Curi RMB Capital LLC Sells 1,289 Shares of Vertex Pharmaceuticals Incorporated $VRTX

Key Points

• Curi RMB Capital LLC has reduced its holdings in Vertex Pharmaceuticals by 75.4% in the first quarter, now owning 421 shares valued at approximately $204,000.
• Vertex Pharmaceuticals reported a net margin of 31.86% and a revenue of $2.94 billion for the quarter, exceeding analyst expectations.
• Wall Street analysts have mixed ratings on Vertex Pharmaceuticals, with an average target price of $497.10 and classifications ranging from "Strong Buy" to "Hold".

Curi RMB Capital LLC cut its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 75.4% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 421 shares of the pharmaceutical company's stock after selling 1,289 shares during the quarter. Curi RMB Capital LLC's holdings in Vertex Pharmaceuticals were worth $204,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the company. Quent Capital LLC increased its position in shares of Vertex Pharmaceuticals by 4.5% during the 1st quarter. Quent Capital LLC now owns 513 shares of the pharmaceutical company's stock valued at $249,000 after purchasing an additional 22 shares during the period. Advisor OS LLC increased its position in shares of Vertex Pharmaceuticals by 4.4% during the 1st quarter. Advisor OS LLC now owns 543 shares of the pharmaceutical company's stock valued at $263,000 after purchasing an additional 23 shares during the period. Sculati Wealth Management LLC increased its position in shares of Vertex Pharmaceuticals by 1.0% during the 4th quarter. Sculati Wealth Management LLC now owns 2,556 shares of the pharmaceutical company's stock valued at $1,029,000 after purchasing an additional 25 shares during the period. Avidian Wealth Enterprises LLC increased its position in shares of Vertex Pharmaceuticals by 2.1% during the 1st quarter. Avidian Wealth Enterprises LLC now owns 1,225 shares of the pharmaceutical company's stock valued at $594,000 after purchasing an additional 25 shares during the period. Finally, Strategic Blueprint LLC increased its position in shares of Vertex Pharmaceuticals by 1.7% during the 1st quarter. Strategic Blueprint LLC now owns 1,498 shares of the pharmaceutical company's stock valued at $726,000 after purchasing an additional 25 shares during the period. 90.96% of the stock is currently owned by institutional investors and hedge funds.

Vertex Pharmaceuticals Stock Up 0.3%

Shares of NASDAQ:VRTX traded up $1.23 on Tuesday, reaching $396.48. The company had a trading volume of 946,736 shares, compared to its average volume of 1,480,506. Vertex Pharmaceuticals Incorporated has a twelve month low of $362.50 and a twelve month high of $519.88. The stock has a 50-day moving average price of $426.38 and a 200 day moving average price of $455.19. The stock has a market capitalization of $101.65 billion, a P/E ratio of 28.34 and a beta of 0.44.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last announced its quarterly earnings results on Monday, August 4th. The pharmaceutical company reported $4.52 earnings per share for the quarter, topping analysts' consensus estimates of $4.24 by $0.28. The company had revenue of $2.94 billion during the quarter, compared to analysts' expectations of $2.90 billion. Vertex Pharmaceuticals had a return on equity of 23.91% and a net margin of 31.86%.The business'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) earnings per share. Vertex Pharmaceuticals has set its FY 2025 guidance at EPS. On average, sell-side analysts predict that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Stifel Nicolaus decreased their target price on Vertex Pharmaceuticals from $494.00 to $455.00 and set a "hold" 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 target price on the stock in a report on Wednesday, August 6th. Raymond James Financial assumed coverage on Vertex Pharmaceuticals in a report on Tuesday, September 2nd. They issued a "market perform" rating on the stock. Erste Group Bank cut Vertex Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a report on Friday, May 23rd. Finally, HC Wainwright decreased their target price on Vertex Pharmaceuticals from $550.00 to $478.00 and set a "buy" rating on the stock in a report on Tuesday, August 5th. One research 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 company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $497.10.

Insider Activity at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, Director Bruce I. Sachs acquired 5,000 shares of the company'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 completion of the purchase, the director owned 45,000 shares of the company's stock, valued at approximately $17,535,600. This trade represents a 12.50% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 0.20% of the company's stock.

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.