Institute for Wealth Management LLC. Sells 91 Shares of Vertex Pharmaceuticals Incorporated $VRTX

Institute for Wealth Management LLC. cut its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 2.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,423 shares of the pharmaceutical company’s stock after selling 91 shares during the period. Institute for Wealth Management LLC.’s holdings in Vertex Pharmaceuticals were worth $1,524,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of VRTX. Activest Wealth Management purchased a new position in shares of Vertex Pharmaceuticals during the first quarter worth about $25,000. Clal Insurance Enterprises Holdings Ltd grew its holdings 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 purchasing an additional 45 shares in the last quarter. Flaharty Asset Management LLC purchased a new position in shares of Vertex Pharmaceuticals during the first quarter worth about $32,000. American National Bank & Trust grew its holdings in shares of Vertex Pharmaceuticals by 515.4% during the second quarter. American National Bank & Trust now owns 80 shares of the pharmaceutical company’s stock worth $36,000 after purchasing an additional 67 shares in the last quarter. Finally, SJS Investment Consulting Inc. grew its holdings in shares of Vertex Pharmaceuticals by 46.2% during the first quarter. SJS Investment Consulting Inc. now owns 95 shares of the pharmaceutical company’s stock worth $46,000 after purchasing an additional 30 shares in the last quarter. 90.96% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Vertex Pharmaceuticals

In related news, Director Bruce I. Sachs acquired 5,000 shares of the company’s stock in a transaction dated Wednesday, August 6th. The stock was purchased 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 $17,535,600. This trade represents a 12.50% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.20% of the company’s stock.

Wall Street Analyst Weigh In

VRTX has been the subject of several recent analyst reports. HC Wainwright cut their price objective on Vertex Pharmaceuticals from $550.00 to $478.00 and set a “buy” rating for the company in a report on Tuesday, August 5th. Wells Fargo & Company raised Vertex Pharmaceuticals from an “equal weight” rating to an “overweight” rating and set a $460.00 price objective for the company in a report on Wednesday, August 6th. Evercore ISI cut their target price on Vertex Pharmaceuticals from $510.00 to $475.00 and set an “outperform” rating for the company in a research note on Thursday, September 11th. Leerink Partners raised Vertex Pharmaceuticals from a “market perform” rating to an “outperform” rating and cut their target price for the stock from $458.00 to $456.00 in a research note on Thursday, September 25th. Finally, Raymond James Financial initiated coverage on Vertex Pharmaceuticals in a research note on Tuesday, September 2nd. They issued a “market perform” rating for the company. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $493.81.

Vertex Pharmaceuticals Stock Performance

NASDAQ:VRTX opened at $391.64 on Wednesday. The firm has a market cap of $100.41 billion, a PE ratio of 27.99 and a beta of 0.44. Vertex Pharmaceuticals Incorporated has a fifty-two week low of $362.50 and a fifty-two week high of $519.88. The business has a 50 day moving average price of $403.17 and a 200-day moving average price of $444.73.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its quarterly earnings data on Monday, August 4th. The pharmaceutical company reported $4.52 earnings per share for the quarter, beating analysts’ consensus estimates of $4.24 by $0.28. The firm had revenue of $2.94 billion during the quarter, compared to analyst estimates of $2.90 billion. Vertex Pharmaceuticals had a return on equity of 23.91% and a net margin of 31.86%.The business’s quarterly revenue was up 11.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($12.83) earnings per share. Vertex Pharmaceuticals has set its FY 2025 guidance at EPS. Research analysts predict that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current year.

Vertex Pharmaceuticals Company 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.