Vertex Pharmaceuticals Incorporated $VRTX Shares Sold by Cim LLC

Key Points

• Cim LLC dramatically reduced its stake in Vertex Pharmaceuticals by 85.1%, leaving it with 475 shares valued at approximately $230,000.
• Multiple institutional investors have adjusted their positions in Vertex, with 90.96% of the company's shares now owned by such investors.
• Wall Street analysts have mixed opinions on Vertex, with price targets ranging from $411.00 to $553.00 and a consensus rating of "Moderate Buy."

Cim LLC lowered its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 85.1% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 475 shares of the pharmaceutical company's stock after selling 2,719 shares during the quarter. Cim LLC's holdings in Vertex Pharmaceuticals were worth $230,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in VRTX. Activest Wealth Management acquired a new stake in Vertex Pharmaceuticals in the 1st quarter valued at $25,000. Clal Insurance Enterprises Holdings Ltd grew its stake in Vertex Pharmaceuticals by 450.0% in the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 55 shares of the pharmaceutical company's stock valued at $27,000 after acquiring an additional 45 shares during the period. Mascagni Wealth Management Inc. acquired a new stake in Vertex Pharmaceuticals in the 4th quarter valued at $31,000. Flaharty Asset Management LLC purchased a new position in Vertex Pharmaceuticals in the 1st quarter valued at $32,000. Finally, Mpwm Advisory Solutions LLC purchased a new position in Vertex Pharmaceuticals in the 4th quarter valued at $40,000. Institutional investors and hedge funds own 90.96% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on VRTX. JPMorgan Chase & Co. raised their price objective on Vertex Pharmaceuticals from $515.00 to $517.00 and gave the company an "overweight" rating in a report on Monday, July 14th. Canaccord Genuity Group decreased their price objective on Vertex Pharmaceuticals from $424.00 to $411.00 and set a "hold" rating on the stock in a report on Wednesday, August 6th. HC Wainwright decreased their price objective on Vertex Pharmaceuticals from $550.00 to $478.00 and set a "buy" rating on the stock in a report on Tuesday, August 5th. Wells Fargo & Company upgraded Vertex Pharmaceuticals from an "equal weight" rating to an "overweight" rating and set a $460.00 price objective on the stock in a report on Wednesday, August 6th. Finally, UBS Group set a $553.00 price objective on Vertex Pharmaceuticals and gave the company a "buy" rating in a report on Tuesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and thirteen have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $496.05.

Vertex Pharmaceuticals Stock Down 0.7%

NASDAQ VRTX opened at $394.53 on Friday. Vertex Pharmaceuticals Incorporated has a 52 week low of $362.50 and a 52 week high of $519.88. The business's fifty day simple moving average is $422.66 and its 200-day simple moving average is $453.56. The firm has a market cap of $101.15 billion, a PE ratio of 28.20 and a beta of 0.44.

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, topping the consensus estimate of $4.24 by $0.28. The business 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 company's quarterly revenue was up 11.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($12.83) EPS. Vertex Pharmaceuticals has set its FY 2025 guidance at EPS. Research analysts expect that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current year.

Insider Transactions at Vertex Pharmaceuticals

In related news, Director Bruce I. Sachs acquired 5,000 shares of Vertex Pharmaceuticals stock in a transaction that occurred on Wednesday, August 6th. The shares were purchased at an average cost 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 approximately $17,535,600. This represents a 12.50% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 0.20% of the company's stock.

Vertex Pharmaceuticals 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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