Portfolio Design Labs LLC bought a new position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX – Free Report) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund bought 1,192 shares of the pharmaceutical company’s stock, valued at approximately $592,000.
A number of other large investors have also added to or reduced their stakes in VRTX. Bangor Savings Bank lifted its holdings in Vertex Pharmaceuticals by 0.4% during the 2nd quarter. Bangor Savings Bank now owns 4,470 shares of the pharmaceutical company’s stock valued at $2,220,000 after purchasing an additional 20 shares during the last quarter. Confluence Wealth Services Inc. increased its holdings in shares of Vertex Pharmaceuticals by 4.0% in the fourth quarter. Confluence Wealth Services Inc. now owns 545 shares of the pharmaceutical company’s stock valued at $247,000 after purchasing an additional 21 shares during the last quarter. Trust Point Inc. raised its position in shares of Vertex Pharmaceuticals by 2.7% in the second quarter. Trust Point Inc. now owns 793 shares of the pharmaceutical company’s stock valued at $394,000 after purchasing an additional 21 shares during the period. Williams Jones Wealth Management LLC. raised its position in shares of Vertex Pharmaceuticals by 1.9% in the fourth quarter. Williams Jones Wealth Management LLC. now owns 1,155 shares of the pharmaceutical company’s stock valued at $524,000 after purchasing an additional 21 shares during the period. Finally, Cannell & Spears LLC lifted its stake in shares of Vertex Pharmaceuticals by 1.2% during the 1st quarter. Cannell & Spears LLC now owns 1,983 shares of the pharmaceutical company’s stock worth $885,000 after buying an additional 23 shares during the last quarter. Institutional investors own 90.96% of the company’s stock.
Insider Buying and Selling
In other Vertex Pharmaceuticals news, EVP Duncan Mckechnie sold 1,541 shares of the stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $519.00, for a total transaction of $799,779.00. Following the sale, the executive vice president directly owned 11,001 shares in the company, valued at $5,709,519. This represents a 12.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CMO Carmen Bozic sold 596 shares of the firm’s stock in a transaction dated Friday, June 26th. The shares were sold at an average price of $482.50, for a total transaction of $287,570.00. Following the completion of the transaction, the chief marketing officer directly owned 15,337 shares in the company, valued at approximately $7,400,102.50. This represents a 3.74% 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. Insiders sold 10,464 shares of company stock valued at $4,959,397 over the last quarter. 0.20% of the stock is owned by company insiders.
Analyst Ratings Changes
Check Out Our Latest Research Report on Vertex Pharmaceuticals
Vertex Pharmaceuticals Price Performance
Shares of NASDAQ VRTX opened at $540.26 on Friday. The business has a fifty day moving average price of $490.59 and a two-hundred day moving average price of $465.35. The stock has a market capitalization of $137.12 billion, a PE ratio of 31.45, a P/E/G ratio of 2.28 and a beta of 0.30. Vertex Pharmaceuticals Incorporated has a fifty-two week low of $374.17 and a fifty-two week high of $553.69.
Vertex Pharmaceuticals (NASDAQ:VRTX – Get Free Report) last released its 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 company had revenue of $3.33 billion for the quarter, compared to analyst estimates of $3.23 billion. During the same period last year, the company posted $4.52 earnings per share. The business’s revenue for the quarter was up 12.5% compared to the same quarter last year. On average, equities analysts expect that Vertex Pharmaceuticals Incorporated will post 16.86 EPS for the current year.
More Vertex Pharmaceuticals News
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
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.
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