1858 Wealth Management LLC Decreases Holdings in Vertex Pharmaceuticals Incorporated $VRTX

1858 Wealth Management LLC trimmed its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 13.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,463 shares of the pharmaceutical company’s stock after selling 375 shares during the period. 1858 Wealth Management LLC’s holdings in Vertex Pharmaceuticals were worth $1,097,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in VRTX. Price T Rowe Associates Inc. MD boosted its position in 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 worth $1,414,331,000 after purchasing an additional 1,226,527 shares during the period. Nuveen LLC purchased a new stake in Vertex Pharmaceuticals during the 1st quarter worth $484,053,000. Jennison Associates LLC boosted its position in Vertex Pharmaceuticals by 17.2% during the 1st quarter. Jennison Associates LLC now owns 5,062,442 shares of the pharmaceutical company’s stock worth $2,454,373,000 after purchasing an additional 744,680 shares during the period. Goldman Sachs Group Inc. boosted its position in 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 worth $860,650,000 after purchasing an additional 398,460 shares during the period. Finally, Alyeska Investment Group L.P. boosted its position in Vertex Pharmaceuticals by 456.9% during the 1st quarter. Alyeska Investment Group L.P. now owns 431,804 shares of the pharmaceutical company’s stock worth $209,347,000 after purchasing an additional 354,269 shares during the period. 90.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have commented on VRTX. Cantor Fitzgerald cut their price objective on shares of Vertex Pharmaceuticals from $535.00 to $485.00 and set an “overweight” rating on the stock in a report on Tuesday, August 5th. Royal Bank Of Canada cut their price objective on shares of Vertex Pharmaceuticals from $430.00 to $405.00 and set a “sector perform” rating on the stock in a report on Tuesday, August 5th. BMO Capital Markets set a $530.00 price objective on shares of Vertex Pharmaceuticals and gave the stock an “outperform” rating in a report on Tuesday, August 5th. Evercore ISI cut their price objective on shares of Vertex Pharmaceuticals from $510.00 to $475.00 and set an “outperform” rating on the stock in a report on Thursday, September 11th. Finally, Wells Fargo & Company upgraded shares of Vertex Pharmaceuticals from an “equal weight” rating to an “overweight” rating and set a $460.00 price objective on the stock in a report on Wednesday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and twelve have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $494.38.

Insider Activity

In related news, Director Bruce I. Sachs bought 5,000 shares of the business’s stock in a transaction dated Wednesday, August 6th. The shares were acquired at an average price of $389.68 per share, for a total transaction of $1,948,400.00. Following the purchase, 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 transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.20% of the company’s stock.

Vertex Pharmaceuticals Stock Performance

Shares of Vertex Pharmaceuticals stock opened at $407.79 on Friday. The firm has a market cap of $104.55 billion, a PE ratio of 29.15 and a beta of 0.43. The firm’s 50-day simple moving average is $393.91 and its 200-day simple moving average is $439.18. Vertex Pharmaceuticals Incorporated has a 1 year low of $362.50 and a 1 year high of $519.88.

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

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.