Simon Quick Advisors LLC Trims Stake in Vertex Pharmaceuticals Incorporated $VRTX

Simon Quick Advisors LLC cut its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 0.8% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,909 shares of the pharmaceutical company’s stock after selling 24 shares during the quarter. Simon Quick Advisors LLC’s holdings in Vertex Pharmaceuticals were worth $1,295,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Activest Wealth Management purchased a new position in shares of Vertex Pharmaceuticals during the first quarter worth approximately $25,000. Clal Insurance Enterprises Holdings Ltd increased its position in shares of Vertex Pharmaceuticals by 450.0% during the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 55 shares of the pharmaceutical company’s stock worth $27,000 after acquiring an additional 45 shares during the period. Flaharty Asset Management LLC bought a new position in shares of Vertex Pharmaceuticals during the 1st quarter worth $32,000. American National Bank & Trust grew its position in shares of Vertex Pharmaceuticals by 515.4% during the 2nd quarter. American National Bank & Trust now owns 80 shares of the pharmaceutical company’s stock worth $36,000 after buying an additional 67 shares in the last quarter. Finally, Solstein Capital LLC bought a new position in shares of Vertex Pharmaceuticals during the 2nd quarter worth $40,000. 90.96% of the stock is owned by hedge funds and other institutional investors.

Vertex Pharmaceuticals Stock Up 0.6%

Shares of VRTX stock opened at $419.89 on Friday. The firm has a market cap of $107.66 billion, a price-to-earnings ratio of 30.01 and a beta of 0.43. The company’s 50 day moving average is $401.10 and its 200 day moving average is $432.92. Vertex Pharmaceuticals Incorporated has a 52-week low of $362.50 and a 52-week high of $519.88.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its quarterly earnings results on Monday, August 4th. The pharmaceutical company reported $4.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.24 by $0.28. Vertex Pharmaceuticals had a net margin of 31.86% and a return on equity of 23.91%. The business had revenue of $2.94 billion for the quarter, compared to analyst estimates of $2.90 billion. During the same period in the previous year, the company earned ($12.83) earnings per share. The business’s revenue for the quarter was up 11.3% on a year-over-year basis. Vertex Pharmaceuticals has set its FY 2025 guidance at EPS. Analysts anticipate that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current fiscal year.

Insider Transactions at Vertex Pharmaceuticals

In other news, Director Bruce I. Sachs purchased 5,000 shares of the business’s stock in a transaction on Wednesday, August 6th. The shares were acquired at an average cost of $389.68 per share, with a total value of $1,948,400.00. Following the completion of the acquisition, the director owned 45,000 shares of the company’s stock, valued at $17,535,600. This trade represents a 12.50% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on VRTX. Leerink Partnrs raised Vertex Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a research report on Thursday, September 25th. Guggenheim dropped their price target on Vertex Pharmaceuticals from $558.00 to $546.00 and set a “buy” rating on the stock in a research report on Wednesday, August 6th. Leerink Partners raised Vertex Pharmaceuticals from a “market perform” rating to an “outperform” rating and dropped their price target for the stock from $458.00 to $456.00 in a research report on Thursday, September 25th. JPMorgan Chase & Co. lifted their price objective on shares of Vertex Pharmaceuticals from $517.00 to $530.00 and gave the company an “overweight” rating in a report on Wednesday, October 8th. Finally, Cantor Fitzgerald cut their price objective on shares of Vertex Pharmaceuticals from $535.00 to $485.00 and set an “overweight” rating on the stock in a report 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 issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $492.10.

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.