Sapient Capital LLC Sells 15,332 Shares of Vertex Pharmaceuticals Incorporated $VRTX

Key Points

• Sapient Capital reduced its Vertex Pharmaceuticals stake by 44.7% in the first quarter, selling 15,332 shares and retaining 18,992 shares valued at approximately $8.48 million. Institutional investors collectively own 90.96% of Vertex’s stock.
• Vertex reported quarterly earnings of $4.47 per share, exceeding consensus estimates of $4.24, while revenue reached $2.99 billion, up 8.3% year over year.
• Analyst sentiment remains positive, with 22 Buy ratings and three Holds producing a “Moderate Buy” consensus and an average price target of $559.61, above the stock’s reported opening price of $477.10.

Sapient Capital LLC cut its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 44.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 18,992 shares of the pharmaceutical company's stock after selling 15,332 shares during the period. Sapient Capital LLC's holdings in Vertex Pharmaceuticals were worth $8,481,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Allworth Financial LP grew its holdings in shares of Vertex Pharmaceuticals by 414.1% during the fourth quarter. Allworth Financial LP now owns 14,036 shares of the pharmaceutical company's stock worth $6,363,000 after buying an additional 11,306 shares in the last quarter. Calamos Advisors LLC lifted its stake in Vertex Pharmaceuticals by 77.1% in the 1st quarter. Calamos Advisors LLC now owns 77,886 shares of the pharmaceutical company's stock valued at $34,779,000 after acquiring an additional 33,917 shares in the last quarter. Sandro Wealth Management LLC bought a new stake in Vertex Pharmaceuticals in the 4th quarter valued at approximately $1,436,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. boosted its position in Vertex Pharmaceuticals by 11.9% during 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 during the last quarter. Finally, Meiji Yasuda America Inc bought a new position in shares of Vertex Pharmaceuticals during the 4th quarter worth approximately $1,911,000. Institutional investors own 90.96% of the company's stock.

Insider Activity

In related news, EVP Ourania Tatsis sold 1,500 shares of the firm's stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $524.99, for a total value of $787,485.00. Following the completion of the sale, the executive vice president directly owned 45,321 shares in the company, valued at approximately $23,793,071.79. This trade represents a 3.20% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CMO Carmen Bozic sold 596 shares of Vertex Pharmaceuticals stock in a transaction dated Friday, June 26th. The stock was sold at an average price of $482.50, for a total value of $287,570.00. Following the transaction, the chief marketing officer owned 15,337 shares of the company's stock, valued at $7,400,102.50. The trade was a 3.74% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 17,452 shares of company stock valued at $8,103,997. 0.20% of the stock is owned by company insiders.

Vertex Pharmaceuticals Stock Performance

Shares of VRTX opened at $477.10 on Monday. The company's fifty day simple moving average is $470.62 and its 200 day simple moving average is $460.33. Vertex Pharmaceuticals Incorporated has a 1-year low of $362.50 and a 1-year high of $533.67. The company has a market cap of $121.09 billion, a price-to-earnings ratio of 28.30, a PEG ratio of 2.15 and a beta of 0.29.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last announced its quarterly earnings results on Monday, May 4th. The pharmaceutical company reported $4.47 EPS for the quarter, beating analysts' consensus estimates of $4.24 by $0.23. The firm had revenue of $2.99 billion during the quarter, compared to analysts' expectations of $2.99 billion. Vertex Pharmaceuticals had a net margin of 35.51% and a return on equity of 23.86%. The company's revenue for the quarter was up 8.3% compared to the same quarter last year. During the same quarter last year, the company posted $4.06 earnings per share. As a group, research analysts forecast that Vertex Pharmaceuticals Incorporated will post 17.01 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms recently weighed in on VRTX. Barclays raised their target price on shares of Vertex Pharmaceuticals from $607.00 to $615.00 and gave the company an "overweight" rating in a research report on Wednesday, May 6th. Sanford C. Bernstein cut their price target on shares of Vertex Pharmaceuticals from $577.00 to $572.00 and set an "outperform" rating on the stock in a research report on Tuesday, May 5th. Weiss Ratings upgraded shares of Vertex Pharmaceuticals from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Friday, July 17th. UBS Group raised their price objective on Vertex Pharmaceuticals from $545.00 to $585.00 and gave the company a "buy" rating in a report on Monday, July 13th. Finally, Truist Financial upped their target price on Vertex Pharmaceuticals from $542.00 to $560.00 and gave the stock a "buy" rating in a report on Monday, July 13th. Twenty-two equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $559.61.

About Vertex Pharmaceuticals

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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