Ifrah Financial Services Inc. Sells 44 Shares of Vertex Pharmaceuticals Incorporated $VRTX

Ifrah Financial Services Inc. lowered its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 1.2% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,501 shares of the pharmaceutical company’s stock after selling 44 shares during the period. Ifrah Financial Services Inc.’s holdings in Vertex Pharmaceuticals were worth $1,559,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in VRTX. United Services Automobile Association acquired a new position in shares of Vertex Pharmaceuticals during the 1st quarter worth about $2,933,000. Lee Johnson Capital Management LLC acquired a new stake in Vertex Pharmaceuticals in the 2nd quarter valued at about $721,000. SteelPeak Wealth LLC acquired a new stake in Vertex Pharmaceuticals in the 2nd quarter valued at about $10,059,000. Moody Lynn & Lieberson LLC lifted its stake in Vertex Pharmaceuticals by 1.4% in the 2nd quarter. Moody Lynn & Lieberson LLC now owns 58,077 shares of the pharmaceutical company’s stock valued at $25,856,000 after purchasing an additional 822 shares during the last quarter. Finally, New England Research & Management Inc. acquired a new stake in Vertex Pharmaceuticals in the 2nd quarter valued at about $472,000. Institutional investors own 90.96% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on VRTX. Canaccord Genuity Group cut their price objective on shares of Vertex Pharmaceuticals from $424.00 to $411.00 and set a “hold” rating for the company in a research report on Wednesday, August 6th. Wall Street Zen downgraded shares of Vertex Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Friday, August 22nd. Scotiabank cut their price objective on shares of Vertex Pharmaceuticals from $442.00 to $438.00 and set a “sector perform” rating for the company in a research report on Tuesday, August 5th. Citigroup raised their price objective on shares of Vertex Pharmaceuticals from $550.00 to $575.00 and gave the stock a “buy” rating in a research report on Thursday, October 2nd. Finally, Morgan Stanley cut their price objective on shares of Vertex Pharmaceuticals from $439.00 to $438.00 and set an “equal weight” rating for the company in a research report on Friday, October 10th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to MarketBeat, Vertex Pharmaceuticals has an average rating of “Moderate Buy” and a consensus target price of $494.38.

Vertex Pharmaceuticals Price Performance

Shares of NASDAQ:VRTX opened at $416.81 on Friday. The company’s 50 day simple moving average is $395.46 and its 200 day simple moving average is $436.76. The stock has a market capitalization of $106.87 billion, a price-to-earnings ratio of 29.79 and a beta of 0.43. Vertex Pharmaceuticals Incorporated has a 1 year low of $362.50 and a 1 year high of $519.88.

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

Insiders Place Their Bets

In related news, Director Bruce I. Sachs bought 5,000 shares of the business’s stock in a transaction on Wednesday, August 6th. The shares were purchased at an average price 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 approximately $17,535,600. This represents a 12.50% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. 0.20% of the stock is owned by corporate insiders.

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.