Swedbank AB Purchases 10,810 Shares of Vertex Pharmaceuticals Incorporated $VRTX

Swedbank AB grew its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 4.1% in the 1st quarter, Holdings Channel reports. The institutional investor owned 271,553 shares of the pharmaceutical company’s stock after purchasing an additional 10,810 shares during the period. Swedbank AB’s holdings in Vertex Pharmaceuticals were worth $121,259,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in VRTX. Earned Wealth Advisors LLC boosted its holdings in Vertex Pharmaceuticals by 3.3% in the fourth quarter. Earned Wealth Advisors LLC now owns 650 shares of the pharmaceutical company’s stock valued at $295,000 after acquiring an additional 21 shares during the last quarter. Confluence Wealth Services Inc. raised its holdings in Vertex Pharmaceuticals by 4.0% during the 4th quarter. Confluence Wealth Services Inc. now owns 545 shares of the pharmaceutical company’s stock worth $247,000 after purchasing an additional 21 shares during the last quarter. Williams Jones Wealth Management LLC. raised its holdings in Vertex Pharmaceuticals by 1.9% during the 4th quarter. Williams Jones Wealth Management LLC. now owns 1,155 shares of the pharmaceutical company’s stock worth $524,000 after purchasing an additional 21 shares during the last quarter. Childress Capital Advisors LLC lifted its position in Vertex Pharmaceuticals by 3.1% during the 4th quarter. Childress Capital Advisors LLC now owns 730 shares of the pharmaceutical company’s stock valued at $331,000 after purchasing an additional 22 shares during the period. Finally, Central Pacific Bank Trust Division boosted its stake in shares of Vertex Pharmaceuticals by 0.5% in the 4th quarter. Central Pacific Bank Trust Division now owns 5,026 shares of the pharmaceutical company’s stock valued at $2,279,000 after purchasing an additional 24 shares during the last quarter. Institutional investors own 90.96% of the company’s stock.

Key Headlines Impacting Vertex Pharmaceuticals

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

• Positive Sentiment: Vertex’s acquisition of Crinetics gives it an immediate entry into rare endocrine disease, broadens its pipeline, and could add meaningful long-term revenue growth. Vertex to Acquire Crinetics Pharmaceuticals
• Positive Sentiment: The deal includes an approved drug and a late-stage candidate, which should reduce development risk and strengthen Vertex’s growth story beyond its core cystic fibrosis franchise. Vertex’s Crinetics Deal Balances Growth with Integration Risk
• Neutral Sentiment: Several reports noted that Vertex shares pulled back modestly after the announcement, suggesting some investors may be weighing integration risk and the size of the cash outlay. M&A News: Vertex Stock Slips After Announcing $10B Crinetics Acquisition
• Neutral Sentiment: Two Vertex executives also disclosed pre-planned stock sales, but the trades were executed under Rule 10b5-1 plans, making them less likely to signal a change in fundamentals. SEC filing for Duncan Mckechnie
• Neutral Sentiment: Another executive sale was disclosed under a pre-arranged trading plan, which may add some headline noise but does not necessarily indicate insider concern. SEC filing for Ourania Tatsis

Vertex Pharmaceuticals Price Performance

Vertex Pharmaceuticals stock opened at $522.25 on Wednesday. The firm has a market capitalization of $132.55 billion, a price-to-earnings ratio of 30.98, a PEG ratio of 2.27 and a beta of 0.29. The company’s 50 day simple moving average is $453.10 and its 200 day simple moving average is $457.50. Vertex Pharmaceuticals Incorporated has a fifty-two week low of $362.50 and a fifty-two week high of $533.67.

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

Insider Buying and Selling at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, Director Sangeeta N. Bhatia sold 318 shares of the stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $423.73, for a total value of $134,746.14. Following the completion of the sale, the director directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Duncan Mckechnie sold 1,541 shares of the business’s stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $519.00, for a total value of $799,779.00. Following the completion of the transaction, the executive vice president owned 11,001 shares of the company’s stock, valued at $5,709,519. This represents a 12.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 18,874 shares of company stock worth $8,707,966 in the last three months. 0.20% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. HC Wainwright lifted their price target on shares of Vertex Pharmaceuticals from $591.00 to $641.00 and gave the stock a “buy” rating in a research report on Tuesday, March 10th. Maxim Group raised shares of Vertex Pharmaceuticals from a “hold” rating to a “buy” rating and set a $575.00 price objective on the stock in a research note on Wednesday, March 18th. Canaccord Genuity Group lowered their target price on shares of Vertex Pharmaceuticals from $437.00 to $436.00 and set a “hold” rating for the company in a report on Tuesday, May 5th. Wall Street Zen cut shares of Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Sunday, June 28th. Finally, Barclays increased their price target on Vertex Pharmaceuticals from $607.00 to $615.00 and gave the company an “overweight” rating in a research note on Wednesday, May 6th. Twenty-one investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $557.09.

Vertex Pharmaceuticals 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.