Checchi Capital Advisers LLC Has $799,000 Stake in Vertex Pharmaceuticals Incorporated $VRTX

Checchi Capital Advisers LLC decreased its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 2.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,794 shares of the pharmaceutical company’s stock after selling 41 shares during the period. Checchi Capital Advisers LLC’s holdings in Vertex Pharmaceuticals were worth $799,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. United Services Automobile Association purchased a new stake in shares of Vertex Pharmaceuticals during the 1st quarter worth about $2,933,000. Lee Johnson Capital Management LLC purchased a new stake in shares of Vertex Pharmaceuticals during the 2nd quarter worth about $721,000. Aries Wealth Management purchased a new stake in shares of Vertex Pharmaceuticals during the 1st quarter worth about $293,000. Moody Lynn & Lieberson LLC raised its stake in shares of Vertex Pharmaceuticals by 1.4% during the 2nd quarter. Moody Lynn & Lieberson LLC now owns 58,077 shares of the pharmaceutical company’s stock worth $25,856,000 after purchasing an additional 822 shares in the last quarter. Finally, New England Research & Management Inc. purchased a new stake in shares of Vertex Pharmaceuticals during the 2nd quarter worth about $472,000. Institutional investors and hedge funds own 90.96% of the company’s stock.

Vertex Pharmaceuticals Trading Down 1.4%

Shares of NASDAQ:VRTX opened at $403.30 on Monday. Vertex Pharmaceuticals Incorporated has a 1-year low of $362.50 and a 1-year high of $519.88. The firm has a market capitalization of $103.40 billion, a PE ratio of 28.83 and a beta of 0.43. The business’s 50 day moving average is $399.12 and its 200-day moving average is $442.02.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings data on Monday, August 4th. The pharmaceutical company reported $4.52 earnings per share for the quarter, topping the consensus estimate of $4.24 by $0.28. Vertex Pharmaceuticals had a return on equity of 23.91% and a net margin of 31.86%.The company had revenue of $2.94 billion for the quarter, compared to analyst estimates of $2.90 billion. During the same quarter last year, the firm earned ($12.83) EPS. Vertex Pharmaceuticals’s revenue for the quarter was up 11.3% compared to the same quarter last year. Vertex Pharmaceuticals has set its FY 2025 guidance at EPS. On average, sell-side analysts predict that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have recently weighed in on VRTX. Canaccord Genuity Group cut their price target on Vertex Pharmaceuticals from $424.00 to $411.00 and set a “hold” rating for the company in a research note on Wednesday, August 6th. HC Wainwright cut their price target on Vertex Pharmaceuticals from $550.00 to $478.00 and set a “buy” rating for the company in a research note on Tuesday, August 5th. Scotiabank cut their price objective on Vertex Pharmaceuticals from $442.00 to $438.00 and set a “sector perform” rating on the stock in a research note on Tuesday, August 5th. UBS Group set a $553.00 price objective on Vertex Pharmaceuticals and gave the company a “buy” rating in a research note on Tuesday, August 5th. Finally, Evercore ISI cut their price objective on Vertex Pharmaceuticals from $510.00 to $475.00 and set an “outperform” rating on the stock in a research note on Thursday, September 11th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $493.81.

Insider Buying and Selling

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 shares were acquired at an average price of $389.68 per share, with a total value of $1,948,400.00. Following the purchase, the director directly owned 45,000 shares in the company, valued at $17,535,600. This represents a 12.50% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.20% of the stock is currently owned by corporate insiders.

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.