Moors & Cabot Inc. Reduces Holdings in Vertex Pharmaceuticals Incorporated $VRTX

Moors & Cabot Inc. reduced its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 24.8% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 4,134 shares of the pharmaceutical company’s stock after selling 1,363 shares during the period. Moors & Cabot Inc.’s holdings in Vertex Pharmaceuticals were worth $1,840,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Advisor OS LLC increased its holdings in Vertex Pharmaceuticals by 4.4% during the 1st quarter. Advisor OS LLC now owns 543 shares of the pharmaceutical company’s stock valued at $263,000 after acquiring an additional 23 shares in the last quarter. Costello Asset Management INC increased its holdings in Vertex Pharmaceuticals by 3.6% during the 2nd quarter. Costello Asset Management INC now owns 689 shares of the pharmaceutical company’s stock valued at $307,000 after acquiring an additional 24 shares in the last quarter. Kovack Advisors Inc. increased its holdings in Vertex Pharmaceuticals by 1.9% during the 2nd quarter. Kovack Advisors Inc. now owns 1,280 shares of the pharmaceutical company’s stock valued at $570,000 after acquiring an additional 24 shares in the last quarter. Newman Dignan & Sheerar Inc. increased its holdings in Vertex Pharmaceuticals by 3.3% during the 2nd quarter. Newman Dignan & Sheerar Inc. now owns 786 shares of the pharmaceutical company’s stock valued at $350,000 after acquiring an additional 25 shares in the last quarter. Finally, Eastern Bank increased its holdings in Vertex Pharmaceuticals by 1.6% during the 2nd quarter. Eastern Bank now owns 1,635 shares of the pharmaceutical company’s stock valued at $728,000 after acquiring an additional 25 shares in the last quarter. 90.96% of the stock is currently owned by hedge funds and other institutional investors.

Vertex Pharmaceuticals Stock Down 1.1%

Shares of VRTX stock opened at $417.00 on Thursday. The stock has a market cap of $106.92 billion, a price-to-earnings ratio of 29.81 and a beta of 0.43. Vertex Pharmaceuticals Incorporated has a fifty-two week low of $362.50 and a fifty-two week high of $519.88. The firm’s 50 day moving average price is $403.70 and its two-hundred day moving average price is $430.56.

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

Wall Street Analysts Forecast Growth

VRTX has been the subject of a number of recent research reports. Barclays lifted their price target on shares of Vertex Pharmaceuticals from $408.00 to $414.00 and gave the stock an “equal weight” rating in a report on Tuesday. Raymond James Financial initiated coverage on shares of Vertex Pharmaceuticals in a report on Tuesday, September 2nd. They set a “market perform” rating for the company. Cantor Fitzgerald lowered their price target on shares of Vertex Pharmaceuticals from $535.00 to $485.00 and set an “overweight” rating for the company in a report on Tuesday, August 5th. Guggenheim lowered their price target on shares of Vertex Pharmaceuticals from $558.00 to $546.00 and set a “buy” rating for the company in a report on Wednesday, August 6th. Finally, Stifel Nicolaus lowered their price target on shares of Vertex Pharmaceuticals from $455.00 to $445.00 and set a “hold” rating for the company in a report on Tuesday. One equities research 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 company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $489.45.

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.