Massachusetts Wealth Management Sells 37 Shares of Vertex Pharmaceuticals Incorporated $VRTX

Massachusetts Wealth Management trimmed its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 6.2% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 560 shares of the pharmaceutical company’s stock after selling 37 shares during the quarter. Massachusetts Wealth Management’s holdings in Vertex Pharmaceuticals were worth $249,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in VRTX. Price T Rowe Associates Inc. MD lifted its holdings in shares of Vertex Pharmaceuticals by 72.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,917,227 shares of the pharmaceutical company’s stock worth $1,414,331,000 after acquiring an additional 1,226,527 shares during the last quarter. Nuveen LLC purchased a new position in shares of Vertex Pharmaceuticals in the first quarter worth $484,053,000. Jennison Associates LLC increased its stake in shares of Vertex Pharmaceuticals by 17.2% in the first quarter. Jennison Associates LLC now owns 5,062,442 shares of the pharmaceutical company’s stock worth $2,454,373,000 after buying an additional 744,680 shares during the period. Goldman Sachs Group Inc. increased its stake in shares of Vertex Pharmaceuticals by 28.9% in the first quarter. Goldman Sachs Group Inc. now owns 1,775,194 shares of the pharmaceutical company’s stock worth $860,650,000 after buying an additional 398,460 shares during the period. Finally, Alyeska Investment Group L.P. increased its stake in shares of Vertex Pharmaceuticals by 456.9% in the first quarter. Alyeska Investment Group L.P. now owns 431,804 shares of the pharmaceutical company’s stock worth $209,347,000 after buying an additional 354,269 shares during the period. 90.96% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently commented on VRTX shares. Wall Street Zen downgraded shares of Vertex Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Friday, August 22nd. UBS Group set a $553.00 target price on shares of Vertex Pharmaceuticals and gave the stock a “buy” rating in a research note on Tuesday, August 5th. Leerink Partnrs raised shares of Vertex Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a research note on Thursday, September 25th. Leerink Partners raised shares of Vertex Pharmaceuticals from a “market perform” rating to an “outperform” rating and decreased their target price for the stock from $458.00 to $456.00 in a research note on Thursday, September 25th. Finally, Scotiabank decreased their target price on shares of Vertex Pharmaceuticals from $442.00 to $438.00 and set a “sector perform” rating on the stock in a research note on Tuesday, August 5th. One investment 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 stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $494.43.

Vertex Pharmaceuticals Trading Up 2.6%

Shares of Vertex Pharmaceuticals stock opened at $421.15 on Thursday. The company’s fifty day simple moving average is $395.83 and its two-hundred day simple moving average is $440.97. The company has a market cap of $107.98 billion, a P/E ratio of 30.10 and a beta of 0.43. Vertex Pharmaceuticals Incorporated has a 12-month low of $362.50 and a 12-month high of $519.88.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings data on Monday, August 4th. The pharmaceutical company reported $4.52 earnings per share (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 quarterly revenue was up 11.3% compared to the same quarter last year. During the same period in the previous year, the firm earned ($12.83) EPS. Vertex Pharmaceuticals has set its FY 2025 guidance at EPS. Analysts predict that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current fiscal year.

Insider Buying and Selling at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals 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 transaction, the director directly owned 45,000 shares of the company’s stock, valued at $17,535,600. This represents a 12.50% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.20% of the stock is 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.