383.12 on Friday. The firm has a fifty day moving average of $414.44 and a two-hundred day moving average of $450.38. The firm has a market capitalization of $98.23 billion, a P/E ratio of 27.39 and a beta of 0.44. Vertex Pharmaceuticals Incorporated has a 12-month low of $362.50 and a 12-month high of $519.88.

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

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