Vertex Pharmaceuticals Incorporated $VRTX Shares Purchased by Candriam S.C.A.

Key Points

• Candriam S.C.A. increased its Vertex stake by 6.7% in the third quarter, buying 13,428 shares to hold 212,933 shares worth about $111.7 million. Institutional investors collectively own 90.96% of the company’s stock.
• Vertex reported quarterly revenue of $3.44 billion, up 11.8% year over year and above estimates, while earnings per share of $4.76 fell short of the $4.82 consensus.
• Analyst sentiment is broadly positive: MarketBeat’s consensus rating is “Moderate Buy,” with an average price target of $596.44; the stock recently opened at $547.09.

Candriam S.C.A. increased its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 6.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 212,933 shares of the pharmaceutical company's stock after purchasing an additional 13,428 shares during the period. Candriam S.C.A. owned approximately 0.08% of Vertex Pharmaceuticals worth $111,730,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of VRTX. MADDEN SECURITIES Corp bought a new stake in Vertex Pharmaceuticals during the 3rd quarter valued at about $26,000. Meeder Asset Management Inc. purchased a new position in Vertex Pharmaceuticals in the second quarter worth about $26,000. Community Financial Services Group LLC bought a new position in shares of Vertex Pharmaceuticals in the second quarter worth approximately $26,000. Elevation Wealth Partners LLC lifted its stake in shares of Vertex Pharmaceuticals by 103.7% in the second quarter. Elevation Wealth Partners LLC now owns 55 shares of the pharmaceutical company's stock worth $27,000 after buying an additional 28 shares in the last quarter. Finally, Pingora Partners LLC purchased a new stake in shares of Vertex Pharmaceuticals during the second quarter valued at approximately $32,000. 90.96% of the stock is owned by hedge funds and other institutional investors.

Vertex Pharmaceuticals Stock Up 0.8%

Vertex Pharmaceuticals stock opened at $547.09 on Friday. The stock has a market cap of $138.71 billion, a PE ratio of 35.21, a price-to-earnings-growth ratio of 2.83 and a beta of 0.28. The company has a debt-to-equity ratio of 0.17, a quick ratio of 2.74 and a current ratio of 2.34. Vertex Pharmaceuticals Incorporated has a one year low of $406.67 and a one year high of $568.67. The stock has a fifty day moving average of $522.80 and a 200 day moving average of $481.95.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last released its quarterly earnings results on Monday, November 2nd. The pharmaceutical company reported $4.76 earnings per share for the quarter, missing the consensus estimate of $4.82 by ($0.06). Vertex Pharmaceuticals had a return on equity of 21.98% and a net margin of 30.70%. The business had revenue of $3.44 billion during the quarter, compared to the consensus estimate of $3.42 billion. During the same quarter in the previous year, the business posted $4.80 earnings per share. The firm's revenue was up 11.8% on a year-over-year basis. As a group, sell-side analysts predict that Vertex Pharmaceuticals Incorporated will post 16.10 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on VRTX shares. Stifel Nicolaus raised their price target on shares of Vertex Pharmaceuticals from $500.00 to $563.00 and gave the company a "hold" rating in a research report on Tuesday, November 3rd. Sanford C. Bernstein upgraded shares of Vertex Pharmaceuticals to a "strong-buy" rating in a report on Wednesday, July 29th. Truist Financial upped their price objective on Vertex Pharmaceuticals from $560.00 to $565.00 and gave the company a "buy" rating in a research report on Wednesday, August 5th. Rothschild & Co Redburn increased their target price on Vertex Pharmaceuticals from $570.00 to $580.00 and gave the company a "buy" rating in a research note on Wednesday, August 5th. Finally, Canaccord Genuity Group lifted their target price on Vertex Pharmaceuticals from $436.00 to $442.00 and gave the stock a "hold" rating in a report on Tuesday, August 4th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-five have given a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, Vertex Pharmaceuticals has an average rating of "Moderate Buy" and a consensus target price of $596.44.

Vertex Pharmaceuticals News Summary

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

• Positive Sentiment: Several analysts reiterated bullish views or raised price targets, including Barclays, Maxim Group, TD Cowen, JPMorgan, Goldman Sachs and Stifel. These updates support the case for further share-price appreciation, though the articles do not provide the revised target figures. Read More. · Read More. · Read More. · Read More.
• Positive Sentiment: A long-term bullish outlook points to Vertex’s strong cystic fibrosis franchise and its gradual diversification into additional businesses as potential drivers of continued growth. A separate report says core business growth remains steady and diversification is beginning to contribute. Read More. · Read More.
• Neutral Sentiment: Vertex said management will participate in three upcoming investor conferences. The appearances may provide updates, but the announcement itself does not disclose new business or financial information. Read More.
• Negative Sentiment: A bearish analysis argues that costs are growing faster than sales and that Vertex may need another major growth driver to justify its valuation. This highlights execution and pipeline risks as investors assess whether diversification can sustain growth. Read More.
• Negative Sentiment: Not all analysts are more optimistic: Morgan Stanley lowered its expectations for the stock, providing a counterpoint to the recent target increases. Read More.

About Vertex Pharmaceuticals

Vertex Pharmaceuticals is a biotechnology company headquartered in Boston, Massachusetts. Founded in 1989, it develops medicines for serious diseases, with a long-standing focus on cystic fibrosis (CF).

Vertex's CF treatments include medicines that target the underlying protein defect, such as Trikafta/Kaftrio, Alyftrek, Kalydeco, Orkambi and Symdeko/Symkevi. The company also markets Journavx, a non-opioid medicine for acute pain, and partnered with CRISPR Therapeutics to develop Casgevy, a gene-editing treatment for sickle cell disease and transfusion-dependent beta thalassemia.

Vertex serves patients in the United States and international markets, including Europe.

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