IFP Advisors Inc Cuts Stock Holdings in Vertex Pharmaceuticals Incorporated $VRTX

IFP Advisors Inc trimmed its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 40.3% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,590 shares of the pharmaceutical company’s stock after selling 1,074 shares during the period. IFP Advisors Inc’s holdings in Vertex Pharmaceuticals were worth $708,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Activest Wealth Management bought a new position in Vertex Pharmaceuticals during the first quarter valued at $25,000. Clal Insurance Enterprises Holdings Ltd lifted its position in Vertex Pharmaceuticals by 450.0% during the first 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 last quarter. Flaharty Asset Management LLC bought a new position in Vertex Pharmaceuticals during the first quarter valued at $32,000. American National Bank & Trust lifted its position in Vertex Pharmaceuticals by 515.4% during the second quarter. American National Bank & Trust now owns 80 shares of the pharmaceutical company’s stock valued at $36,000 after purchasing an additional 67 shares during the last quarter. Finally, University of Texas Texas AM Investment Management Co. bought a new position in Vertex Pharmaceuticals during the first quarter valued at $46,000. Institutional investors own 90.96% of the company’s stock.

Vertex Pharmaceuticals Price Performance

Shares of VRTX opened at $407.37 on Tuesday. Vertex Pharmaceuticals Incorporated has a 1-year low of $362.50 and a 1-year high of $519.88. The company has a 50-day moving average of $392.61 and a 200 day moving average of $438.14. The firm has a market capitalization of $104.45 billion, a price-to-earnings ratio of 29.12 and a beta of 0.43.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its 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 the consensus estimate 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 last year, the firm posted ($12.83) EPS. Vertex Pharmaceuticals has set its FY 2025 guidance at EPS. On average, equities analysts anticipate that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Vertex Pharmaceuticals news, Director Bruce I. Sachs bought 5,000 shares of the business’s stock in a transaction on Wednesday, August 6th. The shares were acquired at an average price of $389.68 per share, with a total value of $1,948,400.00. Following the transaction, the director owned 45,000 shares of the company’s stock, valued at approximately $17,535,600. This trade represents a 12.50% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.20% of the company’s stock.

Analyst Upgrades and Downgrades

VRTX has been the subject of several research reports. Leerink Partnrs upgraded shares of Vertex Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a research report on Thursday, September 25th. BMO Capital Markets set a $530.00 price objective on shares of Vertex Pharmaceuticals and gave the company an “outperform” rating in a research report on Tuesday, August 5th. UBS Group set a $553.00 target price on shares of Vertex Pharmaceuticals and gave the stock a “buy” rating in a report on Tuesday, August 5th. Evercore ISI lowered their target price on shares of Vertex Pharmaceuticals from $510.00 to $475.00 and set an “outperform” rating for the company in a report on Thursday, September 11th. Finally, Canaccord Genuity Group lowered their target price on shares of Vertex Pharmaceuticals from $424.00 to $411.00 and set a “hold” rating for the company in a report on Wednesday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and twelve have given a Hold rating to the stock. Based on data from MarketBeat, Vertex Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average price target of $494.38.

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.