Corient Private Wealth LP Acquires 17,263 Shares of Vertex Pharmaceuticals Incorporated $VRTX

Key Points

• Corient Private Wealth increased its Vertex Pharmaceuticals stake by 20%, buying 17,263 shares to hold 103,755 shares valued at approximately $51.5 million. Institutional investors own 90.96% of the company.
• Analyst sentiment remains positive, with a consensus “Moderate Buy” rating and average price target of $570.83; TD Cowen, UBS, and Morgan Stanley recently raised targets or initiated bullish coverage.
• Vertex reported 12.5% year-over-year revenue growth to $3.33 billion, slightly ahead of estimates, although quarterly EPS narrowly missed expectations. Insiders sold 8,719 shares worth about $4.17 million over the past 90 days.

Corient Private Wealth LP boosted its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 20.0% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 103,755 shares of the pharmaceutical company's stock after purchasing an additional 17,263 shares during the period. Corient Private Wealth LP's holdings in Vertex Pharmaceuticals were worth $51,539,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Summit Global Investments acquired a new position in Vertex Pharmaceuticals in the second quarter valued at $3,568,000. Allworth Financial LP grew its holdings in Vertex Pharmaceuticals by 414.1% during the 4th quarter. Allworth Financial LP now owns 14,036 shares of the pharmaceutical company's stock worth $6,363,000 after acquiring an additional 11,306 shares during the period. Calamos Advisors LLC raised its position in shares of Vertex Pharmaceuticals by 77.1% in the 1st quarter. Calamos Advisors LLC now owns 77,886 shares of the pharmaceutical company's stock worth $34,779,000 after acquiring an additional 33,917 shares in the last quarter. Meiji Yasuda America Inc bought a new position in shares of Vertex Pharmaceuticals in the 4th quarter worth about $1,911,000. Finally, Fideuram Intesa Sanpaolo Private Banking S.P.A. raised its position in shares of Vertex Pharmaceuticals by 11.9% in the 1st quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A. now owns 34,991 shares of the pharmaceutical company's stock worth $15,625,000 after acquiring an additional 3,710 shares in the last quarter. 90.96% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CMO Carmen Bozic sold 4,062 shares of Vertex Pharmaceuticals stock in a transaction on Monday, June 15th. The shares were sold at an average price of $450.00, for a total value of $1,827,900.00. Following the completion of the sale, the chief marketing officer owned 16,953 shares of the company's stock, valued at approximately $7,628,850. This trade represents a 19.33% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Ourania Tatsis sold 1,500 shares of the business's stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $524.99, for a total transaction of $787,485.00. Following the sale, the executive vice president owned 45,321 shares of the company's stock, valued at $23,793,071.79. This trade represents a 3.20% 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. Insiders have sold a total of 8,719 shares of company stock worth $4,174,147 in the last ninety days. Corporate insiders own 0.20% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on VRTX. TD Cowen upped their target price on Vertex Pharmaceuticals from $525.00 to $550.00 and gave the company a "buy" rating in a research report on Tuesday, August 4th. Wall Street Zen downgraded Vertex Pharmaceuticals from a "buy" rating to a "hold" rating in a report on Sunday, June 28th. UBS Group boosted their price target on Vertex Pharmaceuticals from $545.00 to $585.00 and gave the company a "buy" rating in a research note on Monday, July 13th. Morgan Stanley began coverage on Vertex Pharmaceuticals in a report on Tuesday, September 1st. They set an "overweight" rating and a $665.00 price target on the stock. Finally, Weiss Ratings raised shares of Vertex Pharmaceuticals from a "buy (b-)" rating to a "buy (b)" rating in a research report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and two have given a Hold rating to the company. According to MarketBeat, Vertex Pharmaceuticals presently has a consensus rating of "Moderate Buy" and an average price target of $570.83.

Vertex Pharmaceuticals Price Performance

Shares of Vertex Pharmaceuticals stock opened at $515.44 on Friday. Vertex Pharmaceuticals Incorporated has a one year low of $374.17 and a one year high of $560.25. The firm has a market capitalization of $130.82 billion, a price-to-earnings ratio of 30.00, a PEG ratio of 2.24 and a beta of 0.32. The business has a 50-day simple moving average of $511.01 and a 200 day simple moving average of $473.15.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last announced its quarterly earnings results on Monday, August 3rd. The pharmaceutical company reported $4.73 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.74 by ($0.01). Vertex Pharmaceuticals had a return on equity of 23.09% and a net margin of 35.00%.The firm had revenue of $3.33 billion during the quarter, compared to the consensus estimate of $3.23 billion. During the same quarter in the previous year, the company posted $4.52 EPS. The firm's revenue was up 12.5% on a year-over-year basis. On average, sell-side analysts expect that Vertex Pharmaceuticals Incorporated will post 16.88 EPS for the current year.

Vertex Pharmaceuticals News Roundup

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

• Positive Sentiment: JPMorgan reaffirmed its overweight rating and raised its price target to $560 from $515, implying approximately 8.6% potential upside from the referenced price. The target increase signals greater confidence in Vertex’s earnings outlook and pipeline. JPMorgan Vertex analyst rating
• Positive Sentiment: Coverage highlights Vertex’s strong core business and raised guidance as key factors supporting the shares. The company’s latest reported quarter also showed revenue growth of 12.5% year over year to $3.33 billion, ahead of estimates, despite a marginal EPS miss. Strong Core Business, Raised Guidance Push Vertex Pharmaceuticals Higher
• Positive Sentiment: Vertex’s approximately $10 billion acquisition of Crinetics Pharmaceuticals is viewed as a potential new growth engine. The transaction gives Vertex an immediate presence in endocrinology and could reduce its long-term dependence on the cystic fibrosis franchise by adding a new commercial platform. Vertex Pharmaceuticals Incorporated: Crinetics Acquisition Creates a New Growth Engine Beyond Cystic Fibrosis
• Neutral Sentiment: Investor conference presentations and a Q2 peer comparison provide additional updates on Vertex’s business and industry position, but the available reports do not identify a new material catalyst beyond the company’s existing financial outlook. Vertex Pharmaceuticals Cantor Fitzgerald Conference Transcript
• Neutral Sentiment: Reported short interest was zero shares, offering no evidence of meaningful short-selling pressure; however, the data appears inconsistent and may be a reporting artifact.

Vertex Pharmaceuticals Profile

Vertex Pharmaceuticals Incorporated is a global biotechnology company focused on developing and commercializing medicines for serious diseases. Founded in 1989 and headquartered in Boston, Massachusetts, the company combines research in human genetics with drug discovery and development.

Vertex is best known for its cystic fibrosis portfolio, which includes CFTR modulator therapies such as Kalydeco, Orkambi, Symdeko and the combination marketed as Trikafta in the United States and Kaftrio in other markets.

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