Vertex Pharmaceuticals Incorporated $VRTX Shares Sold by Te Ahumairangi Investment Management Ltd

Te Ahumairangi Investment Management Ltd lessened its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 34.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 5,985 shares of the pharmaceutical company’s stock after selling 3,133 shares during the quarter. Te Ahumairangi Investment Management Ltd’s holdings in Vertex Pharmaceuticals were worth $2,665,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of VRTX. Activest Wealth Management acquired a new stake in Vertex Pharmaceuticals in the 1st quarter worth approximately $25,000. Clal Insurance Enterprises Holdings Ltd increased its stake in Vertex Pharmaceuticals by 450.0% during 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 in the last quarter. Access Investment Management LLC purchased a new position in shares of Vertex Pharmaceuticals in the second quarter worth $27,000. Legacy Investment Solutions LLC purchased a new position in shares of Vertex Pharmaceuticals in the second quarter worth $29,000. Finally, Flaharty Asset Management LLC acquired a new stake in shares of Vertex Pharmaceuticals during the first quarter worth $32,000. Institutional investors and hedge funds own 90.96% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on VRTX shares. JPMorgan Chase & Co. upped their target price on Vertex Pharmaceuticals from $517.00 to $530.00 and gave the company an “overweight” rating in a research report on Wednesday, October 8th. Barclays boosted their price target on Vertex Pharmaceuticals from $408.00 to $414.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 4th. UBS Group reduced their price objective on Vertex Pharmaceuticals from $553.00 to $546.00 and set a “buy” rating for the company in a research note on Friday, November 7th. Guggenheim decreased their target price on Vertex Pharmaceuticals from $558.00 to $546.00 and set a “buy” rating for the company in a report on Wednesday, August 6th. Finally, Cantor Fitzgerald dropped their target price on Vertex Pharmaceuticals from $535.00 to $485.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 5th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and eleven have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $491.95.

Insider Activity at Vertex Pharmaceuticals

In related news, Chairman Jeffrey M. Leiden sold 53,604 shares of the business’s stock in a transaction on Friday, November 14th. The shares were sold at an average price of $440.72, for a total value of $23,624,354.88. Following the completion of the transaction, the chairman directly owned 24,026 shares in the company, valued at $10,588,738.72. The trade was a 69.05% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.20% of the stock is owned by insiders.

Vertex Pharmaceuticals Stock Performance

NASDAQ VRTX opened at $432.17 on Thursday. The firm has a market capitalization of $109.65 billion, a P/E ratio of 30.89 and a beta of 0.36. The stock has a 50-day simple moving average of $413.68 and a two-hundred day simple moving average of $425.04. Vertex Pharmaceuticals Incorporated has a fifty-two week low of $362.50 and a fifty-two week high of $519.68.

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