Vertex Pharmaceuticals Incorporated $VRTX Shares Sold by Rhenman & Partners Asset Management AB

Rhenman & Partners Asset Management AB trimmed its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 27.0% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 34,255 shares of the pharmaceutical company's stock after selling 12,700 shares during the quarter. Vertex Pharmaceuticals comprises approximately 1.5% of Rhenman & Partners Asset Management AB's portfolio, making the stock its 27th biggest position. Rhenman & Partners Asset Management AB's holdings in Vertex Pharmaceuticals were worth $15,530,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in VRTX. Colonial Trust Co SC boosted its holdings in Vertex Pharmaceuticals by 118.8% in the third quarter. Colonial Trust Co SC now owns 70 shares of the pharmaceutical company's stock valued at $27,000 after purchasing an additional 38 shares in the last quarter. Swiss RE Ltd. acquired a new position in Vertex Pharmaceuticals in the fourth quarter valued at approximately $28,000. Eagle Bay Advisors LLC acquired a new position in Vertex Pharmaceuticals in the fourth quarter valued at approximately $29,000. IMG Wealth Management Inc. boosted its holdings in Vertex Pharmaceuticals by 277.8% in the fourth quarter. IMG Wealth Management Inc. now owns 68 shares of the pharmaceutical company's stock valued at $31,000 after purchasing an additional 50 shares in the last quarter. Finally, Ares Financial Consulting LLC acquired a new position in Vertex Pharmaceuticals in the fourth quarter valued at approximately $33,000. 90.96% of the stock is owned by institutional investors and hedge funds.

Key Vertex Pharmaceuticals News

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

• Positive Sentiment: Vertex received bullish attention from market commentary highlighting that Wall Street remains interested in the stock despite a bearish “death cross” technical setup, suggesting investors are focusing more on the company’s fundamentals than the chart pattern. Article Title
• Positive Sentiment: The company announced new CASGEVY data at the European Hematology Association Congress, including the first European presentation of results in children ages 5–11 and additional global regulatory submissions, which could support longer-term growth for the gene-editing therapy. Article Title
• Positive Sentiment: Analysts and media coverage have been broadly upbeat on Vertex, including pieces describing it as a favored healthcare stock and a stock some investors view as attractive to buy now, reinforcing confidence in the name. Article Title
• Neutral Sentiment: Erste Group slightly lowered its FY2027 EPS estimate for Vertex to $19.24 from $19.36, a small revision that may not materially change the long-term outlook but is a minor headwind for sentiment. Article Title
• Negative Sentiment: The stock has also experienced a recent pullback in some sessions, reflecting normal volatility and some profit-taking even as the broader narrative remains constructive. Article Title

Analyst Ratings Changes

VRTX has been the subject of a number of research reports. Citigroup boosted their price objective on Vertex Pharmaceuticals from $575.00 to $585.00 and gave the company a "buy" rating in a research note on Tuesday, March 10th. Canaccord Genuity Group reduced their price objective on Vertex Pharmaceuticals from $437.00 to $436.00 and set a "hold" rating for the company in a research note on Tuesday, May 5th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $590.00 price objective on shares of Vertex Pharmaceuticals in a research note on Friday, February 13th. Bank of America boosted their price objective on Vertex Pharmaceuticals from $571.00 to $598.00 and gave the company a "buy" rating in a research note on Tuesday, March 10th. Finally, Jefferies Financial Group initiated coverage on Vertex Pharmaceuticals in a research note on Tuesday, March 10th. They issued a "buy" rating and a $580.00 price objective for the company. Twenty-two research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $555.91.

Vertex Pharmaceuticals Price Performance

Vertex Pharmaceuticals stock opened at $444.92 on Friday. Vertex Pharmaceuticals Incorporated has a 12 month low of $362.50 and a 12 month high of $507.92. The business has a 50 day simple moving average of $437.14 and a 200-day simple moving average of $452.33. The stock has a market capitalization of $112.92 billion, a PE ratio of 26.39, a price-to-earnings-growth ratio of 1.90 and a beta of 0.30.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last released its quarterly earnings results on Monday, May 4th. The pharmaceutical company reported $4.47 EPS for the quarter, topping the consensus estimate of $4.24 by $0.23. Vertex Pharmaceuticals had a return on equity of 23.86% and a net margin of 35.51%.The business had revenue of $2.99 billion during the quarter, compared to analysts' expectations of $2.99 billion. During the same quarter in the prior year, the business earned $4.06 earnings per share. The company's quarterly revenue was up 8.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Vertex Pharmaceuticals Incorporated will post 17.02 EPS for the current year.

Insider Transactions at Vertex Pharmaceuticals

In other news, Director Sangeeta N. Bhatia sold 318 shares of the company's stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $423.73, for a total transaction of $134,746.14. Following the completion of the sale, the director owned 4,924 shares in the company, valued at $2,086,446.52. This represents a 6.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CMO Carmen Bozic sold 1,745 shares of the stock in a transaction on Friday, June 5th. The stock was sold at an average price of $450.00, for a total value of $785,250.00. Following the completion of the transaction, the chief marketing officer owned 21,015 shares of the company's stock, valued at $9,456,750. The trade was a 7.67% 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 sold 11,133 shares of company stock worth $4,973,106 over the last 90 days. 0.20% of the stock is currently owned by insiders.

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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