Bay Colony Advisory Group Inc d b a Bay Colony Advisors Reduces Stock Position in Vertex Pharmaceuticals Incorporated $VRTX

Bay Colony Advisory Group Inc d b a Bay Colony Advisors cut its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 6.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,240 shares of the pharmaceutical company’s stock after selling 87 shares during the period. Bay Colony Advisory Group Inc d b a Bay Colony Advisors’ holdings in Vertex Pharmaceuticals were worth $552,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of VRTX. Price T Rowe Associates Inc. MD lifted its holdings 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 buying an additional 1,226,527 shares during the period. Jennison Associates LLC lifted its holdings in shares of Vertex Pharmaceuticals by 21.5% during the 2nd quarter. Jennison Associates LLC now owns 6,151,505 shares of the pharmaceutical company’s stock valued at $2,738,650,000 after buying an additional 1,089,063 shares during the period. Nuveen LLC bought a new position in shares of Vertex Pharmaceuticals during the 1st quarter valued at $484,053,000. Goldman Sachs Group Inc. lifted its holdings 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 buying an additional 398,460 shares during the period. Finally, Alyeska Investment Group L.P. lifted its holdings in shares of 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 valued at $209,347,000 after buying an additional 354,269 shares during the period. 90.96% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Bruce I. Sachs bought 5,000 shares of Vertex Pharmaceuticals stock in a transaction dated Wednesday, August 6th. The shares were purchased at an average cost of $389.68 per share, with a total value of $1,948,400.00. Following the completion of the acquisition, the director owned 45,000 shares of the company’s stock, valued at $17,535,600. This trade represents a 12.50% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.20% of the company’s stock.

Vertex Pharmaceuticals Stock Up 1.4%

NASDAQ:VRTX opened at $425.57 on Friday. The business’s 50-day simple moving average is $401.71 and its two-hundred day simple moving average is $432.43. The stock has a market cap of $109.11 billion, a PE ratio of 30.42 and a beta of 0.43. 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, beating analysts’ consensus estimates of $4.24 by $0.28. The business had revenue of $2.94 billion for the quarter, compared to analysts’ expectations of $2.90 billion. Vertex Pharmaceuticals had a return on equity of 23.91% and a net margin of 31.86%.The business’s quarterly revenue was up 11.3% on a year-over-year basis. During the same period last year, the firm earned ($12.83) earnings per share. Vertex Pharmaceuticals has set its FY 2025 guidance at EPS. Sell-side analysts anticipate that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current fiscal year.

Analysts Set New Price Targets

VRTX has been the topic of several research analyst reports. Stifel Nicolaus lowered their price target on Vertex Pharmaceuticals from $494.00 to $455.00 and set a “hold” rating on the stock in a report on Tuesday, August 5th. Scotiabank decreased their target price on Vertex Pharmaceuticals from $442.00 to $438.00 and set a “sector perform” rating on the stock in a report on Tuesday, August 5th. Wells Fargo & Company raised Vertex Pharmaceuticals from an “equal weight” rating to an “overweight” rating and set a $460.00 target price on the stock in a report on Wednesday, August 6th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Vertex Pharmaceuticals in a report on Wednesday, October 8th. Finally, Royal Bank Of Canada decreased their target price on Vertex Pharmaceuticals from $430.00 to $405.00 and set a “sector perform” rating on the stock in a report on Tuesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and twelve have assigned a Hold rating to the stock. According to data from MarketBeat, Vertex Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average target price of $492.10.

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.