Jump Financial LLC Trims Position in Vertex Pharmaceuticals Incorporated $VRTX

Key Points

• Jump Financial LLC sold 60.3% of its shares in Vertex Pharmaceuticals, reducing its holdings to 1,208 shares valued at approximately $586,000 at the end of the quarter.
• Vertex Pharmaceuticals reported a quarterly earnings per share (EPS) of $4.52, exceeding the consensus estimate of $4.24, with revenues of $2.94 billion during the quarter.
• The stock has a consensus rating of "Moderate Buy" with a price target range set between $405.00 and $503.00 by various analysts.

Jump Financial LLC reduced its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 60.3% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 1,208 shares of the pharmaceutical company's stock after selling 1,833 shares during the period. Jump Financial LLC's holdings in Vertex Pharmaceuticals were worth $586,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in VRTX. 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 valued at $27,000 after purchasing an additional 45 shares during the last quarter. Mascagni Wealth Management Inc. acquired a new position in Vertex Pharmaceuticals in the 4th quarter valued at about $31,000. Mpwm Advisory Solutions LLC acquired a new position in Vertex Pharmaceuticals in the 4th quarter valued at about $40,000. Minot DeBlois Advisors LLC acquired a new position in Vertex Pharmaceuticals in the 4th quarter valued at about $44,000. Finally, SJS Investment Consulting Inc. increased its position in Vertex Pharmaceuticals by 46.2% in the 1st quarter. SJS Investment Consulting Inc. now owns 95 shares of the pharmaceutical company's stock valued at $46,000 after acquiring an additional 30 shares during the period. 90.96% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Vertex Pharmaceuticals news, Director Bruce I. Sachs purchased 5,000 shares of Vertex Pharmaceuticals stock in a transaction on Wednesday, August 6th. The shares were bought at an average price of $389.68 per share, with a total value of $1,948,400.00. Following the purchase, the director directly owned 45,000 shares in the company, valued at $17,535,600. This trade represents a 12.50% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.20% of the company's stock.

Analyst Ratings Changes

Several equities analysts have issued reports on VRTX shares. BMO Capital Markets set a $530.00 target price on Vertex Pharmaceuticals and gave the stock an "outperform" rating in a research report on Tuesday, August 5th. Wall Street Zen cut Vertex Pharmaceuticals from a "strong-buy" rating to a "buy" rating in a research report on Friday, August 22nd. Wolfe Research cut Vertex Pharmaceuticals from an "outperform" rating to a "peer perform" rating in a research report on Wednesday, May 7th. Royal Bank Of Canada dropped their target price on Vertex Pharmaceuticals from $430.00 to $405.00 and set a "sector perform" rating on the stock in a research report on Tuesday, August 5th. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Vertex Pharmaceuticals in a research report on Tuesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and thirteen have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $497.10.

Vertex Pharmaceuticals Price Performance

NASDAQ:VRTX traded up $9.98 during trading hours on Tuesday, reaching $401.00. 1,856,250 shares of the company traded hands, compared to its average volume of 2,441,718. The firm's 50-day moving average is $431.31 and its 200-day moving average is $457.80. The stock has a market cap of $102.81 billion, a P/E ratio of 28.66 and a beta of 0.44. 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 announced its earnings results on Monday, August 4th. The pharmaceutical company reported $4.52 EPS for the quarter, beating analysts' consensus estimates of $4.24 by $0.28. The firm had revenue of $2.94 billion for 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%.Vertex Pharmaceuticals's quarterly revenue was up 11.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($12.83) EPS. Vertex Pharmaceuticals has set its FY 2025 guidance at EPS. As a group, research analysts predict that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current 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.