Vertex Pharmaceuticals Incorporated $VRTX Position Reduced by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. trimmed its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 0.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 21,488 shares of the pharmaceutical company’s stock after selling 206 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Vertex Pharmaceuticals were worth $9,566,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC raised its holdings in shares of Vertex Pharmaceuticals by 15.0% during the fourth quarter. Brighton Jones LLC now owns 4,427 shares of the pharmaceutical company’s stock worth $1,783,000 after purchasing an additional 579 shares during the period. GAMMA Investing LLC increased its holdings in shares of Vertex Pharmaceuticals by 25.1% in the 1st quarter. GAMMA Investing LLC now owns 5,002 shares of the pharmaceutical company’s stock worth $2,425,000 after acquiring an additional 1,005 shares during the period. Perpetual Ltd acquired a new stake in shares of Vertex Pharmaceuticals in the 1st quarter worth about $302,000. Diversified Trust Co increased its stake in Vertex Pharmaceuticals by 17.7% during the 1st quarter. Diversified Trust Co now owns 632 shares of the pharmaceutical company’s stock valued at $306,000 after buying an additional 95 shares during the period. Finally, Bartlett & CO. Wealth Management LLC increased its stake in Vertex Pharmaceuticals by 64.4% during the 1st quarter. Bartlett & CO. Wealth Management LLC now owns 587 shares of the pharmaceutical company’s stock valued at $285,000 after buying an additional 230 shares during the period. 90.96% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on VRTX shares. Cantor Fitzgerald reduced their price objective on shares of Vertex Pharmaceuticals from $535.00 to $485.00 and set an “overweight” rating for the company in a research report on Tuesday, August 5th. Leerink Partnrs upgraded shares of Vertex Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a report on Thursday, September 25th. Royal Bank Of Canada decreased their target price on shares of Vertex Pharmaceuticals from $430.00 to $405.00 and set a “sector perform” rating for the company in a report on Tuesday, August 5th. Scotiabank decreased their target price on shares of Vertex Pharmaceuticals from $442.00 to $438.00 and set a “sector perform” rating for the company in a report on Tuesday, August 5th. Finally, Guggenheim decreased their target price on shares of Vertex Pharmaceuticals from $558.00 to $546.00 and set a “buy” rating for the company in a report on Wednesday, August 6th. One 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. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $494.38.

Vertex Pharmaceuticals Stock Performance

Shares of VRTX opened at $421.39 on Monday. Vertex Pharmaceuticals Incorporated has a twelve month low of $362.50 and a twelve month high of $519.88. The firm has a market cap of $108.04 billion, a PE ratio of 30.12 and a beta of 0.43. The firm’s 50 day moving average price is $398.96 and its 200 day moving average price is $434.28.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released 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. Vertex Pharmaceuticals had a net margin of 31.86% and a return on equity of 23.91%. 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 posted ($12.83) earnings per share. The company’s quarterly revenue 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 anticipate that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current fiscal year.

Insider Activity at Vertex Pharmaceuticals

In other news, Director Bruce I. Sachs purchased 5,000 shares of the company’s stock in a transaction dated Wednesday, August 6th. The shares were bought at an average price of $389.68 per share, with a total value of $1,948,400.00. Following the completion of the transaction, the director directly owned 45,000 shares in the company, valued at $17,535,600. This trade represents a 12.50% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.20% of the stock is currently owned by corporate insiders.

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.