First Trust Advisors LP Sells 99,731 Shares of Vertex Pharmaceuticals Incorporated $VRTX

First Trust Advisors LP lowered its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 34.6% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 188,161 shares of the pharmaceutical company’s stock after selling 99,731 shares during the period. First Trust Advisors LP owned approximately 0.07% of Vertex Pharmaceuticals worth $73,691,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Brighton Jones LLC increased its position in shares of Vertex Pharmaceuticals by 15.0% during the fourth quarter. Brighton Jones LLC now owns 4,427 shares of the pharmaceutical company’s stock worth $1,783,000 after purchasing an additional 579 shares in the last quarter. AE Wealth Management LLC boosted its position in shares of Vertex Pharmaceuticals by 112.0% in the 2nd quarter. AE Wealth Management LLC now owns 2,468 shares of the pharmaceutical company’s stock worth $1,099,000 after purchasing an additional 1,304 shares in the last quarter. Prospera Financial Services Inc boosted its position in shares of Vertex Pharmaceuticals by 237.7% in the 2nd quarter. Prospera Financial Services Inc now owns 10,235 shares of the pharmaceutical company’s stock worth $4,557,000 after purchasing an additional 7,204 shares in the last quarter. Sound View Wealth Advisors Group LLC grew its stake in Vertex Pharmaceuticals by 2.7% during the 2nd quarter. Sound View Wealth Advisors Group LLC now owns 3,624 shares of the pharmaceutical company’s stock worth $1,613,000 after buying an additional 94 shares during the last quarter. Finally, Midwest Trust Co purchased a new position in Vertex Pharmaceuticals during the 2nd quarter worth $254,000. Institutional investors own 90.96% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Cantor Fitzgerald reiterated an “overweight” rating and issued a $590.00 price target on shares of Vertex Pharmaceuticals in a research note on Friday, February 13th. Wolfe Research upgraded Vertex Pharmaceuticals from a “peer perform” rating to an “outperform” rating and set a $548.00 price target on the stock in a research note on Tuesday, January 6th. Royal Bank Of Canada cut their price objective on shares of Vertex Pharmaceuticals from $546.00 to $541.00 and set an “outperform” rating on the stock in a report on Friday, February 13th. Wells Fargo & Company increased their price objective on shares of Vertex Pharmaceuticals from $460.00 to $515.00 and gave the company an “overweight” rating in a research report on Wednesday, December 10th. Finally, Sanford C. Bernstein reiterated an “outperform” rating and issued a $577.00 target price on shares of Vertex Pharmaceuticals in a research note on Friday, February 13th. Twenty-two research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $542.00.

Key Headlines Impacting Vertex Pharmaceuticals

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

• Positive Sentiment: RAINIER interim results: The company said a pre?specified Week?36 interim analysis of the Phase 3 RAINIER trial of povetacicept met the primary objective and all secondary endpoints, citing meaningful efficacy vs. placebo in adults with IgA nephropathy — the core catalyst driving the move. Business Wire release
• Positive Sentiment: Analyst reinforcement: William Blair’s Myles Minter reiterated a Buy and said confidence in povetacicept’s profile has increased after the RAINIER readout, strengthening the bullish investment case for VRTX. Analyst backing amplifies the positive reaction. TipRanks/William Blair note
• Positive Sentiment: Perception of high commercial potential: Coverage notes that povetacicept — acquired in a multibillion?dollar deal — could be a best?in?class therapy in a competitive kidney disease market, supporting a longer?term revenue upside if full data and approvals follow. BioPharmaDive article
• Neutral Sentiment: Market reaction and headlines: Media and trading outlets reported a sharp after?hours/share surge following the announcement; that immediate momentum reflects sentiment but may be volatile as investors digest details and next steps. Benzinga coverage
• Negative Sentiment: Ongoing uncertainty: These are interim results from an ongoing trial — final RAINIER readout, safety follow?up, regulatory timelines and payer/commercial execution remain unknown. Investors should weigh upside against the risk that final data or regulatory review could change the outlook. Yahoo Finance release

Insider Transactions at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, EVP Ourania Tatsis sold 260 shares of Vertex Pharmaceuticals stock in a transaction that occurred on Wednesday, February 25th. The shares were sold at an average price of $486.35, for a total transaction of $126,451.00. Following the completion of the sale, the executive vice president directly owned 46,763 shares in the company, valued at approximately $22,743,185.05. The trade was a 0.55% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Jonathan Biller sold 945 shares of the company’s stock in a transaction on Wednesday, February 25th. The shares were sold at an average price of $486.35, for a total transaction of $459,600.75. Following the completion of the sale, the executive vice president directly owned 13,659 shares in the company, valued at $6,643,054.65. This trade represents a 6.47% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 91,156 shares of company stock valued at $42,845,497 over the last quarter. Company insiders own 0.20% of the company’s stock.

Vertex Pharmaceuticals Stock Performance

Shares of VRTX opened at $460.87 on Tuesday. The stock has a 50-day moving average of $467.50 and a two-hundred day moving average of $435.79. The stock has a market cap of $117.07 billion, a P/E ratio of 30.06 and a beta of 0.31. Vertex Pharmaceuticals Incorporated has a one year low of $362.50 and a one year high of $519.68.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings data on Thursday, February 12th. The pharmaceutical company reported $5.03 earnings per share for the quarter, missing analysts’ consensus estimates of $5.05 by ($0.02). Vertex Pharmaceuticals had a net margin of 32.94% and a return on equity of 24.30%. The firm had revenue of $3.19 billion during the quarter, compared to analyst estimates of $3.18 billion. During the same period in the prior year, the company posted $3.98 earnings per share. The firm’s revenue for the quarter was up 9.5% on a year-over-year basis. Analysts predict that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current fiscal year.

Vertex Pharmaceuticals Company Profile

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.