Carmignac Gestion Lowers Position in Vertex Pharmaceuticals Incorporated $VRTX

Key Points

Error: Response status code does not indicate success: 429 (Too Many Requests).

Carmignac Gestion lessened its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 35.7% in the first quarter, according to its most recent filing with the SEC. The firm owned 126,954 shares of the pharmaceutical company's stock after selling 70,512 shares during the quarter. Vertex Pharmaceuticals makes up approximately 1.0% of Carmignac Gestion's investment portfolio, making the stock its 29th largest holding. Carmignac Gestion's holdings in Vertex Pharmaceuticals were worth $61,612,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in VRTX. Clal Insurance Enterprises Holdings Ltd increased 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 valued at $27,000 after purchasing an additional 45 shares during the period. Mascagni Wealth Management Inc. acquired a new stake in Vertex Pharmaceuticals during the 4th quarter valued at approximately $31,000. Mpwm Advisory Solutions LLC acquired a new stake in Vertex Pharmaceuticals during the 4th quarter valued at approximately $40,000. Minot DeBlois Advisors LLC acquired a new stake in Vertex Pharmaceuticals during the 4th quarter valued at approximately $44,000. Finally, SJS Investment Consulting Inc. increased 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 valued at $46,000 after purchasing an additional 30 shares during the period. Institutional investors and hedge funds own 90.96% of the company's stock.

Analyst Ratings Changes

VRTX has been the subject of a number of recent analyst reports. HC Wainwright decreased their target price on shares of Vertex Pharmaceuticals from $550.00 to $478.00 and set a "buy" rating for the company in a research report on Tuesday, August 5th. Stifel Nicolaus cut their price target on Vertex Pharmaceuticals from $494.00 to $455.00 and set a "hold" rating on the stock in a report on Tuesday, August 5th. Leerink Partners restated a "market perform" rating and set a $503.00 price target (down from $550.00) on shares of Vertex Pharmaceuticals in a report on Tuesday, May 6th. Wolfe Research cut Vertex Pharmaceuticals from an "outperform" rating to a "peer perform" rating in a report on Wednesday, May 7th. Finally, JPMorgan Chase & Co. increased their price target on Vertex Pharmaceuticals from $515.00 to $517.00 and gave the stock an "overweight" rating in a report on Monday, July 14th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and thirteen have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $497.10.

Insider Activity

In other news, Director Bruce I. Sachs bought 5,000 shares of the business's stock in a transaction that occurred on Wednesday, August 6th. The shares were bought at an average cost of $389.68 per share, for a total transaction of $1,948,400.00. Following the acquisition, the director directly owned 45,000 shares in the company, valued at approximately $17,535,600. This trade represents a 12.50% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.20% of the stock is currently owned by corporate insiders.

Vertex Pharmaceuticals Trading Up 0.8%

Shares of VRTX traded up $3.10 during trading hours on Thursday, reaching $397.46. The stock had a trading volume of 1,851,693 shares, compared to its average volume of 2,487,458. Vertex Pharmaceuticals Incorporated has a 12 month low of $362.50 and a 12 month high of $519.88. The firm has a 50-day simple moving average of $440.20 and a 200 day simple moving average of $462.13. The company has a market capitalization of $101.90 billion, a price-to-earnings ratio of 28.41 and a beta of 0.44.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last issued 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. Vertex Pharmaceuticals had a return on equity of 23.91% and a net margin of 31.86%.The company had revenue of $2.94 billion for the quarter, compared to analysts' expectations of $2.90 billion. During the same period last year, the business earned ($12.83) EPS. Vertex Pharmaceuticals's quarterly revenue was up 11.3% compared to the same quarter last year. Vertex Pharmaceuticals has set its FY 2025 guidance at EPS. On average, equities analysts forecast that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current year.

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.