Vertex Pharmaceuticals Incorporated $VRTX Shares Sold by Keybank National Association OH

Keybank National Association OH lessened its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 12.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 10,678 shares of the pharmaceutical company’s stock after selling 1,523 shares during the quarter. Keybank National Association OH’s holdings in Vertex Pharmaceuticals were worth $4,754,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the company. HBK Sorce Advisory LLC raised its stake in shares of Vertex Pharmaceuticals by 16.2% in the second quarter. HBK Sorce Advisory LLC now owns 690 shares of the pharmaceutical company’s stock worth $307,000 after purchasing an additional 96 shares during the last quarter. Premier Path Wealth Partners LLC raised its stake in shares of Vertex Pharmaceuticals by 2.5% in the second quarter. Premier Path Wealth Partners LLC now owns 1,835 shares of the pharmaceutical company’s stock worth $817,000 after purchasing an additional 45 shares during the last quarter. Arkadios Wealth Advisors raised its stake in shares of Vertex Pharmaceuticals by 47.9% in the second quarter. Arkadios Wealth Advisors now owns 2,152 shares of the pharmaceutical company’s stock worth $958,000 after purchasing an additional 697 shares during the last quarter. Barnes Dennig Private Wealth Management LLC raised its stake in shares of Vertex Pharmaceuticals by 796.4% in the second quarter. Barnes Dennig Private Wealth Management LLC now owns 251 shares of the pharmaceutical company’s stock worth $112,000 after purchasing an additional 223 shares during the last quarter. Finally, World Investment Advisors raised its stake in shares of Vertex Pharmaceuticals by 43.4% in the second quarter. World Investment Advisors now owns 1,253 shares of the pharmaceutical company’s stock worth $558,000 after purchasing an additional 379 shares during the last quarter. 90.96% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Canaccord Genuity Group reduced their price objective on Vertex Pharmaceuticals from $424.00 to $411.00 and set a “hold” rating for the company in a research note on Wednesday, August 6th. Cantor Fitzgerald reduced their price objective on Vertex Pharmaceuticals from $535.00 to $485.00 and set an “overweight” rating for the company in a research note on Tuesday, August 5th. Truist Financial set a $490.00 price objective on Vertex Pharmaceuticals and gave the stock a “buy” rating in a research note on Tuesday, August 5th. Guggenheim reduced their price target on Vertex Pharmaceuticals from $558.00 to $546.00 and set a “buy” rating for the company in a research report on Wednesday, August 6th. Finally, Stifel Nicolaus reduced their price target on 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 analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and twelve have issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $492.10.

Insider Activity at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, Director Bruce I. Sachs acquired 5,000 shares of the business’s stock in a transaction dated Wednesday, August 6th. The stock was acquired at an average cost of $389.68 per share, for a total transaction of $1,948,400.00. Following the completion of the transaction, the director directly owned 45,000 shares of the company’s stock, valued at $17,535,600. This represents a 12.50% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.20% of the stock is owned by company insiders.

Vertex Pharmaceuticals Trading Up 1.4%

Shares of VRTX stock opened at $425.57 on Friday. The stock has a 50 day moving average of $401.71 and a 200 day moving average of $432.43. The stock has a market cap of $109.11 billion, a P/E ratio of 30.42 and a beta of 0.43. Vertex Pharmaceuticals Incorporated has a twelve month low of $362.50 and a twelve month high of $519.88.

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

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.