Vertex Pharmaceuticals Incorporated $VRTX Stock Position Boosted by Sigma Planning Corp

Key Points

• Sigma Planning Corp increased its Vertex Pharmaceuticals stake by 249.4% in the third quarter, ending with 3,609 shares valued at approximately $1.88 million. Institutional investors and hedge funds collectively own 90.96% of Vertex.
• Vertex shares opened at $521.03, with a 12-month range of $403.16 to $560.25 and a market capitalization of $132.24 billion. The company’s latest quarterly revenue rose 12.5% year over year to $3.33 billion, though earnings per share narrowly missed estimates.
• Analysts remain generally optimistic, with a consensus “Moderate Buy” rating and an average price target of $579.81; price targets from several firms were recently raised. Investors are also focused on Vertex’s upcoming third-quarter results and the growth of non-cystic-fibrosis products such as Casgevy and Journavx.

Sigma Planning Corp boosted its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 249.4% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,609 shares of the pharmaceutical company's stock after acquiring an additional 2,576 shares during the quarter. Sigma Planning Corp's holdings in Vertex Pharmaceuticals were worth $1,884,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Community Financial Services Group LLC purchased a new position in shares of Vertex Pharmaceuticals in the second quarter valued at $26,000. Meeder Asset Management Inc. acquired a new stake in shares of Vertex Pharmaceuticals during the second quarter valued at about $26,000. Elevation Wealth Partners LLC increased its holdings in Vertex Pharmaceuticals by 103.7% during the 2nd quarter. Elevation Wealth Partners LLC now owns 55 shares of the pharmaceutical company's stock worth $27,000 after purchasing an additional 28 shares during the last quarter. Pingora Partners LLC acquired a new stake in Vertex Pharmaceuticals in the second quarter valued at $32,000. Finally, City Holding Co. raised its stake in shares of Vertex Pharmaceuticals by 128.1% in the 2nd quarter. City Holding Co. now owns 73 shares of the pharmaceutical company's stock valued at $36,000 after purchasing an additional 41 shares in the last quarter. Institutional investors and hedge funds own 90.96% of the company's stock.

Vertex Pharmaceuticals Price Performance

NASDAQ VRTX opened at $521.03 on Wednesday. Vertex Pharmaceuticals Incorporated has a 12 month low of $403.16 and a 12 month high of $560.25. The firm has a market capitalization of $132.24 billion, a PE ratio of 30.33 and a beta of 0.28. The company's 50 day simple moving average is $523.05 and its 200 day simple moving average is $478.30.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last released its earnings results on Monday, August 3rd. The pharmaceutical company reported $4.73 earnings per share for the quarter, missing analysts' consensus estimates of $4.74 by ($0.01). The business had revenue of $3.33 billion during the quarter, compared to analysts' expectations of $3.23 billion. During the same period last year, the business earned $4.52 EPS. Vertex Pharmaceuticals's revenue for the quarter was up 12.5% compared to the same quarter last year. Sell-side analysts anticipate that Vertex Pharmaceuticals Incorporated will post 16.74 earnings per share for the current fiscal year.

More Vertex Pharmaceuticals News

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

• Positive Sentiment: Analysts are broadly bullish on Vertex, supporting investor confidence in the company’s long-term growth prospects. Analysts Are Bullish on These Healthcare Stocks: Vertex Pharmaceuticals (VRTX), Oxford BioMedica (OXBDF)
• Positive Sentiment: Several earnings previews anticipate a third-quarter beat, citing resilient demand for the cystic-fibrosis franchise Trikafta, growth from Alyftrek, and rising sales of Casgevy and Journavx. Vertex Gears Up to Report Q3 Earnings: Is a Beat in the Cards?
• Positive Sentiment: Investors are increasingly watching whether Casgevy and Journavx can help Vertex achieve management’s approximately $500 million non-cystic-fibrosis revenue target, which would demonstrate progress toward diversification. The $500 Million Non-CF Factor Vertex Investors Can’t Ignore on Nov. 2
• Neutral Sentiment: Vertex is scheduled to report third-quarter results on November 2. The report and management’s outlook are likely to be the next major catalysts for the stock.
• Neutral Sentiment: A comparison with Amgen found that Amgen generates substantially higher absolute revenue, while Vertex has delivered a steadier, gradual upward revenue trend over roughly the past eight quarters. Amgen vs. Vertex Pharmaceuticals: Massive Pharmaceutical Scale vs. Steady Drug Revenue
• Negative Sentiment: Recent ETF net selling and a prior session of underperformance versus broader market gains indicate some near-term selling pressure, though reported short interest was zero as of October 26. ETFs Are Net Sellers of Vertex Pharmaceuticals (VRTX) on Oct. 22

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Evercore raised their price objective on Vertex Pharmaceuticals from $535.00 to $600.00 and gave the stock an "outperform" rating in a research note on Wednesday, September 2nd. Cantor Fitzgerald increased their price objective on Vertex Pharmaceuticals from $590.00 to $595.00 and gave the stock an "overweight" rating in a report on Tuesday, August 4th. Royal Bank Of Canada increased their price target on Vertex Pharmaceuticals from $570.00 to $576.00 and gave the stock an "outperform" rating in a research note on Thursday, October 8th. Morgan Stanley started 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, Daiwa Securities Group lifted their price objective on shares of Vertex Pharmaceuticals from $555.00 to $556.00 and gave the company a "buy" rating in a research note on Tuesday, August 11th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $579.81.

Vertex Pharmaceuticals Company 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 applies expertise in the science of human disease to discover therapies that address significant unmet medical needs.

Vertex is best known for its cystic fibrosis portfolio, which includes Kalydeco, Orkambi, Symdeko/Symkevi, and Trikafta/Kaftrio. These medicines target the underlying cause of cystic fibrosis for patients with specific mutations in the CFTR gene.

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