Camden National Bank Sells 204 Shares of Vertex Pharmaceuticals Incorporated $VRTX

Camden National Bank decreased its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 1.0% during the 2nd quarter, Holdings Channel reports. The firm owned 20,462 shares of the pharmaceutical company’s stock after selling 204 shares during the quarter. Camden National Bank’s holdings in Vertex Pharmaceuticals were worth $9,110,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in VRTX. Activest Wealth Management bought a new stake in Vertex Pharmaceuticals during the first quarter worth about $25,000. Clal Insurance Enterprises Holdings Ltd boosted its holdings in shares of Vertex Pharmaceuticals by 450.0% in the 1st 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 in the last quarter. Access Investment Management LLC bought a new stake in Vertex Pharmaceuticals during the 2nd quarter worth approximately $27,000. Flaharty Asset Management LLC acquired a new stake in Vertex Pharmaceuticals during the 1st quarter valued at $32,000. Finally, Legacy Investment Solutions LLC bought a new position in Vertex Pharmaceuticals in the 2nd quarter valued at $29,000. 90.96% of the stock is owned by institutional investors.

Insider Buying and Selling at Vertex Pharmaceuticals

In other news, Chairman Jeffrey M. Leiden sold 53,604 shares of the firm’s stock in a transaction on Friday, November 14th. The stock was sold at an average price of $440.72, for a total value of $23,624,354.88. Following the transaction, the chairman directly owned 24,026 shares in the company, valued at $10,588,738.72. This trade represents a 69.05% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.20% of the stock is currently owned by company insiders.

Vertex Pharmaceuticals Trading Up 1.1%

Shares of NASDAQ VRTX opened at $426.76 on Friday. Vertex Pharmaceuticals Incorporated has a 1 year low of $362.50 and a 1 year high of $519.68. The firm’s 50-day moving average is $411.39 and its 200-day moving average is $425.24. The firm has a market capitalization of $108.28 billion, a PE ratio of 30.50 and a beta of 0.36.

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

Analysts Set New Price Targets

Several analysts have recently commented on the company. Morgan Stanley decreased their target price on Vertex Pharmaceuticals from $439.00 to $438.00 and set an “equal weight” rating on the stock in a report on Friday, October 10th. Leerink Partners raised shares of Vertex Pharmaceuticals from a “market perform” rating to an “outperform” rating and decreased their price objective for the stock from $458.00 to $456.00 in a report on Thursday, September 25th. UBS Group dropped their target price on shares of Vertex Pharmaceuticals from $553.00 to $546.00 and set a “buy” rating for the company in a research note on Friday, November 7th. Royal Bank Of Canada reduced their target price on shares of Vertex Pharmaceuticals from $423.00 to $415.00 and set a “sector perform” rating on the stock in a research report on Tuesday, November 4th. Finally, Evercore ISI lowered their price target 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. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and eleven have assigned a Hold rating to the stock. According to data from MarketBeat, Vertex Pharmaceuticals has an average rating of “Moderate Buy” and a consensus price target of $491.95.

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.