Cumberland Partners Ltd Sells 177 Shares of Vertex Pharmaceuticals Incorporated $VRTX

Cumberland Partners Ltd decreased its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 0.4% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 46,570 shares of the pharmaceutical company’s stock after selling 177 shares during the quarter. Vertex Pharmaceuticals makes up about 1.4% of Cumberland Partners Ltd’s investment portfolio, making the stock its 22nd largest position. Cumberland Partners Ltd’s holdings in Vertex Pharmaceuticals were worth $20,733,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently bought and sold shares of the company. Activest Wealth Management acquired a new stake in Vertex Pharmaceuticals during the 1st quarter worth approximately $25,000. Clal Insurance Enterprises Holdings Ltd grew its stake in Vertex Pharmaceuticals by 450.0% in the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 55 shares of the pharmaceutical company’s stock valued at $27,000 after purchasing an additional 45 shares during the period. Access Investment Management LLC bought a new position in Vertex Pharmaceuticals during the second quarter valued at about $27,000. Flaharty Asset Management LLC purchased a new stake in Vertex Pharmaceuticals during the first quarter worth about $32,000. Finally, Legacy Investment Solutions LLC bought a new position in Vertex Pharmaceuticals during the second quarter valued at $29,000. Institutional investors and hedge funds own 90.96% of the company’s stock.

Insider Buying and Selling

In other news, Chairman Jeffrey M. Leiden sold 53,604 shares of the company’s stock in a transaction dated Friday, November 14th. The shares were sold at an average price of $440.72, for a total transaction of $23,624,354.88. Following the transaction, the chairman owned 24,026 shares in the company, valued at $10,588,738.72. This represents a 69.05% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.20% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Royal Bank Of Canada reduced their price objective on shares of Vertex Pharmaceuticals from $423.00 to $415.00 and set a “sector perform” rating for the company in a research note on Tuesday, November 4th. Scotiabank began coverage on shares of Vertex Pharmaceuticals in a research note on Thursday, November 13th. They issued a “sector outperform” rating and a $495.00 price objective for the company. Cantor Fitzgerald cut their target price on Vertex Pharmaceuticals from $535.00 to $485.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 5th. JPMorgan Chase & Co. boosted their price target on shares of Vertex Pharmaceuticals from $517.00 to $530.00 and gave the company an “overweight” rating in a research report on Wednesday, October 8th. Finally, Citigroup increased their price target on shares of Vertex Pharmaceuticals from $550.00 to $575.00 and gave the stock a “buy” rating in a research note on Thursday, October 2nd. Two research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and eleven have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $491.95.

Vertex Pharmaceuticals Price Performance

Vertex Pharmaceuticals stock opened at $421.03 on Thursday. The stock has a market cap of $106.82 billion, a P/E ratio of 30.10 and a beta of 0.36. The firm’s 50 day moving average price is $410.25 and its 200-day moving average price is $425.78. Vertex Pharmaceuticals Incorporated has a 1 year low of $362.50 and a 1 year high of $519.68.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its earnings results on Monday, November 3rd. The pharmaceutical company reported $4.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.58 by $0.22. Vertex Pharmaceuticals had a net margin of 31.86% and a return on equity of 23.91%. The firm had revenue of $3.08 billion for the quarter, compared to analysts’ expectations of $3.05 billion. During the same period in the prior year, the company earned $4.38 EPS. The business’s revenue was up 11.0% compared to the same quarter last year. Vertex Pharmaceuticals has set its FY 2025 guidance at EPS. As a group, equities analysts expect that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current year.

Vertex Pharmaceuticals 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.