Cullinan Associates Inc. Has $23.16 Million Stock Position in Vertex Pharmaceuticals Incorporated $VRTX

Cullinan Associates Inc. lessened its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 2.1% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 52,012 shares of the pharmaceutical company’s stock after selling 1,100 shares during the quarter. Vertex Pharmaceuticals comprises 1.5% of Cullinan Associates Inc.’s investment portfolio, making the stock its 16th biggest position. Cullinan Associates Inc.’s holdings in Vertex Pharmaceuticals were worth $23,156,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Advisor OS LLC lifted its holdings in shares of Vertex Pharmaceuticals by 4.4% during the 1st quarter. Advisor OS LLC now owns 543 shares of the pharmaceutical company’s stock worth $263,000 after acquiring an additional 23 shares during the period. Avidian Wealth Enterprises LLC raised its position in Vertex Pharmaceuticals by 2.1% during the first quarter. Avidian Wealth Enterprises LLC now owns 1,225 shares of the pharmaceutical company’s stock valued at $594,000 after purchasing an additional 25 shares in the last quarter. Strategic Blueprint LLC lifted its stake in Vertex Pharmaceuticals by 1.7% during the first quarter. Strategic Blueprint LLC now owns 1,498 shares of the pharmaceutical company’s stock worth $726,000 after purchasing an additional 25 shares during the last quarter. Newman Dignan & Sheerar Inc. boosted its holdings in shares of Vertex Pharmaceuticals by 3.3% in the 2nd quarter. Newman Dignan & Sheerar Inc. now owns 786 shares of the pharmaceutical company’s stock valued at $350,000 after purchasing an additional 25 shares in the last quarter. Finally, Hager Investment Management Services LLC increased its stake in shares of Vertex Pharmaceuticals by 0.5% in the 1st quarter. Hager Investment Management Services LLC now owns 5,411 shares of the pharmaceutical company’s stock valued at $2,623,000 after purchasing an additional 27 shares during the last quarter. Institutional investors own 90.96% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Wells Fargo & Company raised Vertex Pharmaceuticals from an “equal weight” rating to an “overweight” rating and set a $460.00 price target for the company in a report on Wednesday, August 6th. HC Wainwright lowered their target price on Vertex Pharmaceuticals from $550.00 to $478.00 and set a “buy” rating for the company in a research note on Tuesday, August 5th. Morgan Stanley set a $439.00 target price on shares of Vertex Pharmaceuticals and gave the stock an “equal weight” rating in a report on Tuesday, August 5th. Truist Financial set a $490.00 price target on shares of Vertex Pharmaceuticals and gave the company a “buy” rating in a report on Tuesday, August 5th. Finally, Stifel Nicolaus lowered their price objective on shares of Vertex Pharmaceuticals from $494.00 to $455.00 and set a “hold” rating for the company in a research 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. Based on data from MarketBeat, Vertex Pharmaceuticals currently has an average rating of “Moderate Buy” and an average price target of $493.81.

Vertex Pharmaceuticals Stock Down 1.4%

VRTX opened at $403.30 on Monday. Vertex Pharmaceuticals Incorporated has a twelve month low of $362.50 and a twelve month high of $519.88. The company’s 50-day moving average price is $399.12 and its two-hundred day moving average price is $442.02. The stock has a market cap of $103.40 billion, a price-to-earnings ratio of 28.83 and a beta of 0.43.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings data on Monday, August 4th. The pharmaceutical company reported $4.52 earnings per share for the quarter, topping the consensus estimate of $4.24 by $0.28. Vertex Pharmaceuticals had a return on equity of 23.91% and a net margin of 31.86%.The company had revenue of $2.94 billion during the quarter, compared to analyst estimates of $2.90 billion. During the same quarter last year, the firm posted ($12.83) EPS. The firm’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. As a group, sell-side analysts anticipate that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current year.

Insider Activity at Vertex Pharmaceuticals

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

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.