Capital Research Global Investors Grows Stock Holdings in Vertex Pharmaceuticals Incorporated $VRTX

Capital Research Global Investors grew its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 2.8% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 16,553,281 shares of the pharmaceutical company’s stock after buying an additional 444,990 shares during the period. Vertex Pharmaceuticals makes up 1.2% of Capital Research Global Investors’ portfolio, making the stock its 17th largest holding. Capital Research Global Investors owned approximately 0.07% of Vertex Pharmaceuticals worth $6,482,978,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in VRTX. Hohimer Wealth Management LLC lifted its holdings in shares of Vertex Pharmaceuticals by 1.2% in the 2nd quarter. Hohimer Wealth Management LLC now owns 2,123 shares of the pharmaceutical company’s stock valued at $945,000 after acquiring an additional 26 shares during the last quarter. Legacy Wealth Asset Management LLC raised its position in Vertex Pharmaceuticals by 1.8% during the third quarter. Legacy Wealth Asset Management LLC now owns 1,442 shares of the pharmaceutical company’s stock valued at $565,000 after purchasing an additional 26 shares during the period. Quent Capital LLC lifted its stake in shares of Vertex Pharmaceuticals by 5.5% in the 3rd quarter. Quent Capital LLC now owns 501 shares of the pharmaceutical company’s stock valued at $196,000 after purchasing an additional 26 shares during the last quarter. Washington Trust Advisors Inc. boosted its holdings in shares of Vertex Pharmaceuticals by 8.0% in the 3rd quarter. Washington Trust Advisors Inc. now owns 349 shares of the pharmaceutical company’s stock worth $137,000 after purchasing an additional 26 shares during the period. Finally, Defined Wealth Management LLC increased its position in shares of Vertex Pharmaceuticals by 3.0% during the 3rd quarter. Defined Wealth Management LLC now owns 932 shares of the pharmaceutical company’s stock valued at $365,000 after purchasing an additional 27 shares during the last quarter. 90.96% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Vertex Pharmaceuticals news, EVP Duncan Mckechnie sold 4,910 shares of the company’s stock in a transaction dated Wednesday, February 25th. The shares were sold at an average price of $487.65, for a total value of $2,394,361.50. Following the transaction, the executive vice president directly owned 17,559 shares in the company, valued at $8,562,646.35. This represents a 21.85% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Amit Sachdev sold 58,613 shares of the firm’s stock in a transaction that occurred on Thursday, February 19th. The stock was sold at an average price of $468.83, for a total transaction of $27,479,532.79. Following the transaction, the executive vice president directly owned 58,934 shares in the company, valued at approximately $27,630,027.22. This trade represents a 49.86% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 91,156 shares of company stock worth $42,845,497 over the last ninety days. 0.20% of the stock is owned by insiders.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Wells Fargo & Company raised their price target on Vertex Pharmaceuticals from $460.00 to $515.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 10th. HC Wainwright set a $591.00 price objective on shares of Vertex Pharmaceuticals in a research report on Tuesday, February 17th. Wolfe Research raised shares of Vertex Pharmaceuticals from a “peer perform” rating to an “outperform” rating and set a $548.00 target price on the stock in a research note on Tuesday, January 6th. Weiss Ratings upgraded shares of Vertex Pharmaceuticals from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, February 4th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $570.00 price target on shares of Vertex Pharmaceuticals in a research note on Friday, February 13th. Twenty-two equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, Vertex Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus target price of $542.00.

Vertex Pharmaceuticals News Roundup

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

• Positive Sentiment: RAINIER Phase 3 interim analysis met the primary endpoint and all secondary endpoints at Week 36, with treated patients showing the intended benefit versus placebo — a major validation step for povetacicept in IgA nephropathy. Vertex Announces Positive Week 36 Interim Analysis Results (BusinessWire)
• Positive Sentiment: Management plans an FDA filing for povetacicept by March, accelerating the regulatory timeline and shortening the path to potential commercialization if final data and review go smoothly. Vertex Stock Surges After Positive Kidney Disease Trial Results (Blockonomi)
• Positive Sentiment: Analysts have reiterated and strengthened bullish views — William Blair’s Myles Minter reiterated a Buy and highlighted increased confidence in povetacicept’s commercial potential, supporting upside to consensus models. Analyst Confidence Boosts Buy Thesis (TipRanks)
• Positive Sentiment: Market reaction: shares rallied in extended trading after the release; coverage notes the asset was acquired in a prior multibillion-dollar deal and is viewed as having “best‑in‑class” potential in a competitive kidney disease market. Vertex Kidney Drug Hits Mark in Late-Stage Study (BioPharmaDive)
• Neutral Sentiment: The result cited is an interim analysis of an ongoing trial — final RAINIER readout, full safety dataset, and regulatory review still lie ahead, so approval and peak sales remain subject to execution and FDA assessment. Press Release / Interim Analysis Details (Yahoo Finance)

Vertex Pharmaceuticals Stock Up 0.9%

VRTX opened at $460.87 on Tuesday. The business has a fifty day moving average of $467.50 and a 200 day moving average of $435.79. The stock has a market cap of $117.07 billion, a P/E ratio of 30.06 and a beta of 0.31. Vertex Pharmaceuticals Incorporated has a 52-week low of $362.50 and a 52-week high of $519.68.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its earnings results on Thursday, February 12th. The pharmaceutical company reported $5.03 earnings per share for the quarter, missing analysts’ consensus estimates of $5.05 by ($0.02). The business had revenue of $3.19 billion during the quarter, compared to analysts’ expectations of $3.18 billion. Vertex Pharmaceuticals had a return on equity of 24.30% and a net margin of 32.94%.The business’s revenue for the quarter was up 9.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.98 EPS. Equities analysts anticipate that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current fiscal year.

Vertex Pharmaceuticals 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.