Te Ahumairangi Investment Management Ltd Cuts Stock Holdings in Vertex Pharmaceuticals Incorporated $VRTX

Key Points

• Te Ahumairangi Investment Management Ltd reduced its stake in Vertex Pharmaceuticals by 26.5%, owning 9,118 shares worth approximately $4.42 million after selling 3,295 shares in the first quarter.
• Several hedge funds have increased their positions in Vertex, including Clal Insurance Enterprises Holdings Ltd, which boosted its stake by 450% during the same period.
• Wells Fargo upgraded Vertex Pharmaceuticals to an "overweight" rating, setting a new price target of $460.00, while other analysts have various ratings affecting an average target of $497.10.

Te Ahumairangi Investment Management Ltd decreased its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 26.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,118 shares of the pharmaceutical company's stock after selling 3,295 shares during the period. Te Ahumairangi Investment Management Ltd's holdings in Vertex Pharmaceuticals were worth $4,421,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Clal Insurance Enterprises Holdings Ltd boosted its position in shares of Vertex Pharmaceuticals by 450.0% during the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 55 shares of the pharmaceutical company's stock valued at $27,000 after buying an additional 45 shares during the last quarter. Mascagni Wealth Management Inc. bought a new stake in Vertex Pharmaceuticals during the fourth quarter worth $31,000. Mpwm Advisory Solutions LLC bought a new stake in Vertex Pharmaceuticals during the fourth quarter worth $40,000. Minot DeBlois Advisors LLC bought a new stake in Vertex Pharmaceuticals during the fourth quarter worth $44,000. Finally, SJS Investment Consulting Inc. lifted its holdings in Vertex Pharmaceuticals by 46.2% during the first quarter. SJS Investment Consulting Inc. now owns 95 shares of the pharmaceutical company's stock worth $46,000 after acquiring an additional 30 shares during the period. Hedge funds and other institutional investors own 90.96% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on VRTX. Wells Fargo & Company upgraded 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. Needham & Company LLC reiterated a "hold" rating on shares of Vertex Pharmaceuticals in a report on Tuesday, May 6th. Leerink Partners reiterated a "market perform" rating and set a $503.00 price target (down from $550.00) on shares of Vertex Pharmaceuticals in a report on Tuesday, May 6th. Guggenheim dropped their price target on Vertex Pharmaceuticals from $558.00 to $546.00 and set a "buy" rating on the stock in a report on Wednesday, August 6th. Finally, Wolfe Research lowered Vertex Pharmaceuticals from an "outperform" rating to a "peer perform" rating in a report on Wednesday, May 7th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and thirteen have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $497.10.

Insider Activity

In related news, Director Bruce I. Sachs purchased 5,000 shares of Vertex Pharmaceuticals stock in a transaction dated Wednesday, August 6th. The stock was bought at an average cost of $389.68 per share, for a total transaction of $1,948,400.00. Following the completion of the transaction, the director owned 45,000 shares in the company, valued at $17,535,600. This trade 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 is accessible through this link. 0.20% of the stock is currently owned by insiders.

Vertex Pharmaceuticals Price Performance

Shares of VRTX opened at $392.05 on Friday. The firm has a market cap of $100.52 billion, a PE ratio of 28.02 and a beta of 0.44. The stock's fifty day moving average price is $434.34 and its two-hundred day moving average price is $459.10. Vertex Pharmaceuticals Incorporated has a 1 year low of $362.50 and a 1 year high of $519.88.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last issued its earnings results on Monday, August 4th. The pharmaceutical company reported $4.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.24 by $0.28. The firm 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 business's revenue was up 11.3% on a year-over-year basis. During the same period in the previous year, the company posted ($12.83) earnings per share. Vertex Pharmaceuticals has set its FY 2025 guidance at EPS. Sell-side analysts anticipate that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current fiscal year.

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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