Candriam S.C.A. Purchases 3,623 Shares of Vertex Pharmaceuticals Incorporated $VRTX

Key Points

• Candriam S.C.A. increased its Vertex Pharmaceuticals stake by 1.6% in the first quarter, buying 3,623 additional shares and bringing its total holding to 228,915 shares worth about $102.2 million.
• Vertex shares were down 2.2% on the day, but the company remains supported by strong fundamentals: it recently reported Q1 earnings of $4.47 per share, beating expectations, with revenue of $2.99 billion and year-over-year revenue growth of 8.3%.
• Wall Street remains bullish on Vertex, with 21 analysts rating it a Buy and a consensus price target of $557.09. Recent reports also highlighted the company’s growth outlook, including its $10 billion Crinetics acquisition and the FDA expansion for CASGEVY.

Candriam S.C.A. boosted its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 1.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 228,915 shares of the pharmaceutical company's stock after acquiring an additional 3,623 shares during the period. Candriam S.C.A. owned 0.09% of Vertex Pharmaceuticals worth $102,220,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Motiv8 Investments LLC bought a new stake in Vertex Pharmaceuticals during the 4th quarter valued at approximately $26,000. Swiss RE Ltd. acquired a new position in shares of Vertex Pharmaceuticals during the fourth quarter worth approximately $28,000. Eagle Bay Advisors LLC bought a new stake in shares of Vertex Pharmaceuticals in the fourth quarter valued at approximately $29,000. IMG Wealth Management Inc. grew its stake in shares of Vertex Pharmaceuticals by 277.8% in the fourth quarter. IMG Wealth Management Inc. now owns 68 shares of the pharmaceutical company's stock worth $31,000 after acquiring an additional 50 shares during the last quarter. Finally, Ares Financial Consulting LLC bought a new position in Vertex Pharmaceuticals during the fourth quarter worth $33,000. 90.96% of the stock is owned by institutional investors and hedge funds.

Vertex Pharmaceuticals Stock Down 2.2%

Shares of VRTX stock opened at $485.39 on Friday. The company has a market capitalization of $123.19 billion, a P/E ratio of 28.79, a P/E/G ratio of 2.12 and a beta of 0.29. Vertex Pharmaceuticals Incorporated has a 12-month low of $362.50 and a 12-month high of $533.67. The firm has a 50-day moving average price of $457.12 and a 200 day moving average price of $458.33.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last posted its quarterly earnings data on Monday, May 4th. The pharmaceutical company reported $4.47 earnings per share for the quarter, topping the consensus estimate 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 analyst estimates of $2.99 billion. During the same quarter last year, the business posted $4.06 earnings per share. The company's revenue was up 8.3% on a year-over-year basis. As a group, research analysts expect that Vertex Pharmaceuticals Incorporated will post 17.07 earnings per share for the current year.

Analysts Set New Price Targets

VRTX has been the topic of several research analyst reports. Royal Bank Of Canada raised their price target on shares of Vertex Pharmaceuticals from $543.00 to $570.00 and gave the stock an "outperform" rating in a research report on Tuesday. Truist Financial assumed coverage on Vertex Pharmaceuticals in a research report on Wednesday, May 27th. They set a "buy" rating and a $542.00 target price on the stock. Barclays upped their price target on Vertex Pharmaceuticals from $607.00 to $615.00 and gave the company an "overweight" rating in a report on Wednesday, May 6th. Canaccord Genuity Group decreased their price objective on Vertex Pharmaceuticals from $437.00 to $436.00 and set a "hold" rating on the stock in a report on Tuesday, May 5th. Finally, Maxim Group upgraded Vertex Pharmaceuticals from a "hold" rating to a "buy" rating and set a $575.00 target price for the company in a research note on Wednesday, March 18th. Twenty-one investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $557.09.

Vertex Pharmaceuticals News Summary

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

• Positive Sentiment: Vertex’s $10 billion acquisition of Crinetics is being seen as a major expansion move that could add future growth drivers beyond its core cystic fibrosis business. Article Title
• Positive Sentiment: Investors continue to highlight Vertex as a strong long-term compounder, with articles pointing to its decade-long stock performance and durable earnings power. Article Title
• Positive Sentiment: Coverage on Vertex as one of the best QQQ stocks emphasized the July 1 FDA expansion for CASGEVY, which strengthened the company’s gene-therapy growth story. Article Title
• Positive Sentiment: Additional biotech commentary has kept Vertex in focus as one of the sector’s more attractive names, reinforcing investor interest in the stock. Article Title
• Neutral Sentiment: Short-interest data was reported at zero shares, which does not provide a meaningful trading signal and is unlikely to move the stock on its own.
• Neutral Sentiment: Several other biotech articles mentioned Vertex only in passing or as part of broader sector coverage, with limited direct impact on VRTX.

Insider Activity at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, EVP Joy Liu sold 1,104 shares of the stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $425.02, for a total transaction of $469,222.08. Following the sale, the executive vice president owned 20,729 shares of the company's stock, valued at $8,810,239.58. This represents a 5.06% decrease in their position. The sale was disclosed in a legal filing 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, Director Sangeeta N. Bhatia sold 318 shares of the firm's stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $423.73, for a total transaction of $134,746.14. Following the completion of the sale, the director owned 4,924 shares of the company's stock, valued at $2,086,446.52. The trade was a 6.07% 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 ninety days, insiders have sold 18,874 shares of company stock valued at $8,707,966. 0.20% of the stock is currently owned by company 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.

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