Rare Wolf Capital LLC Makes New Investment in Vertex Pharmaceuticals Incorporated $VRTX

Rare Wolf Capital LLC acquired a new stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 2,015 shares of the pharmaceutical company’s stock, valued at approximately $914,000.

A number of other hedge funds also recently made changes to their positions in VRTX. Norges Bank acquired a new position in shares of Vertex Pharmaceuticals during the 4th quarter worth approximately $1,440,149,000. Capital International Investors lifted its holdings in Vertex Pharmaceuticals by 77.9% during the 3rd quarter. Capital International Investors now owns 4,689,059 shares of the pharmaceutical company’s stock valued at $1,836,550,000 after purchasing an additional 2,053,156 shares during the last quarter. Victory Capital Management Inc. boosted its position in Vertex Pharmaceuticals by 49.4% during the fourth quarter. Victory Capital Management Inc. now owns 3,356,766 shares of the pharmaceutical company’s stock worth $1,521,851,000 after purchasing an additional 1,109,200 shares during the period. Capital Research Global Investors boosted its position in Vertex Pharmaceuticals by 4.6% during the fourth quarter. Capital Research Global Investors now owns 17,316,344 shares of the pharmaceutical company’s stock worth $7,850,544,000 after purchasing an additional 763,063 shares during the period. Finally, Life Cycle Investment Partners Ltd acquired a new position in shares of Vertex Pharmaceuticals in the fourth quarter valued at $166,317,000. 90.96% of the stock is owned by institutional investors and hedge funds.

Trending Headlines about Vertex Pharmaceuticals

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

• Positive Sentiment: Vertex remains fundamentally strong, with its last reported quarter beating EPS estimates and revenue rising 8.3% year over year, while analysts still broadly rate the stock a moderate buy with a consensus target above the current share price.
• Neutral Sentiment: The company has continued to attract investor attention as a “trending” biotech name, but the recent articles do not cite any new pipeline, regulatory, or earnings catalyst to explain a bigger move.
• Negative Sentiment: CMO Carmen Bozic sold 4,062 shares at $450 each under a Rule 10b5-1 plan, and the insider transaction may be contributing to cautious trading in VRTX. Article Title
• Negative Sentiment: Recent coverage notes the stock has been slipping even as the broader market gained, suggesting investors may be taking profits or reassessing valuation after the latest run-up. Article Title

Insiders Place Their Bets

In other news, Director Sangeeta N. Bhatia sold 318 shares of the firm’s stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $423.73, for a total transaction of $134,746.14. Following the transaction, the director directly owned 4,924 shares of the company’s stock, valued at approximately $2,086,446.52. This trade represents a 6.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CMO Carmen Bozic sold 4,062 shares of the firm’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $450.00, for a total transaction of $1,827,900.00. Following the transaction, the chief marketing officer directly owned 16,953 shares in the company, valued at $7,628,850. This represents a 19.33% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 15,195 shares of company stock worth $6,801,006 in the last quarter. 0.20% of the stock is currently owned by corporate insiders.

Vertex Pharmaceuticals Price Performance

VRTX stock opened at $451.63 on Friday. Vertex Pharmaceuticals Incorporated has a fifty-two week low of $362.50 and a fifty-two week high of $507.92. The stock has a market capitalization of $114.62 billion, a price-to-earnings ratio of 26.79, a PEG ratio of 1.96 and a beta of 0.30. The business’s fifty day moving average price is $438.56 and its two-hundred day moving average price is $453.14.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its earnings results on Monday, May 4th. The pharmaceutical company reported $4.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.24 by $0.23. Vertex Pharmaceuticals had a net margin of 35.51% and a return on equity of 23.86%. The company had revenue of $2.99 billion during the quarter, compared to analysts’ expectations of $2.99 billion. During the same quarter in the previous year, the business posted $4.06 earnings per share. Vertex Pharmaceuticals’s quarterly revenue was up 8.3% on a year-over-year basis. Research analysts expect that Vertex Pharmaceuticals Incorporated will post 17.02 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. HC Wainwright increased their price objective on shares of Vertex Pharmaceuticals from $591.00 to $641.00 and gave the company a “buy” rating in a research report on Tuesday, March 10th. Maxim Group raised shares of Vertex Pharmaceuticals from a “hold” rating to a “buy” rating and set a $575.00 target price for the company in a report on Wednesday, March 18th. Bank of America upped their price target on shares of Vertex Pharmaceuticals from $571.00 to $598.00 and gave the company a “buy” rating in a research note on Tuesday, March 10th. Wall Street Zen cut shares of Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Saturday, May 30th. Finally, Jefferies Financial Group initiated coverage on shares of Vertex Pharmaceuticals in a research report on Tuesday, March 10th. They set a “buy” rating and a $580.00 price objective for the company. Twenty-two research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $555.91.

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.