Spire Wealth Management Lowers Holdings in Vertex Pharmaceuticals Incorporated $VRTX

Spire Wealth Management lowered its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 79.3% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 2,336 shares of the pharmaceutical company’s stock after selling 8,962 shares during the period. Spire Wealth Management’s holdings in Vertex Pharmaceuticals were worth $915,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently modified their holdings of the stock. Chesapeake Asset Management LLC lifted its holdings in Vertex Pharmaceuticals by 110.0% in the third quarter. Chesapeake Asset Management LLC now owns 63 shares of the pharmaceutical company’s stock valued at $25,000 after acquiring an additional 33 shares during the period. Access Investment Management LLC purchased a new position in shares of Vertex Pharmaceuticals during the 2nd quarter valued at approximately $27,000. Legacy Investment Solutions LLC acquired a new position in shares of Vertex Pharmaceuticals in the 2nd quarter valued at $29,000. Total Investment Management Inc. acquired a new position in shares of Vertex Pharmaceuticals in the 2nd quarter valued at $33,000. Finally, American National Bank & Trust boosted its holdings in 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 buying an additional 67 shares in the last quarter. Hedge funds and other institutional investors own 90.96% of the company’s stock.

Vertex Pharmaceuticals Price Performance

NASDAQ VRTX opened at $463.86 on Friday. The stock’s 50 day simple moving average is $443.50 and its 200-day simple moving average is $427.17. The company has a market cap of $117.69 billion, a PE ratio of 32.71 and a beta of 0.31. Vertex Pharmaceuticals Incorporated has a 1-year low of $362.50 and a 1-year high of $519.68.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly earnings data on Monday, November 3rd. The pharmaceutical company reported $4.80 EPS for the quarter, beating the consensus estimate of $4.58 by $0.22. Vertex Pharmaceuticals had a return on equity of 23.51% and a net margin of 31.35%.The firm had revenue of $3.08 billion during the quarter, compared to the consensus estimate of $3.05 billion. During the same period in the prior year, the company earned $4.38 EPS. The firm’s revenue was up 11.0% compared to the same quarter last year. On average, equities research analysts anticipate that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current fiscal year.

Insider Buying and Selling

In other news, EVP Ourania Tatsis sold 4,500 shares of the company’s stock in a transaction that occurred on Wednesday, January 7th. The stock was sold at an average price of $474.99, for a total value of $2,137,455.00. Following the completion of the sale, the executive vice president directly owned 42,293 shares in the company, valued at $20,088,752.07. This represents a 9.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman Jeffrey M. Leiden sold 63,781 shares of Vertex Pharmaceuticals stock in a transaction that occurred on Wednesday, December 3rd. The stock was sold at an average price of $449.20, for a total value of $28,650,425.20. Following the transaction, the chairman owned 24,026 shares in the company, valued at approximately $10,792,479.20. The trade was a 72.64% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 165,105 shares of company stock worth $73,858,523. 0.20% of the stock is owned by insiders.

More Vertex Pharmaceuticals News

Here are the key news stories impacting Vertex Pharmaceuticals this week:

• Positive Sentiment: Vertex reported progress advancing suzetrigine into a Phase?3 trial for diabetic nerve pain — a meaningful new indication that could broaden revenue beyond its cystic fibrosis franchise. Vertex Advances Suzetrigine Phase 3 Trial
• Positive Sentiment: Wolfe Research upgraded the stock recently, and several sell?side firms have raised price targets (e.g., Leerink, Wells Fargo), supporting upside expectations and a consensus target near ~$504. Vertex Stock Rating Upgraded by Wolfe Research
• Neutral Sentiment: Market recaps note short?term price weakness even as fundamentals and analyst coverage remain constructive — context for volatile daily moves but not necessarily a change to the longer?term thesis. Vertex Stock Dips While Market Gains: Key Facts
• Neutral Sentiment: Another market note highlighted the recent down?day versus a broader market uptick — useful color for traders but not new company?specific catalysts. Vertex Stock Falls Amid Market Uptick
• Negative Sentiment: Two senior executives disclosed sizable open?market sales this week — EVP Charles Wagner Jr. sold 9,532 shares (~$4.4M at ~$461/share) and EVP Ourania Tatsis sold 4,500 shares (~$2.14M at ~$475/share). Large insider sales can pressure sentiment even if not tied to company fundamentals. Charles Wagner, Jr. Sells 9,532 Shares
• Negative Sentiment: Separate filing shows EVP Ourania Tatsis’ 4,500?share sale and a near?10% reduction in her position — another factor likely weighing on intraday selling pressure. Ourania Tatsis Insider Sale
• Negative Sentiment: A Seeking Alpha piece and some sell?side notes discuss the near?term cost and execution risk of expanding beyond cystic fibrosis, which can temper investor appetite until new indications (like suzetrigine) de?risk. The Cost Of Growing Beyond Cystic Fibrosis (Rating Downgrade)

Analysts Set New Price Targets

A number of brokerages have weighed in on VRTX. Citigroup upped 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. Royal Bank Of Canada reduced their price target on Vertex Pharmaceuticals from $423.00 to $415.00 and set a “sector perform” rating for the company in a report on Tuesday, November 4th. Leerink Partnrs raised Vertex Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a report on Thursday, September 25th. Stifel Nicolaus cut their price objective on Vertex Pharmaceuticals from $455.00 to $445.00 and set a “hold” rating for the company in a research report on Tuesday, November 4th. Finally, Barclays increased their target price on Vertex Pharmaceuticals from $408.00 to $414.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 4th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat.com, Vertex Pharmaceuticals has an average rating of “Moderate Buy” and an average price target of $503.80.

About Vertex Pharmaceuticals

Vertex Pharmaceuticals Inc is a Boston-based biotechnology company focused on the discovery, development and commercialization of therapies for serious diseases. Founded in 1989, Vertex built its reputation on research-driven drug development and is best known for its work in cystic fibrosis (CF), where its portfolio of small-molecule CFTR modulators transformed standards of care for many people with the disease. The company operates research and development, manufacturing and commercial organizations and serves patients and healthcare systems in multiple international markets.

Vertex’s marketed products center on CFTR modulators that target the underlying cause of cystic fibrosis rather than just treating symptoms.