TD Private Client Wealth LLC Trims Stock Position in Vertex Pharmaceuticals Incorporated $VRTX

TD Private Client Wealth LLC reduced its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 33.8% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 4,118 shares of the pharmaceutical company’s stock after selling 2,107 shares during the quarter. TD Private Client Wealth LLC’s holdings in Vertex Pharmaceuticals were worth $1,833,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. Activest Wealth Management acquired a new stake in shares of Vertex Pharmaceuticals during the first quarter valued at $25,000. Clal Insurance Enterprises Holdings Ltd boosted its position in Vertex Pharmaceuticals by 450.0% during the 1st 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. purchased a new stake in shares of Vertex Pharmaceuticals during the fourth quarter valued at approximately $31,000. Flaharty Asset Management LLC acquired a new stake in shares of Vertex Pharmaceuticals during the first quarter valued at about $32,000. Finally, SJS Investment Consulting Inc. increased its stake in shares of Vertex Pharmaceuticals by 46.2% in the first quarter. SJS Investment Consulting Inc. now owns 95 shares of the pharmaceutical company’s stock worth $46,000 after buying an additional 30 shares during the last quarter. 90.96% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Stifel Nicolaus dropped 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. HC Wainwright dropped their price target on Vertex Pharmaceuticals from $550.00 to $478.00 and set a “buy” rating on the stock in a research note on Tuesday, August 5th. Canaccord Genuity Group reduced their price target 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. Evercore ISI decreased their target price 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. Finally, Leerink Partners raised shares of Vertex Pharmaceuticals from a “market perform” rating to an “outperform” rating and decreased their price objective for the stock from $458.00 to $456.00 in a report on Thursday. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and twelve have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $493.81.

Vertex Pharmaceuticals Price Performance

Shares of VRTX stock opened at $381.87 on Friday. The stock has a 50-day moving average of $407.48 and a 200-day moving average of $447.31. The stock has a market cap of $97.91 billion, a PE ratio of 27.30 and a beta of 0.44. Vertex Pharmaceuticals Incorporated has a one year low of $362.50 and a one year high of $519.88.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings data on Monday, August 4th. The pharmaceutical company reported $4.52 EPS for the quarter, topping analysts’ consensus estimates of $4.24 by $0.28. Vertex Pharmaceuticals had a net margin of 31.86% and a return on equity of 23.91%. The business had revenue of $2.94 billion for the quarter, compared to analyst estimates of $2.90 billion. During the same period last year, the business posted ($12.83) earnings per share. The firm’s quarterly revenue was up 11.3% on a year-over-year basis. 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 year.

Insiders Place Their Bets

In other Vertex Pharmaceuticals news, Director Bruce I. Sachs purchased 5,000 shares of the stock in a transaction that occurred on Wednesday, August 6th. The shares were acquired at an average cost of $389.68 per share, with a total value of $1,948,400.00. Following the completion of 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 Securities & Exchange Commission, which is accessible through the SEC website. 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.