Vertex Pharmaceuticals Incorporated $VRTX Shares Sold by Procyon Advisors LLC

Procyon Advisors LLC lessened its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 76.2% during the second quarter, HoldingsChannel.com reports. The firm owned 4,428 shares of the pharmaceutical company’s stock after selling 14,170 shares during the period. Procyon Advisors LLC’s holdings in Vertex Pharmaceuticals were worth $1,971,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of VRTX. Activest Wealth Management acquired a new stake in shares of Vertex Pharmaceuticals in the 1st quarter valued at about $25,000. Clal Insurance Enterprises Holdings Ltd raised its stake 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 in the last quarter. Mascagni Wealth Management Inc. acquired a new stake in shares of Vertex Pharmaceuticals in the 4th quarter valued at about $31,000. Flaharty Asset Management LLC acquired a new stake in shares of Vertex Pharmaceuticals in the 1st quarter valued at about $32,000. Finally, Mpwm Advisory Solutions LLC bought a new stake in shares of Vertex Pharmaceuticals during the 4th quarter valued at about $40,000. Institutional investors and hedge funds own 90.96% of the company’s stock.

Insider Activity at Vertex Pharmaceuticals

In other news, Director Bruce I. Sachs purchased 5,000 shares of Vertex Pharmaceuticals stock in a transaction that occurred on Wednesday, August 6th. The stock was acquired at an average price of $389.68 per share, for a total transaction of $1,948,400.00. Following the transaction, the director owned 45,000 shares in the company, valued at $17,535,600. The trade was a 12.50% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.20% of the company’s stock.

Vertex Pharmaceuticals Stock Performance

Shares of NASDAQ:VRTX opened at $391.36 on Wednesday. The company has a market cap of $100.34 billion, a PE ratio of 27.97 and a beta of 0.44. Vertex Pharmaceuticals Incorporated has a 52 week low of $362.50 and a 52 week high of $519.88. The firm has a 50 day simple moving average of $419.84 and a 200 day simple moving average of $452.20.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings results on Monday, August 4th. The pharmaceutical company reported $4.52 EPS for the quarter, beating the consensus estimate of $4.24 by $0.28. The business had revenue of $2.94 billion during the quarter, compared to the consensus estimate 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 in the prior year, the firm earned ($12.83) EPS. Vertex Pharmaceuticals has set its FY 2025 guidance at EPS. On average, equities analysts predict that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current year.

Wall Street Analysts Forecast Growth

VRTX has been the subject of a number of recent research reports. Royal Bank Of Canada lowered their price objective on shares of Vertex Pharmaceuticals from $430.00 to $405.00 and set a “sector perform” rating for the company in a research report on Tuesday, August 5th. Erste Group Bank downgraded shares of Vertex Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 23rd. Morgan Stanley set a $439.00 price objective on shares of Vertex Pharmaceuticals and gave the company an “equal weight” rating in a research report on Tuesday, August 5th. Wells Fargo & Company raised 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. Finally, Canaccord Genuity Group lowered their price objective on shares of Vertex Pharmaceuticals from $424.00 to $411.00 and set a “hold” rating for the company in a research report on Wednesday, August 6th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and thirteen have assigned a Hold rating to the stock. According to MarketBeat, Vertex Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus price target of $496.05.

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.