Vertex Pharmaceuticals Incorporated $VRTX Stock Sold by Cullinan Associates Inc.

Cullinan Associates Inc. trimmed its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 2.6% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 50,437 shares of the pharmaceutical company’s stock after selling 1,325 shares during the quarter. Vertex Pharmaceuticals makes up approximately 2.0% of Cullinan Associates Inc.’s holdings, making the stock its 11th largest position. Cullinan Associates Inc.’s holdings in Vertex Pharmaceuticals were worth $26,369,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. MADDEN SECURITIES Corp bought a new position in shares of Vertex Pharmaceuticals in the 3rd quarter worth approximately $26,000. Meeder Asset Management Inc. bought a new stake in shares of Vertex Pharmaceuticals during the second quarter valued at approximately $26,000. Community Financial Services Group LLC purchased a new stake in Vertex Pharmaceuticals in the second quarter worth $26,000. Elevation Wealth Partners LLC grew its stake in Vertex Pharmaceuticals by 103.7% in the second quarter. Elevation Wealth Partners LLC now owns 55 shares of the pharmaceutical company’s stock worth $27,000 after purchasing an additional 28 shares during the period. Finally, Pingora Partners LLC bought a new position in Vertex Pharmaceuticals in the second quarter worth $32,000. Hedge funds and other institutional investors own 90.96% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Morgan Stanley lowered their price objective on Vertex Pharmaceuticals from $665.00 to $660.00 and set an “overweight” rating for the company in a research report on Tuesday, November 3rd. Barclays increased their price target on shares of Vertex Pharmaceuticals from $617.00 to $626.00 and gave the stock an “overweight” rating in a research note on Wednesday. Cantor Fitzgerald lifted their price target on shares of Vertex Pharmaceuticals from $595.00 to $619.00 and gave the company an “overweight” rating in a research report on Tuesday, November 3rd. Daiwa Securities Group lifted their price target on shares of Vertex Pharmaceuticals from $555.00 to $556.00 and gave the company a “buy” rating in a research report on Tuesday, August 11th. Finally, Scotiabank upped their price objective on shares of Vertex Pharmaceuticals from $558.00 to $660.00 and gave the stock a “sector outperform” rating in a report on Tuesday, November 3rd. One research analyst has rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $596.44.

Key Stories Impacting Vertex Pharmaceuticals

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

• Positive Sentiment: Several analysts reiterated bullish views or raised price targets, including Barclays, Maxim Group, TD Cowen, JPMorgan, Goldman Sachs and Stifel. These updates support the case for further share-price appreciation, though the articles do not provide the revised target figures. Read More. · Read More. · Read More. · Read More.
• Positive Sentiment: A long-term bullish outlook points to Vertex’s strong cystic fibrosis franchise and its gradual diversification into additional businesses as potential drivers of continued growth. A separate report says core business growth remains steady and diversification is beginning to contribute. Read More. · Read More.
• Neutral Sentiment: Vertex said management will participate in three upcoming investor conferences. The appearances may provide updates, but the announcement itself does not disclose new business or financial information. Read More.
• Negative Sentiment: A bearish analysis argues that costs are growing faster than sales and that Vertex may need another major growth driver to justify its valuation. This highlights execution and pipeline risks as investors assess whether diversification can sustain growth. Read More.
• Negative Sentiment: Not all analysts are more optimistic: Morgan Stanley lowered its expectations for the stock, providing a counterpoint to the recent target increases. Read More.

Vertex Pharmaceuticals Stock Up 0.8%

Shares of NASDAQ:VRTX opened at $547.09 on Friday. The stock has a fifty day simple moving average of $522.80 and a two-hundred day simple moving average of $481.95. The stock has a market capitalization of $138.71 billion, a price-to-earnings ratio of 35.21, a PEG ratio of 2.83 and a beta of 0.28. Vertex Pharmaceuticals Incorporated has a 12-month low of $406.67 and a 12-month high of $568.67. The company has a current ratio of 2.34, a quick ratio of 2.74 and a debt-to-equity ratio of 0.17.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its earnings results on Monday, November 2nd. The pharmaceutical company reported $4.76 EPS for the quarter, missing the consensus estimate of $4.82 by ($0.06). Vertex Pharmaceuticals had a return on equity of 21.98% and a net margin of 30.70%. The company had revenue of $3.44 billion during the quarter, compared to the consensus estimate of $3.42 billion. During the same period last year, the firm posted $4.80 earnings per share. The company’s revenue was up 11.8% compared to the same quarter last year. On average, research analysts anticipate that Vertex Pharmaceuticals Incorporated will post 16.10 earnings per share for the current fiscal year.

Vertex Pharmaceuticals Profile

Vertex Pharmaceuticals is a biotechnology company headquartered in Boston, Massachusetts. Founded in 1989, it develops medicines for serious diseases, with a long-standing focus on cystic fibrosis (CF).

Vertex’s CF treatments include medicines that target the underlying protein defect, such as Trikafta/Kaftrio, Alyftrek, Kalydeco, Orkambi and Symdeko/Symkevi. The company also markets Journavx, a non-opioid medicine for acute pain, and partnered with CRISPR Therapeutics to develop Casgevy, a gene-editing treatment for sickle cell disease and transfusion-dependent beta thalassemia.

Vertex serves patients in the United States and international markets, including Europe.