Swiss National Bank cut its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX – Free Report) by 5.1% in the fourth quarter, Holdings Channel.com reports. The firm owned 702,600 shares of the pharmaceutical company’s stock after selling 37,700 shares during the quarter. Swiss National Bank’s holdings in Vertex Pharmaceuticals were worth $318,531,000 at the end of the most recent reporting period.
A number of other large investors have also made changes to their positions in VRTX. Brighton Jones LLC grew its position in shares of Vertex Pharmaceuticals by 15.0% in the fourth quarter. Brighton Jones LLC now owns 4,427 shares of the pharmaceutical company’s stock valued at $1,783,000 after purchasing an additional 579 shares in the last quarter. Gamco Investors INC. ET AL purchased a new stake in shares of Vertex Pharmaceuticals in the second quarter valued at approximately $228,000. NewEdge Advisors LLC grew its position in shares of Vertex Pharmaceuticals by 9.0% in the second quarter. NewEdge Advisors LLC now owns 11,929 shares of the pharmaceutical company’s stock valued at $5,311,000 after purchasing an additional 986 shares in the last quarter. ICW Investment Advisors LLC grew its position in shares of Vertex Pharmaceuticals by 5.0% in the second quarter. ICW Investment Advisors LLC now owns 604 shares of the pharmaceutical company’s stock valued at $269,000 after purchasing an additional 29 shares in the last quarter. Finally, Diversify Advisory Services LLC grew its position in shares of Vertex Pharmaceuticals by 26.3% in the second quarter. Diversify Advisory Services LLC now owns 7,291 shares of the pharmaceutical company’s stock valued at $3,246,000 after purchasing an additional 1,518 shares in the last quarter. 90.96% of the stock is currently owned by hedge funds and other institutional investors.
Vertex Pharmaceuticals Stock Performance
Shares of Vertex Pharmaceuticals stock opened at $445.04 on Friday. The firm has a market capitalization of $112.95 billion, a price-to-earnings ratio of 26.40, a PEG ratio of 1.86 and a beta of 0.30. Vertex Pharmaceuticals Incorporated has a fifty-two week low of $362.50 and a fifty-two week high of $507.92. The stock has a 50 day moving average of $437.19 and a 200 day moving average of $452.38.
More Vertex Pharmaceuticals News
Here are the key news stories impacting Vertex Pharmaceuticals this week:
- Positive Sentiment: Vertex announced new data on CASGEVY showing clinical benefits in patients ages 5 and older with severe sickle cell disease or transfusion-dependent beta thalassemia, including pediatric data consistent with the therapy’s profile in older patients. The company also said it is making additional global regulatory submissions, which could expand the drug’s commercial opportunity. Article Title
- Positive Sentiment: Several recent items point to supportive Wall Street views, including a “Moderate Buy” consensus and multiple higher price targets, suggesting analysts still see upside despite the stock’s recent strength.
- Neutral Sentiment: Vertex presented at the Goldman Sachs Global Healthcare Conference, but no major new financial guidance or pipeline surprise was highlighted in the available summary. Article Title
- Neutral Sentiment: A senior executive sold shares under a pre-arranged 10b5-1 plan. While this can draw attention, the sale appears routine rather than a sign of negative business developments. Article Title
- Negative Sentiment: Erste Group trimmed its FY2027 EPS estimate for Vertex slightly, which may have limited enthusiasm a bit, though the change was modest and the outlook remains above current-year consensus. Article Title
Insider Buying and Selling
In related news, EVP Joy Liu sold 1,104 shares of the stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $425.02, for a total value of $469,222.08. Following the completion of the transaction, the executive vice president directly owned 20,729 shares in the company, valued at approximately $8,810,239.58. This represents a 5.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CMO Carmen Bozic sold 6,988 shares of the stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $450.00, for a total value of $3,144,600.00. Following the completion of the transaction, the chief marketing officer owned 26,088 shares of the company’s stock, valued at $11,739,600. The trade was a 21.13% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 11,133 shares of company stock worth $4,973,106. Company insiders own 0.20% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently issued reports on the company. Oppenheimer upped their price target on Vertex Pharmaceuticals from $540.00 to $600.00 and gave the company an “outperform” rating in a research report on Tuesday, March 10th. Weiss Ratings upgraded Vertex Pharmaceuticals from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, May 18th. HC Wainwright upped their price target on Vertex Pharmaceuticals from $591.00 to $641.00 and gave the company a “buy” rating in a research report on Tuesday, March 10th. Scotiabank upped their price target on Vertex Pharmaceuticals from $495.00 to $558.00 and gave the company an “outperform” rating in a research report on Friday, February 13th. Finally, Truist Financial assumed coverage on Vertex Pharmaceuticals in a research report on Wednesday, May 27th. They issued a “buy” rating and a $542.00 price target for the company. Twenty-two investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, Vertex Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average price target of $555.91.
Get Our Latest Stock Analysis on Vertex Pharmaceuticals
Vertex Pharmaceuticals Company Profile
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.
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