Candriam S.C.A. Sells 60,335 Shares of Vertex Pharmaceuticals Incorporated $VRTX

Key Points

• Candriam S.C.A. has reduced its stake in Vertex Pharmaceuticals by 23.3%, selling 60,335 shares, bringing its total holdings to 198,287 shares valued at approximately $96 million.
• Vertex Pharmaceuticals recently reported earnings of $4.52 per share, surpassing analysts' estimates, and achieved revenue of $2.94 billion for the quarter, reflecting an 11.3% year-over-year increase.
• Vertex's shares have been the focus of various analyst ratings, with a consensus rating of "Moderate Buy" and a target price of $497.10, indicating strong market confidence in the company's future.

Candriam S.C.A. reduced its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 23.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 198,287 shares of the pharmaceutical company's stock after selling 60,335 shares during the period. Vertex Pharmaceuticals makes up approximately 0.6% of Candriam S.C.A.'s holdings, making the stock its 29th largest holding. Candriam S.C.A. owned approximately 0.08% of Vertex Pharmaceuticals worth $96,134,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Clal Insurance Enterprises Holdings Ltd grew its position in Vertex Pharmaceuticals by 450.0% during the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 55 shares of the pharmaceutical company's stock worth $27,000 after acquiring an additional 45 shares during the last quarter. Mascagni Wealth Management Inc. bought a new stake in Vertex Pharmaceuticals during the 4th quarter worth approximately $31,000. Mpwm Advisory Solutions LLC bought a new stake in Vertex Pharmaceuticals during the 4th quarter worth approximately $40,000. Minot DeBlois Advisors LLC bought a new stake in Vertex Pharmaceuticals during the 4th quarter worth approximately $44,000. Finally, SJS Investment Consulting Inc. grew its position in Vertex Pharmaceuticals by 46.2% during the 1st quarter. SJS Investment Consulting Inc. now owns 95 shares of the pharmaceutical company's stock worth $46,000 after acquiring an additional 30 shares during the last quarter. 90.96% of the stock is currently owned by institutional investors.

Vertex Pharmaceuticals Trading Up 0.2%

Shares of Vertex Pharmaceuticals stock opened at $390.76 on Wednesday. The company has a market capitalization of $100.19 billion, a PE ratio of 27.93 and a beta of 0.44. Vertex Pharmaceuticals Incorporated has a 12 month low of $362.50 and a 12 month high of $519.88. The stock's fifty day simple moving average is $442.61 and its 200 day simple moving average is $463.11.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last released its earnings results on Monday, August 4th. The pharmaceutical company reported $4.52 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.24 by $0.28. The firm had revenue of $2.94 billion during the quarter, compared to analysts' expectations of $2.90 billion. Vertex Pharmaceuticals had a return on equity of 23.91% and a net margin of 31.86%.The company's revenue was up 11.3% on a year-over-year basis. During the same quarter in the prior year, the company earned ($12.83) EPS. Vertex Pharmaceuticals has set its FY 2025 guidance at EPS. Analysts predict that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current fiscal year.

Insider Transactions at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, Director Bruce I. Sachs purchased 5,000 shares of the company's stock in a transaction dated Wednesday, August 6th. The stock was bought at an average cost of $389.68 per share, for a total transaction of $1,948,400.00. Following the completion of the transaction, the director owned 45,000 shares in the company, valued at approximately $17,535,600. This represents a 12.50% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this link. 0.20% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

VRTX has been the topic of a number of recent research reports. William Blair reiterated an "outperform" rating on shares of Vertex Pharmaceuticals in a research report on Tuesday, May 6th. Leerink Partners reiterated a "market perform" rating and issued a $503.00 price objective (down from $550.00) on shares of Vertex Pharmaceuticals in a research report on Tuesday, May 6th. JPMorgan Chase & Co. increased their price objective on Vertex Pharmaceuticals from $515.00 to $517.00 and gave the company an "overweight" rating in a research report on Monday, July 14th. Wells Fargo & Company upgraded Vertex Pharmaceuticals from an "equal weight" rating to an "overweight" rating and set a $460.00 price objective on the stock in a research report on Wednesday, August 6th. Finally, Wall Street Zen upgraded Vertex Pharmaceuticals from a "hold" rating to a "strong-buy" rating in a research report on Saturday, August 9th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and thirteen have issued a Hold rating to the company. According to MarketBeat, Vertex Pharmaceuticals presently has a consensus rating of "Moderate Buy" and a consensus target price of $497.10.

Vertex Pharmaceuticals Company Profile

Vertex Pharmaceuticals Incorporated, a biotechnology company, engages in developing and commercializing therapies for treating cystic fibrosis (CF). It markets TRIKAFTA/KAFTRIO for people with CF with at least one F508del mutation for 2 years of age or older; SYMDEKO/SYMKEVI for people with CF for 6 years of age or older; ORKAMBI for CF patients 1 year or older; and KALYDECO for the treatment of patients with 1 year or older who have CF with ivacaftor.

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