Huntington National Bank Trims Position in Vertex Pharmaceuticals Incorporated $VRTX

Huntington National Bank cut its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 11.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 29,447 shares of the pharmaceutical company’s stock after selling 3,965 shares during the period. Huntington National Bank’s holdings in Vertex Pharmaceuticals were worth $11,533,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of VRTX. Kovack Advisors Inc. grew its stake in Vertex Pharmaceuticals by 1.9% during the second quarter. Kovack Advisors Inc. now owns 1,280 shares of the pharmaceutical company’s stock valued at $570,000 after acquiring an additional 24 shares in the last quarter. Hohimer Wealth Management LLC boosted its holdings in Vertex Pharmaceuticals by 1.2% in the 2nd quarter. Hohimer Wealth Management LLC now owns 2,123 shares of the pharmaceutical company’s stock valued at $945,000 after purchasing an additional 26 shares during the period. Legacy Wealth Asset Management LLC grew its position in shares of Vertex Pharmaceuticals by 1.8% during the 3rd quarter. Legacy Wealth Asset Management LLC now owns 1,442 shares of the pharmaceutical company’s stock valued at $565,000 after purchasing an additional 26 shares in the last quarter. Quent Capital LLC increased its holdings in shares of Vertex Pharmaceuticals by 5.5% in the third quarter. Quent Capital LLC now owns 501 shares of the pharmaceutical company’s stock worth $196,000 after purchasing an additional 26 shares during the period. Finally, Washington Trust Advisors Inc. increased its holdings in shares of Vertex Pharmaceuticals by 8.0% in the third quarter. Washington Trust Advisors Inc. now owns 349 shares of the pharmaceutical company’s stock worth $137,000 after purchasing an additional 26 shares during the period. 90.96% of the stock is owned by hedge funds and other institutional investors.

Vertex Pharmaceuticals Price Performance

Shares of VRTX stock opened at $496.83 on Friday. The business has a 50-day moving average of $466.55 and a 200 day moving average of $432.29. Vertex Pharmaceuticals Incorporated has a 1-year low of $362.50 and a 1-year high of $519.68. The stock has a market capitalization of $126.21 billion, a PE ratio of 32.41 and a beta of 0.30.

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 the consensus estimate of $5.05 by ($0.02). Vertex Pharmaceuticals had a net margin of 32.94% and a return on equity of 24.30%. The company had revenue of $3.19 billion during the quarter, compared to the consensus estimate of $3.18 billion. During the same quarter in the previous year, the firm posted $3.98 EPS. The business’s revenue for the quarter was up 9.5% compared to the same quarter last year. Analysts anticipate that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Sanford C. Bernstein restated an “outperform” rating and issued a $577.00 price objective on shares of Vertex Pharmaceuticals in a research report on Friday, February 13th. Barclays upped their target price on shares of Vertex Pharmaceuticals from $606.00 to $607.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 17th. Morgan Stanley restated an “overweight” rating and set a $570.00 price target on shares of Vertex Pharmaceuticals in a research report on Friday, February 13th. Stifel Nicolaus lifted their price target on Vertex Pharmaceuticals from $445.00 to $466.00 and gave the stock a “hold” rating in a research note on Friday, February 13th. Finally, HC Wainwright set a $591.00 price objective on Vertex Pharmaceuticals in a research report on Tuesday, February 17th. Twenty-two research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Vertex Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus target price of $542.00.

More Vertex Pharmaceuticals News

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

• Positive Sentiment: Clinical safety expansion — Vertex announced a new study to evaluate VX?548 (an investigational pain drug) in breastfeeding women, broadening the drug’s safety profile and de?risking development pathways if results are supportive. Vertex Expands VX?548 Safety Profile With New Breastfeeding Study
• Positive Sentiment: Leadership/PR tailwind — TIME profiled CEO Reshma Kewalramani, reinforcing investor confidence in management’s execution and Vertex’s strategy to expand beyond cystic fibrosis. Physician?Scientist Reshma Kewalramani Runs One of Biotech’s Biggest Companies
• Positive Sentiment: Analyst support — recent upgrades and raised price targets (several firms highlighted in coverage) help underpin the stock and attract buy?side interest. MarketBeat VRTX analyst coverage
• Neutral Sentiment: Quarterly fundamentals — Q4 revenue rose ~9.5% y/y and margins remain strong, though EPS missed by $0.02 (reported $5.03 vs. $5.05 consensus); this is a small miss that keeps the longer?term thesis intact but mutes near?term upside. Vertex recent earnings summary
• Neutral Sentiment: Momentum/coverage — pieces asking whether VRTX is outperforming major indices may draw momentum flows but do not represent new fundamental catalysts. Is Vertex Stock Outperforming the Dow?
• Negative Sentiment: Clustered insider selling — multiple senior executives disclosed sales between Feb. 19–25, including a large sale by EVP Amit Sachdev (~58,613 shares, ~ $27.5M) and several other EVPs reducing positions. Such concentrated insider sales can create near?term negative sentiment even if driven by diversification or tax planning. Representative SEC filing: SEC Form 4 – Amit Sachdev
• Negative Sentiment: Additional officer sale — CAO Kristen Ambrose sold 223 shares (minor relative to the EVP sales) but is part of the broader disclosure set that traders are reacting to. Vertex insider sales roundup

Insider Buying and Selling at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, EVP Mark E. Bunnage sold 620 shares of the firm’s stock in a transaction on Wednesday, February 25th. The shares were sold at an average price of $486.35, for a total value of $301,537.00. Following the sale, the executive vice president owned 7,284 shares of the company’s stock, valued at $3,542,573.40. This trade represents a 7.84% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Edward Morrow Atkinson III sold 668 shares of the company’s stock in a transaction dated Wednesday, February 25th. The shares were sold at an average price of $486.35, for a total transaction of $324,881.80. Following the transaction, the executive vice president directly owned 18,432 shares of the company’s stock, valued at approximately $8,964,403.20. This trade represents a 3.50% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 168,937 shares of company stock worth $77,879,922 over the last ninety days. 0.20% of the stock is owned by company 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.