SGL Investment Advisors Inc. acquired a new stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX – Free Report) during the second quarter, according to its most recent filing with the SEC. The fund acquired 1,043 shares of the pharmaceutical company’s stock, valued at approximately $546,000.
Several other large investors have also added to or reduced their stakes in the stock. Community Financial Services Group LLC bought a new stake in shares of Vertex Pharmaceuticals during the second quarter valued at about $26,000. Meeder Asset Management Inc. bought a new position in shares of Vertex Pharmaceuticals in the second quarter valued at approximately $26,000. Motiv8 Investments LLC bought a new position in shares of Vertex Pharmaceuticals in the fourth quarter valued at approximately $26,000. Elevation Wealth Partners LLC grew its stake in Vertex Pharmaceuticals by 103.7% during the second quarter. Elevation Wealth Partners LLC now owns 55 shares of the pharmaceutical company’s stock valued at $27,000 after acquiring an additional 28 shares in the last quarter. Finally, Swiss RE Ltd. bought a new stake in Vertex Pharmaceuticals during the 4th quarter worth approximately $28,000. Institutional investors own 90.96% of the company’s stock.
Wall Street Analyst Weigh In
Several research analysts have commented on the stock. TD Cowen raised their price target on shares of Vertex Pharmaceuticals from $525.00 to $550.00 and gave the company a “buy” rating in a report on Tuesday, August 4th. Royal Bank Of Canada lifted their price objective on Vertex Pharmaceuticals from $543.00 to $570.00 and gave the company an “outperform” rating in a research note on Tuesday, July 7th. Canaccord Genuity Group boosted their target price on Vertex Pharmaceuticals from $436.00 to $442.00 and gave the stock a “hold” rating in a research report on Tuesday, August 4th. Sanford C. Bernstein upgraded Vertex Pharmaceuticals to a “strong-buy” rating in a research note on Wednesday, July 29th. Finally, Truist Financial raised their price target on Vertex Pharmaceuticals from $560.00 to $565.00 and gave the company a “buy” rating in a report on Wednesday, August 5th. One analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, Vertex Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus price target of $563.50.
Insiders Place Their Bets
In other news, CMO Carmen Bozic sold 596 shares of Vertex Pharmaceuticals stock in a transaction dated Friday, June 26th. The stock was sold at an average price of $482.50, for a total value of $287,570.00. Following the transaction, the chief marketing officer owned 15,337 shares in the company, valued at approximately $7,400,102.50. The trade was a 3.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Ourania Tatsis sold 1,500 shares of the business’s stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $524.99, for a total value of $787,485.00. Following the completion of the sale, the executive vice president directly owned 45,321 shares of the company’s stock, valued at approximately $23,793,071.79. This trade represents a 3.20% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 10,464 shares of company stock valued at $4,959,397 over the last three months. Insiders own 0.20% of the company’s stock.
Vertex Pharmaceuticals Stock Performance
Shares of NASDAQ:VRTX opened at $540.26 on Friday. The firm has a market capitalization of $137.12 billion, a PE ratio of 31.45, a price-to-earnings-growth ratio of 2.28 and a beta of 0.30. Vertex Pharmaceuticals Incorporated has a 52-week low of $374.17 and a 52-week high of $553.69. The firm has a fifty day moving average of $490.59 and a 200 day moving average of $465.35.
Vertex Pharmaceuticals (NASDAQ:VRTX – Get Free Report) last issued its quarterly earnings results on Monday, August 3rd. The pharmaceutical company reported $4.73 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.74 by ($0.01). Vertex Pharmaceuticals had a return on equity of 23.09% and a net margin of 35.00%.The firm had revenue of $3.33 billion for the quarter, compared to the consensus estimate of $3.23 billion. During the same period last year, the firm earned $4.52 EPS. The company’s revenue for the quarter was up 12.5% on a year-over-year basis. On average, sell-side analysts forecast that Vertex Pharmaceuticals Incorporated will post 16.86 EPS for the current fiscal year.
Vertex Pharmaceuticals News Roundup
Here are the key news stories impacting Vertex Pharmaceuticals this week:
- Positive Sentiment: Vertex completed the Phase 2b trial of inaxaplin, its treatment candidate for APOL1-mediated kidney disease. The milestone advances a potentially important non-cystic-fibrosis growth driver and could support future regulatory and commercialization plans. Vertex Advances Kidney Disease Pipeline With Completed Inaxaplin Phase 2b Trial
- Positive Sentiment: Wall Street remains optimistic about VRTX, with BMO Capital reiterating a Buy rating. Analysts point to Vertex’s leadership in cystic fibrosis and potential contributions from newer products and pipeline programs. Vertex Pharmaceuticals Receives a Buy from BMO Capital
- Positive Sentiment: Recent commentary describes cystic fibrosis as a continuing “engine” for Vertex’s rally, suggesting investors expect durable cash generation and additional growth from the company’s dominant franchise. Vertex Pharmaceuticals’ Rally Has a New Engine — and Wall Street Thinks the Best Is Still Ahead
- Neutral Sentiment: Vertex is reportedly entering a new healthcare focus, indicating a broader strategic emphasis beyond its established cystic fibrosis business. The longer-term impact will depend on the specific programs, investment requirements, and commercial potential. Vertex Pharmaceuticals Enters New Healthcare Focus
- Negative Sentiment: Shareholder challenges to Vertex’s proposed acquisition of Crinetics Pharmaceuticals create execution and deal-completion risk. Delays, litigation, or a higher acquisition cost could weigh on sentiment, even though the transaction is intended to expand Vertex’s pipeline. Crinetics Faces Shareholder Challenges to Vertex Merger Deal
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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