Thematics Asset Management Boosts Stock Position in Vertex Pharmaceuticals Incorporated $VRTX

Key Points

• Thematics Asset Management increased its stake in Vertex Pharmaceuticals by 5,032.9%, acquiring a total of 7,956 shares valued at approximately $3.86 million.
• Vertex Pharmaceuticals reported earnings per share (EPS) of $4.52 for its most recent quarter, exceeding analyst expectations of $4.24 and marking an 11.3% increase in revenue year-over-year.
• Current analyst ratings for Vertex Pharmaceuticals include one "Strong Buy", thirteen "Buy", and thirteen "Hold", with an average target price of $497.10.

Thematics Asset Management grew its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 5,032.9% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,956 shares of the pharmaceutical company's stock after buying an additional 7,801 shares during the quarter. Thematics Asset Management's holdings in Vertex Pharmaceuticals were worth $3,857,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Comerica Bank boosted its stake in shares of Vertex Pharmaceuticals by 32.0% in the first quarter. Comerica Bank now owns 65,421 shares of the pharmaceutical company's stock worth $31,717,000 after acquiring an additional 15,843 shares during the last quarter. ICONIQ Capital LLC boosted its stake in shares of Vertex Pharmaceuticals by 116.0% in the first quarter. ICONIQ Capital LLC now owns 1,240 shares of the pharmaceutical company's stock worth $601,000 after acquiring an additional 666 shares during the last quarter. Quantitative Investment Management LLC acquired a new stake in shares of Vertex Pharmaceuticals in the first quarter worth approximately $7,270,000. Smartleaf Asset Management LLC boosted its stake in shares of Vertex Pharmaceuticals by 9.4% in the first quarter. Smartleaf Asset Management LLC now owns 2,848 shares of the pharmaceutical company's stock worth $1,403,000 after acquiring an additional 244 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its stake in shares of Vertex Pharmaceuticals by 3.9% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 13,037 shares of the pharmaceutical company's stock worth $6,321,000 after acquiring an additional 490 shares during the last quarter. 90.96% of the stock is currently owned by hedge funds and other institutional investors.

Vertex Pharmaceuticals Stock Performance

Shares of Vertex Pharmaceuticals stock traded up $1.90 during trading hours on Wednesday, hitting $389.08. The company's stock had a trading volume of 1,911,174 shares, compared to its average volume of 2,537,219. Vertex Pharmaceuticals Incorporated has a twelve month low of $362.50 and a twelve month high of $519.88. The firm has a fifty day moving average of $435.47 and a 200-day moving average of $459.64. The stock has a market cap of $99.76 billion, a price-to-earnings ratio of 27.81 and a beta of 0.44.

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on VRTX. JPMorgan Chase & Co. lifted their price target on Vertex Pharmaceuticals from $515.00 to $517.00 and gave the stock an "overweight" rating in a research note on Monday, July 14th. Wall Street Zen lowered Vertex Pharmaceuticals from a "strong-buy" rating to a "buy" rating in a research note on Friday, August 22nd. UBS Group set a $553.00 price objective on Vertex Pharmaceuticals and gave the stock a "buy" rating in a research note on Tuesday, August 5th. Cantor Fitzgerald lowered their price objective on Vertex Pharmaceuticals from $535.00 to $485.00 and set an "overweight" rating on the stock in a research note on Tuesday, August 5th. Finally, Royal Bank Of Canada lowered their price objective on Vertex Pharmaceuticals from $430.00 to $405.00 and set a "sector perform" rating on the stock in a research note on Tuesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and thirteen have given a Hold rating to the company. According to MarketBeat.com, Vertex Pharmaceuticals has a consensus rating of "Moderate Buy" and a consensus target price of $497.10.

Insider Activity at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, Director Bruce I. Sachs purchased 5,000 shares of the firm's stock in a transaction dated Wednesday, August 6th. The shares were acquired at an average price of $389.68 per share, with a total value of $1,948,400.00. Following the purchase, 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 position. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. 0.20% of the stock is currently owned by company insiders.

Vertex Pharmaceuticals 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.