Quadrant Capital Group LLC Trims Position in Vertex Pharmaceuticals Incorporated $VRTX

Quadrant Capital Group LLC decreased its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 4.4% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,105 shares of the pharmaceutical company’s stock after selling 233 shares during the quarter. Quadrant Capital Group LLC’s holdings in Vertex Pharmaceuticals were worth $2,273,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Costello Asset Management INC boosted its stake in Vertex Pharmaceuticals by 3.6% in the 2nd quarter. Costello Asset Management INC now owns 689 shares of the pharmaceutical company’s stock worth $307,000 after buying an additional 24 shares during the last quarter. Kovack Advisors Inc. lifted its holdings in shares of Vertex Pharmaceuticals by 1.9% during the 2nd quarter. Kovack Advisors Inc. now owns 1,280 shares of the pharmaceutical company’s stock worth $570,000 after acquiring an additional 24 shares during the period. Newman Dignan & Sheerar Inc. boosted its position in shares of Vertex Pharmaceuticals by 3.3% in the second quarter. Newman Dignan & Sheerar Inc. now owns 786 shares of the pharmaceutical company’s stock worth $350,000 after acquiring an additional 25 shares during the last quarter. Eastern Bank boosted its position in shares of Vertex Pharmaceuticals by 1.6% in the second quarter. Eastern Bank now owns 1,635 shares of the pharmaceutical company’s stock worth $728,000 after acquiring an additional 25 shares during the last quarter. Finally, Washington Trust Advisors Inc. grew its holdings in Vertex Pharmaceuticals by 8.4% in the second quarter. Washington Trust Advisors Inc. now owns 323 shares of the pharmaceutical company’s stock valued at $144,000 after purchasing an additional 25 shares during the period. 90.96% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Vertex Pharmaceuticals

In other news, Chairman Jeffrey M. Leiden sold 53,604 shares of the company’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 approximately $10,588,738.72. This represents a 69.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.20% of the company’s stock.

Analyst Upgrades and Downgrades

VRTX has been the topic of a number of recent analyst reports. HC Wainwright cut their price target on shares of Vertex Pharmaceuticals from $550.00 to $478.00 and set a “buy” rating on the stock in a research note on Tuesday, August 5th. Stifel Nicolaus reduced their target price on Vertex Pharmaceuticals from $455.00 to $445.00 and set a “hold” rating on the stock in a report on Tuesday, November 4th. Canaccord Genuity Group lowered their price target on Vertex Pharmaceuticals from $424.00 to $411.00 and set a “hold” rating for the company in a research report on Wednesday, August 6th. JPMorgan Chase & Co. raised their price objective on Vertex Pharmaceuticals from $517.00 to $530.00 and gave the stock an “overweight” rating in a report on Wednesday, October 8th. Finally, 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. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and eleven have given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $491.95.

Vertex Pharmaceuticals Stock Performance

VRTX stock opened at $432.17 on Friday. The firm has a market cap of $109.65 billion, a P/E ratio of 30.89 and a beta of 0.36. Vertex Pharmaceuticals Incorporated has a 1 year low of $362.50 and a 1 year high of $519.68. The stock has a 50-day simple moving average of $414.58 and a 200-day simple moving average of $425.09.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its quarterly 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% on a year-over-year basis. During the same period in the previous year, the company posted $4.38 EPS. Vertex Pharmaceuticals has set its FY 2025 guidance at EPS. On average, equities research analysts predict 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.