Capital Research Global Investors Increases Stake in Vertex Pharmaceuticals Incorporated $VRTX

Capital Research Global Investors raised its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 2.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 16,553,281 shares of the pharmaceutical company’s stock after acquiring an additional 444,990 shares during the quarter. Vertex Pharmaceuticals makes up 1.2% of Capital Research Global Investors’ portfolio, making the stock its 17th largest holding. Capital Research Global Investors owned 6.52% of Vertex Pharmaceuticals worth $6,482,978,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of VRTX. Chesapeake Asset Management LLC raised its holdings in Vertex Pharmaceuticals by 110.0% in the 3rd quarter. Chesapeake Asset Management LLC now owns 63 shares of the pharmaceutical company’s stock worth $25,000 after purchasing an additional 33 shares during the period. Colonial Trust Co SC lifted its position in Vertex Pharmaceuticals by 118.8% during 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. Total Investment Management Inc. bought a new stake in Vertex Pharmaceuticals during the second quarter valued at about $33,000. Financial Network Wealth Advisors LLC grew its holdings in Vertex Pharmaceuticals by 50.9% during the third quarter. Financial Network Wealth Advisors LLC now owns 86 shares of the pharmaceutical company’s stock valued at $34,000 after purchasing an additional 29 shares during the period. Finally, Y.D. More Investments Ltd grew its holdings in Vertex Pharmaceuticals by 345.0% during the third quarter. Y.D. More Investments Ltd now owns 89 shares of the pharmaceutical company’s stock valued at $35,000 after purchasing an additional 69 shares during the period. Institutional investors own 90.96% of the company’s stock.

Key Vertex Pharmaceuticals News

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

• Positive Sentiment: RAINIER Phase 3 interim analysis met the primary endpoint and all secondary endpoints at Week 36, with treated patients showing the intended benefit versus placebo — a major validation step for povetacicept in IgA nephropathy. Vertex Announces Positive Week 36 Interim Analysis Results (BusinessWire)
• Positive Sentiment: Management plans an FDA filing for povetacicept by March, accelerating the regulatory timeline and shortening the path to potential commercialization if final data and review go smoothly. Vertex Stock Surges After Positive Kidney Disease Trial Results (Blockonomi)
• Positive Sentiment: Analysts have reiterated and strengthened bullish views — William Blair’s Myles Minter reiterated a Buy and highlighted increased confidence in povetacicept’s commercial potential, supporting upside to consensus models. Analyst Confidence Boosts Buy Thesis (TipRanks)
• Positive Sentiment: Market reaction: shares rallied in extended trading after the release; coverage notes the asset was acquired in a prior multibillion-dollar deal and is viewed as having “best?in?class” potential in a competitive kidney disease market. Vertex Kidney Drug Hits Mark in Late-Stage Study (BioPharmaDive)
• Neutral Sentiment: The result cited is an interim analysis of an ongoing trial — final RAINIER readout, full safety dataset, and regulatory review still lie ahead, so approval and peak sales remain subject to execution and FDA assessment. Press Release / Interim Analysis Details (Yahoo Finance)

Insider Transactions at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, EVP Amit Sachdev sold 1,846 shares of the firm’s stock in a transaction that occurred on Wednesday, February 25th. The stock was sold at an average price of $486.35, for a total transaction of $897,802.10. Following the completion of the transaction, the executive vice president owned 55,570 shares in the company, valued at $27,026,469.50. This trade represents a 3.22% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Duncan Mckechnie sold 4,910 shares of Vertex Pharmaceuticals stock in a transaction that occurred on Wednesday, February 25th. The stock was sold at an average price of $487.65, for a total value of $2,394,361.50. Following the completion of the sale, the executive vice president directly owned 17,559 shares in the company, valued at approximately $8,562,646.35. The trade was a 21.85% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 91,156 shares of company stock valued at $42,845,497. 0.20% of the stock is owned by insiders.

Vertex Pharmaceuticals Stock Performance

VRTX opened at $460.87 on Tuesday. The stock has a market capitalization of $117.07 billion, a price-to-earnings ratio of 30.06 and a beta of 0.31. The company has a fifty day moving average of $467.50 and a 200 day moving average of $435.79. Vertex Pharmaceuticals Incorporated has a fifty-two week low of $362.50 and a fifty-two week high of $519.68.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings results on Thursday, February 12th. The pharmaceutical company reported $5.03 EPS for the quarter, missing the consensus estimate of $5.05 by ($0.02). Vertex Pharmaceuticals had a return on equity of 24.30% and a net margin of 32.94%.The company had revenue of $3.19 billion during the quarter, compared to analysts’ expectations of $3.18 billion. During the same quarter in the previous year, the firm earned $3.98 EPS. The firm’s revenue for the quarter was up 9.5% compared to the same quarter last year. On average, equities research analysts forecast that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have recently commented on VRTX. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $590.00 price objective on shares of Vertex Pharmaceuticals in a research note on Friday, February 13th. Morgan Stanley reiterated an “overweight” rating and set a $570.00 price objective on shares of Vertex Pharmaceuticals in a research note on Friday, February 13th. Scotiabank increased their target price on shares of Vertex Pharmaceuticals from $495.00 to $558.00 and gave the stock an “outperform” rating in a report on Friday, February 13th. Evercore raised their target price on shares of Vertex Pharmaceuticals from $475.00 to $530.00 and gave the stock an “outperform” rating in a research note on Friday, January 23rd. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating and set a $577.00 price target on shares of Vertex Pharmaceuticals in a report on Friday, February 13th. Twenty-two research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, Vertex Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus price target of $542.00.

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.