Armistice Capital LLC Cuts Stock Position in Vertex Pharmaceuticals Incorporated $VRTX

Key Points

• Armistice Capital LLC reduced its stake in Vertex Pharmaceuticals by 77.7%, selling 174,016 shares and leaving them with 50,000 shares valued at approximately $24.24 million.
• Several hedge funds, including the Saudi Central Bank and Retirement Planning Co of New England Inc., also adjusted their stakes in Vertex Pharmaceuticals during the same quarter.
• Vertex Pharmaceuticals reported earnings of $4.52 per share for the latest quarter, exceeding analysts' estimates and marking an 11.3% increase in revenue year-over-year.

Armistice Capital LLC reduced its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 77.7% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 50,000 shares of the pharmaceutical company's stock after selling 174,016 shares during the period. Armistice Capital LLC's holdings in Vertex Pharmaceuticals were worth $24,241,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Activest Wealth Management bought a new stake in shares of Vertex Pharmaceuticals in the 1st quarter worth about $25,000. Clal Insurance Enterprises Holdings Ltd lifted its holdings in shares of Vertex Pharmaceuticals by 450.0% in the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 55 shares of the pharmaceutical company's stock worth $27,000 after acquiring an additional 45 shares during the last quarter. Mascagni Wealth Management Inc. bought a new stake in shares of Vertex Pharmaceuticals in the 4th quarter worth about $31,000. Mpwm Advisory Solutions LLC bought a new stake in shares of Vertex Pharmaceuticals in the 4th quarter worth about $40,000. Finally, Minot DeBlois Advisors LLC bought a new stake in shares of Vertex Pharmaceuticals in the 4th quarter worth about $44,000. 90.96% of the stock is owned by hedge funds and other institutional investors.

Vertex Pharmaceuticals Price Performance

Shares of NASDAQ:VRTX traded down $4.38 during trading hours on Wednesday, hitting $396.62. The company's stock had a trading volume of 1,237,261 shares, compared to its average volume of 2,441,718. Vertex Pharmaceuticals Incorporated has a 52 week low of $362.50 and a 52 week high of $519.88. The company has a market capitalization of $101.69 billion, a price-to-earnings ratio of 28.35 and a beta of 0.44. The firm's fifty day moving average price is $431.31 and its 200 day moving average price is $457.80.

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

Insider Activity at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, Director Bruce I. Sachs purchased 5,000 shares of Vertex Pharmaceuticals stock in a transaction dated Wednesday, August 6th. The stock was acquired at an average price of $389.68 per share, for a total transaction of $1,948,400.00. Following the acquisition, the director owned 45,000 shares in the company, valued at $17,535,600. This trade represents a 12.50% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.20% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Leerink Partnrs lowered shares of Vertex Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 6th. Scotiabank lowered their target price on shares of Vertex Pharmaceuticals from $442.00 to $438.00 and set a "sector perform" rating for the company in a report on Tuesday, August 5th. Cantor Fitzgerald lowered their target price on shares of Vertex Pharmaceuticals from $535.00 to $485.00 and set an "overweight" rating for the company in a report on Tuesday, August 5th. Raymond James Financial began coverage on shares of Vertex Pharmaceuticals in a report on Tuesday. They issued a "market perform" rating for the company. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Vertex Pharmaceuticals from $515.00 to $517.00 and gave the company an "overweight" rating in a report on Monday, July 14th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and thirteen have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $497.10.

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.