Bowen Hanes & Co. Inc. Purchases 9,070 Shares of Vertex Pharmaceuticals Incorporated $VRTX

Key Points

• Bowen Hanes & Co. Inc. increased its Vertex Pharmaceuticals stake by 7.3% in the fourth quarter, buying 9,070 additional shares and bringing its total to 133,504 shares worth about $60.5 million.
• Vertex continues to receive a bullish analyst outlook, with several firms raising price targets and the stock holding a consensus rating of “Moderate Buy” and a $555.91 average target price.
• The company is seeing positive pipeline momentum, including FDA acceptance of its povetacicept application for IgA nephropathy and an upcoming appearance at the Goldman Sachs healthcare conference.

Bowen Hanes & Co. Inc. raised its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 7.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 133,504 shares of the pharmaceutical company's stock after buying an additional 9,070 shares during the quarter. Bowen Hanes & Co. Inc. owned about 0.05% of Vertex Pharmaceuticals worth $60,525,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. REAP Financial Group LLC grew its holdings in shares of Vertex Pharmaceuticals by 19.0% during the 4th quarter. REAP Financial Group LLC now owns 182 shares of the pharmaceutical company's stock valued at $83,000 after purchasing an additional 29 shares during the last quarter. GKV Capital Management Co. Inc. grew its holdings in shares of Vertex Pharmaceuticals by 2.4% during the 4th quarter. GKV Capital Management Co. Inc. now owns 4,305 shares of the pharmaceutical company's stock valued at $1,952,000 after purchasing an additional 100 shares during the last quarter. Shepherd Street Advisors LLC bought a new stake in shares of Vertex Pharmaceuticals during the 4th quarter valued at approximately $1,358,000. CIBC Asset Management Inc grew its holdings in shares of Vertex Pharmaceuticals by 32.9% during the 4th quarter. CIBC Asset Management Inc now owns 107,641 shares of the pharmaceutical company's stock valued at $48,800,000 after purchasing an additional 26,636 shares during the last quarter. Finally, Marble Wealth LLC bought a new stake in shares of Vertex Pharmaceuticals during the 4th quarter valued at approximately $392,000. 90.96% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently issued reports on VRTX. Scotiabank lifted their price target on shares of Vertex Pharmaceuticals from $495.00 to $558.00 and gave the company an "outperform" rating in a report on Friday, February 13th. Morgan Stanley lifted their price target on shares of Vertex Pharmaceuticals from $612.00 to $616.00 and gave the company an "overweight" rating in a report on Tuesday, May 5th. Sanford C. Bernstein reduced their target price on shares of Vertex Pharmaceuticals from $577.00 to $572.00 and set an "outperform" rating on the stock in a report on Tuesday, May 5th. HC Wainwright boosted their target price on shares of Vertex Pharmaceuticals from $591.00 to $641.00 and gave the stock a "buy" rating in a report on Tuesday, March 10th. Finally, Maxim Group raised shares of Vertex Pharmaceuticals from a "hold" rating to a "buy" rating and set a $575.00 target price on the stock in a report on Wednesday, March 18th. Twenty-two research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, Vertex Pharmaceuticals has a consensus rating of "Moderate Buy" and a consensus price target of $555.91.

Key Stories Impacting Vertex Pharmaceuticals

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

• Positive Sentiment: The FDA accepted Vertex’s Biologics License Application for povetacicept in adults with IgA nephropathy, putting the company one step closer to a potential new nephrology launch and a regulatory decision expected on November 30, 2026. This is an important pipeline milestone that could expand Vertex’s growth story beyond cystic fibrosis. FDA Accepts Vertex's BLA for Povetacicept in IgA Nephropathy
• Positive Sentiment: Vertex will participate in the Goldman Sachs 47th Annual Global Healthcare Conference on June 10, with CEO Reshma Kewalramani scheduled for a fireside chat. Investors may view the event as an opportunity for management to discuss pipeline updates and long-term strategy. Vertex to Participate in the Goldman Sachs 47th Annual Global Healthcare Conference on June 10
• Neutral Sentiment: Recent commentary suggests VRTX has been trading modestly above its last earnings level, with analysts debating whether the stock can keep advancing after its latest results. This is more of a valuation/expectations check than a direct catalyst. Vertex (VRTX) Up 0.2% Since Last Earnings Report: Can It Continue?
• Neutral Sentiment: Other articles highlighted that Vertex has recently underperformed the broader healthcare sector and that its shares have consolidated after a strong multi-year run. These pieces reflect investor debate around current valuation rather than a specific fundamental setback. Vertex Pharmaceuticals Stock: Is VRTX Underperforming the Healthcare Sector?

Vertex Pharmaceuticals Stock Up 0.8%

Vertex Pharmaceuticals stock opened at $428.34 on Thursday. Vertex Pharmaceuticals Incorporated has a 12-month low of $362.50 and a 12-month high of $507.92. The firm's fifty day moving average is $437.63 and its 200 day moving average is $451.81. The company has a market capitalization of $108.71 billion, a PE ratio of 25.41, a PEG ratio of 1.82 and a beta of 0.30.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last released 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. The company had revenue of $2.99 billion for the quarter, compared to the consensus estimate of $2.99 billion. Vertex Pharmaceuticals had a net margin of 35.51% and a return on equity of 23.86%. Vertex Pharmaceuticals's quarterly revenue was up 8.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $4.06 EPS. Sell-side analysts expect that Vertex Pharmaceuticals Incorporated will post 16.99 EPS for the current fiscal year.

Insider Buying and Selling at Vertex Pharmaceuticals

In other news, Director Sangeeta N. Bhatia sold 318 shares of the company's stock in a transaction on Monday, May 4th. The shares were sold at an average price of $423.73, for a total value of $134,746.14. Following the completion of the sale, the director owned 4,924 shares in the company, valued at $2,086,446.52. This represents a 6.07% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Joy Liu sold 1,104 shares of the company's stock in a transaction on Friday, May 1st. The stock was sold at an average price of $425.02, for a total transaction of $469,222.08. Following the completion of the sale, the executive vice president owned 20,729 shares of the company's stock, valued at approximately $8,810,239.58. The trade was a 5.06% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 11,717 shares of company stock worth $5,309,945. 0.20% of the stock is owned by corporate insiders.

Vertex Pharmaceuticals Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.