Keudell Morrison Wealth Management Cuts Stock Holdings in Vertex Pharmaceuticals Incorporated $VRTX

Keudell Morrison Wealth Management lessened its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 7.0% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 597 shares of the pharmaceutical company’s stock after selling 45 shares during the period. Keudell Morrison Wealth Management’s holdings in Vertex Pharmaceuticals were worth $266,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in Vertex Pharmaceuticals by 1.0% during the first quarter. Vanguard Group Inc. now owns 23,491,161 shares of the pharmaceutical company’s stock worth $11,388,985,000 after buying an additional 232,873 shares during the period. Jennison Associates LLC raised its position in shares of Vertex Pharmaceuticals by 17.2% in the 1st quarter. Jennison Associates LLC now owns 5,062,442 shares of the pharmaceutical company’s stock worth $2,454,373,000 after acquiring an additional 744,680 shares in the last quarter. Alliancebernstein L.P. lifted its stake in shares of Vertex Pharmaceuticals by 0.9% during the 1st quarter. Alliancebernstein L.P. now owns 3,953,512 shares of the pharmaceutical company’s stock worth $1,916,742,000 after purchasing an additional 33,492 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in Vertex Pharmaceuticals by 72.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,917,227 shares of the pharmaceutical company’s stock valued at $1,414,331,000 after purchasing an additional 1,226,527 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Vertex Pharmaceuticals by 9.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,559,476 shares of the pharmaceutical company’s stock valued at $1,240,885,000 after purchasing an additional 230,257 shares in the last quarter. 90.96% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

VRTX has been the subject of a number of recent research reports. Scotiabank reduced their target price on shares of Vertex Pharmaceuticals from $442.00 to $438.00 and set a “sector perform” rating for the company in a report on Tuesday, August 5th. Leerink Partners raised shares of Vertex Pharmaceuticals from a “market perform” rating to an “outperform” rating and cut their price objective for the stock from $458.00 to $456.00 in a research report on Thursday, September 25th. UBS Group set a $553.00 target price on shares of Vertex Pharmaceuticals and gave the company a “buy” rating in a research report on Tuesday, August 5th. JPMorgan Chase & Co. raised their target price on shares of Vertex Pharmaceuticals from $515.00 to $517.00 and gave the company an “overweight” rating in a research note on Monday, July 14th. Finally, Raymond James Financial started coverage on Vertex Pharmaceuticals in a research report on Tuesday, September 2nd. They set a “market perform” rating on the stock. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and twelve have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $493.81.

Insider Buying and Selling at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, Director Bruce I. Sachs purchased 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 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 position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.20% of the stock is currently owned by corporate insiders.

Vertex Pharmaceuticals Trading Down 1.4%

Shares of NASDAQ:VRTX opened at $403.30 on Monday. Vertex Pharmaceuticals Incorporated has a 12-month low of $362.50 and a 12-month high of $519.88. The business has a 50 day moving average of $399.12 and a two-hundred day moving average of $442.02. The company has a market capitalization of $103.40 billion, a PE ratio of 28.83 and a beta of 0.43.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its earnings results on Monday, August 4th. The pharmaceutical company reported $4.52 earnings per share for the quarter, beating 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 firm had revenue of $2.94 billion during the quarter, compared to analyst estimates of $2.90 billion. During the same period in the previous year, the firm earned ($12.83) EPS. The business’s quarterly revenue was up 11.3% on a year-over-year basis. Vertex Pharmaceuticals has set its FY 2025 guidance at EPS. Equities research analysts predict that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current fiscal year.

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.