Vident Advisory LLC Sells 3,756 Shares of Vertex Pharmaceuticals Incorporated $VRTX

Key Points

• Vident Advisory LLC has reduced its holdings in Vertex Pharmaceuticals by 18.9% after selling 3,756 shares, bringing its total ownership to 16,078 shares worth $7,795,000.
• Research analysts have mixed ratings on Vertex Pharmaceuticals, with price targets ranging from $485.00 to $517.00, and a consensus rating of "Moderate Buy" alongside an average price target of $497.10.
• Vertex reported $4.52 earnings per share (EPS) for its most recent quarter, surpassing estimates, and recorded a revenue of $2.94 billion, reflecting an 11.3% year-over-year increase.

Vident Advisory LLC decreased its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 18.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,078 shares of the pharmaceutical company's stock after selling 3,756 shares during the quarter. Vident Advisory LLC's holdings in Vertex Pharmaceuticals were worth $7,795,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Clal Insurance Enterprises Holdings Ltd lifted its position in Vertex Pharmaceuticals by 450.0% during the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 55 shares of the pharmaceutical company's stock worth $27,000 after purchasing an additional 45 shares during the period. Mascagni Wealth Management Inc. bought a new stake in Vertex Pharmaceuticals during the fourth quarter worth about $31,000. Mpwm Advisory Solutions LLC bought a new stake in Vertex Pharmaceuticals during the fourth quarter worth about $40,000. Minot DeBlois Advisors LLC bought a new stake in Vertex Pharmaceuticals during the fourth quarter worth about $44,000. Finally, SJS Investment Consulting Inc. lifted its position 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 purchasing an additional 30 shares during the period. Institutional investors own 90.96% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. JPMorgan Chase & Co. increased their target price on shares of Vertex Pharmaceuticals from $515.00 to $517.00 and gave the stock an "overweight" rating in a report on Monday, July 14th. Leerink Partners reissued a "market perform" rating and issued a $503.00 target price (down previously from $550.00) on shares of Vertex Pharmaceuticals in a report on Tuesday, May 6th. Wall Street Zen cut shares of Vertex Pharmaceuticals from a "strong-buy" rating to a "buy" rating in a report on Friday, August 22nd. Cantor Fitzgerald dropped 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. Finally, William Blair reissued an "outperform" rating on shares of Vertex Pharmaceuticals in a report on Tuesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and thirteen have given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $497.10.

Vertex Pharmaceuticals Price Performance

Shares of NASDAQ VRTX opened at $391.02 on Friday. The company has a 50 day simple moving average of $433.35 and a 200 day simple moving average of $458.66. The firm has a market cap of $100.25 billion, a PE ratio of 27.95 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 issued its quarterly earnings data on Monday, August 4th. The pharmaceutical company reported $4.52 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.24 by $0.28. The business had revenue of $2.94 billion during the quarter, compared to analyst estimates of $2.90 billion. Vertex Pharmaceuticals had a net margin of 31.86% and a return on equity of 23.91%. The firm's quarterly revenue was up 11.3% on a year-over-year basis. During the same quarter last year, the business earned ($12.83) EPS. Vertex Pharmaceuticals has set its FY 2025 guidance at EPS. As a group, research analysts anticipate that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current fiscal year.

Insiders Place Their Bets

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

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.

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