Vertex Pharmaceuticals Incorporated $VRTX Stock Position Cut by Veracity Capital LLC

Veracity Capital LLC lessened its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 5.1% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,994 shares of the pharmaceutical company’s stock after selling 108 shares during the period. Veracity Capital LLC’s holdings in Vertex Pharmaceuticals were worth $888,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of VRTX. GAMMA Investing LLC grew its position in Vertex Pharmaceuticals by 60,572.3% in the 1st quarter. GAMMA Investing LLC now owns 2,425,070 shares of the pharmaceutical company’s stock valued at $1,175,722,000 after buying an additional 2,421,073 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Vertex Pharmaceuticals by 72.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,917,227 shares of the pharmaceutical company’s stock valued at $1,414,331,000 after purchasing an additional 1,226,527 shares in the last quarter. Nuveen LLC bought a new position in shares of Vertex Pharmaceuticals during the 1st quarter valued at about $484,053,000. Jennison Associates LLC boosted its position in shares of Vertex Pharmaceuticals by 17.2% during the 1st quarter. Jennison Associates LLC now owns 5,062,442 shares of the pharmaceutical company’s stock valued at $2,454,373,000 after purchasing an additional 744,680 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in shares of Vertex Pharmaceuticals by 28.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,775,194 shares of the pharmaceutical company’s stock valued at $860,650,000 after purchasing an additional 398,460 shares in the last quarter. Institutional investors own 90.96% of the company’s stock.

Vertex Pharmaceuticals Stock Performance

VRTX stock opened at $393.21 on Tuesday. The stock has a market cap of $100.82 billion, a P/E ratio of 28.11 and a beta of 0.44. The firm has a 50 day simple moving average of $421.34 and a 200 day simple moving average of $452.63. Vertex Pharmaceuticals Incorporated has a 52 week low of $362.50 and a 52 week high of $519.88.

Vertex Pharmaceuticals (NASDAQ:VRTX) 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 during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same period last year, the company posted ($12.83) earnings per share. Vertex Pharmaceuticals has set its FY 2025 guidance at EPS. Sell-side analysts predict that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current year.

Analyst Upgrades and Downgrades

VRTX has been the subject of several research reports. Wells Fargo & Company upgraded shares of Vertex Pharmaceuticals from an “equal weight” rating to an “overweight” rating and set a $460.00 price objective for the company in a research report on Wednesday, August 6th. Cantor Fitzgerald reduced their price objective on shares of Vertex Pharmaceuticals from $535.00 to $485.00 and set an “overweight” rating for the company in a research report on Tuesday, August 5th. Stifel Nicolaus reduced their price objective on shares of Vertex Pharmaceuticals from $494.00 to $455.00 and set a “hold” rating for the company in a research report on Tuesday, August 5th. HC Wainwright reduced their price objective on shares of Vertex Pharmaceuticals from $550.00 to $478.00 and set a “buy” rating for the company in a research report on Tuesday, August 5th. Finally, Evercore ISI reduced their price objective on shares of Vertex Pharmaceuticals from $510.00 to $475.00 and set an “outperform” rating for the company in a research report on Thursday, September 11th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and thirteen have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $496.05.

Insider Activity at Vertex Pharmaceuticals

In related news, Director Bruce I. Sachs purchased 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 6th. The stock was acquired at an average cost of $389.68 per share, for a total transaction of $1,948,400.00. Following the completion of the acquisition, the director owned 45,000 shares in the company, valued at $17,535,600. This trade represents a 12.50% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate 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.