Capital World Investors Lowers Stock Holdings in Vertex Pharmaceuticals Incorporated $VRTX

Capital World Investors lowered its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 9.8% in the third quarter, Holdings Channel reports. The firm owned 25,910,587 shares of the pharmaceutical company’s stock after selling 2,821,556 shares during the period. Vertex Pharmaceuticals accounts for about 1.4% of Capital World Investors’ investment portfolio, making the stock its 11th largest position. Capital World Investors owned approximately 0.10% of Vertex Pharmaceuticals worth $10,147,738,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of VRTX. Hohimer Wealth Management LLC increased its holdings in shares of Vertex Pharmaceuticals by 1.2% in the second quarter. Hohimer Wealth Management LLC now owns 2,123 shares of the pharmaceutical company’s stock valued at $945,000 after purchasing an additional 26 shares during the last quarter. Legacy Wealth Asset Management LLC grew its holdings in shares of Vertex Pharmaceuticals by 1.8% during the 3rd quarter. Legacy Wealth Asset Management LLC now owns 1,442 shares of the pharmaceutical company’s stock worth $565,000 after purchasing an additional 26 shares during the period. Quent Capital LLC increased its position in shares of Vertex Pharmaceuticals by 5.5% during the 3rd quarter. Quent Capital LLC now owns 501 shares of the pharmaceutical company’s stock worth $196,000 after purchasing an additional 26 shares during the last quarter. Washington Trust Advisors Inc. lifted 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 acquiring an additional 26 shares during the last quarter. Finally, Defined Wealth Management LLC increased its holdings in Vertex Pharmaceuticals by 3.0% in 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 hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. HC Wainwright set a $591.00 price objective on shares of Vertex Pharmaceuticals in a research note on Tuesday, February 17th. Wells Fargo & Company raised their target price on Vertex Pharmaceuticals from $460.00 to $515.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 10th. Evercore increased their target price on shares of Vertex Pharmaceuticals from $475.00 to $530.00 and gave the company an “outperform” rating in a research report on Friday, January 23rd. Royal Bank Of Canada cut their price target on Vertex Pharmaceuticals from $546.00 to $541.00 and set an “outperform” rating on the stock in a research report on Friday, February 13th. Finally, Leerink Partners raised their price objective on shares of Vertex Pharmaceuticals from $456.00 to $525.00 and gave the stock an “outperform” rating in a research report on Monday, December 29th. Twenty-two research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $542.00.

Vertex Pharmaceuticals Price Performance

Shares of Vertex Pharmaceuticals stock opened at $460.87 on Tuesday. The business has a 50 day moving average price of $467.50 and a 200 day moving average price of $435.79. The company has a market capitalization of $117.07 billion, a P/E ratio of 30.06 and a beta of 0.31. Vertex Pharmaceuticals Incorporated has a 1 year low of $362.50 and a 1 year high of $519.68.

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

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)

Insider Transactions at Vertex Pharmaceuticals

In related news, EVP Mark E. Bunnage sold 2,021 shares of the firm’s stock in a transaction on Wednesday, February 11th. The stock was sold at an average price of $460.43, for a total transaction of $930,529.03. Following the transaction, the executive vice president directly owned 12,914 shares in the company, valued at $5,945,993.02. This trade represents a 13.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Ourania Tatsis sold 4,500 shares of the business’s stock in a transaction on Wednesday, January 7th. The stock was sold at an average price of $474.99, for a total value of $2,137,455.00. Following the transaction, the executive vice president owned 42,293 shares of the company’s stock, valued at $20,088,752.07. This trade represents a 9.62% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 91,156 shares of company stock valued at $42,845,497 in the last three months. 0.20% of the stock is currently owned by company insiders.

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.