Berkshire Asset Management LLC PA Lowers Position in Vertex Pharmaceuticals Incorporated $VRTX

Berkshire Asset Management LLC PA cut its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 7.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,370 shares of the pharmaceutical company’s stock after selling 274 shares during the quarter. Berkshire Asset Management LLC PA’s holdings in Vertex Pharmaceuticals were worth $1,634,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Aries Wealth Management purchased a new position in Vertex Pharmaceuticals during the 1st quarter valued at about $293,000. Polar Asset Management Partners Inc. purchased a new position in Vertex Pharmaceuticals during the 4th quarter valued at about $22,954,000. GAMMA Investing LLC boosted its holdings in Vertex Pharmaceuticals by 25.1% during the 1st quarter. GAMMA Investing LLC now owns 5,002 shares of the pharmaceutical company’s stock valued at $2,425,000 after acquiring an additional 1,005 shares during the period. Brighton Jones LLC boosted its holdings in Vertex Pharmaceuticals by 45.0% during the 1st quarter. Brighton Jones LLC now owns 6,421 shares of the pharmaceutical company’s stock valued at $3,113,000 after acquiring an additional 1,994 shares during the period. Finally, Stanley Laman Group Ltd. purchased a new position in Vertex Pharmaceuticals during the 1st quarter valued at about $486,000. 90.96% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. HC Wainwright lowered their target price on Vertex Pharmaceuticals from $550.00 to $478.00 and set a “buy” rating for the company in a report on Tuesday, August 5th. Cantor Fitzgerald reduced their price target on Vertex Pharmaceuticals from $535.00 to $485.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 5th. Scotiabank reduced their price target on Vertex Pharmaceuticals from $442.00 to $438.00 and set a “sector perform” rating on the stock in a research report on Tuesday, August 5th. Stifel Nicolaus reduced their price target on Vertex Pharmaceuticals from $494.00 to $455.00 and set a “hold” rating on the stock in a research report on Tuesday, August 5th. Finally, BMO Capital Markets set a $530.00 price target on Vertex Pharmaceuticals and gave the company an “outperform” rating in a research report on Tuesday, August 5th. 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 company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $497.10.

Insider Buying and Selling

In other news, Director Bruce I. Sachs purchased 5,000 shares of the business’s 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 completion of the transaction, the director directly owned 45,000 shares in the company, valued at approximately $17,535,600. This represents a 12.50% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.20% of the stock is currently owned by company insiders.

Vertex Pharmaceuticals Stock Performance

Shares of NASDAQ VRTX opened at $390.76 on Wednesday. Vertex Pharmaceuticals Incorporated has a fifty-two week low of $362.50 and a fifty-two week high of $519.88. The firm has a market capitalization of $100.19 billion, a PE ratio of 27.93 and a beta of 0.44. The stock’s 50-day simple moving average is $442.61 and its 200-day simple moving average is $463.11.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released 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 company 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 firm’s revenue was up 11.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($12.83) earnings per share. Vertex Pharmaceuticals has set its FY 2025 guidance at EPS. On average, sell-side analysts forecast that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current fiscal year.

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.