First Horizon Corp Has $6.49 Million Stake in Vertex Pharmaceuticals Incorporated $VRTX

First Horizon Corp raised its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 19.6% in the 1st quarter, HoldingsChannel reports. The firm owned 14,535 shares of the pharmaceutical company’s stock after purchasing an additional 2,380 shares during the quarter. First Horizon Corp’s holdings in Vertex Pharmaceuticals were worth $6,490,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of VRTX. Danske Bank A S bought a new stake in shares of Vertex Pharmaceuticals during the third quarter valued at approximately $64,417,000. Nordea Investment Management AB boosted its position in Vertex Pharmaceuticals by 23.8% in the 4th quarter. Nordea Investment Management AB now owns 447,169 shares of the pharmaceutical company’s stock valued at $202,612,000 after buying an additional 86,084 shares during the last quarter. Cooper Financial Group increased its stake in shares of Vertex Pharmaceuticals by 130.2% in the 4th quarter. Cooper Financial Group now owns 5,341 shares of the pharmaceutical company’s stock valued at $2,421,000 after buying an additional 3,021 shares during the period. Assenagon Asset Management S.A. increased its stake in shares of Vertex Pharmaceuticals by 9.1% in the 4th quarter. Assenagon Asset Management S.A. now owns 832,853 shares of the pharmaceutical company’s stock valued at $377,582,000 after buying an additional 69,150 shares during the period. Finally, Swiss Life Asset Management Ltd raised its position in shares of Vertex Pharmaceuticals by 10.4% during the third quarter. Swiss Life Asset Management Ltd now owns 63,945 shares of the pharmaceutical company’s stock worth $25,043,000 after acquiring an additional 6,045 shares during the last quarter. Institutional investors and hedge funds own 90.96% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Canaccord Genuity Group decreased their price target on Vertex Pharmaceuticals from $437.00 to $436.00 and set a “hold” rating on the stock in a report on Tuesday, May 5th. Weiss Ratings cut Vertex Pharmaceuticals from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, June 30th. Wall Street Zen downgraded shares of Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Sunday, June 28th. Morgan Stanley raised their target price on shares of Vertex Pharmaceuticals from $612.00 to $616.00 and gave the company an “overweight” rating in a research note on Tuesday, May 5th. Finally, Maxim Group upgraded shares of Vertex Pharmaceuticals from a “hold” rating to a “buy” rating and set a $575.00 price target for the company in a research report on Wednesday, March 18th. Twenty-one equities research analysts have rated the stock with a Buy rating and four have given 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 $557.09.

Insider Buying and Selling

In related news, CMO Carmen Bozic sold 596 shares of the business’s stock in a transaction that occurred on Friday, June 26th. The stock was sold at an average price of $482.50, for a total value of $287,570.00. Following the completion of the transaction, the chief marketing officer directly owned 15,337 shares in the company, valued at approximately $7,400,102.50. The trade was a 3.74% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Duncan Mckechnie sold 1,541 shares of the company’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 transaction 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 trade represents a 12.29% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 18,874 shares of company stock valued at $8,707,966. 0.20% of the stock is owned by company insiders.

Key Headlines Impacting Vertex Pharmaceuticals

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

• Positive Sentiment: Vertex’s $10 billion acquisition of Crinetics could accelerate growth beyond cystic fibrosis by adding a marketed endocrine drug and a late-stage pipeline candidate. Vertex (VRTX) Is Buying Crinetics For $10 Billion And Entering Endocrinology
• Positive Sentiment: The FDA’s expanded approval for CASGEVY in children as young as 2 years old strengthens Vertex’s gene-therapy franchise and could widen the product’s commercial reach. Vertex (VRTX) is One of the Best QQQ Stocks to Invest in
• Neutral Sentiment: Some reports note that investors are balancing the growth potential of the Crinetics deal against integration risk and the size of the cash outlay. Vertex’s Crinetics Deal Balances Growth with Integration Risk
• Neutral Sentiment: Recent executive stock sales were disclosed under pre-arranged 10b5-1 plans, which may create headline noise but do not necessarily signal a change in fundamentals. Ourania Tatsis Sells 1,500 Shares of Vertex Pharmaceuticals (NASDAQ:VRTX) Stock
• Neutral Sentiment: Analyst coverage remains broadly supportive, with most firms maintaining Buy ratings and high price targets, though one recent downgrade to Hold adds a bit of caution. Citi Remains a Buy on Vertex Pharmaceuticals (VRTX)

Vertex Pharmaceuticals Stock Down 0.4%

Shares of VRTX stock opened at $496.50 on Friday. Vertex Pharmaceuticals Incorporated has a 12-month low of $362.50 and a 12-month high of $533.67. The firm has a market capitalization of $126.01 billion, a price-to-earnings ratio of 29.45, a price-to-earnings-growth ratio of 2.13 and a beta of 0.29. The firm has a fifty day moving average of $455.88 and a 200-day moving average of $458.14.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings data on Monday, May 4th. The pharmaceutical company reported $4.47 EPS for the quarter, topping the consensus estimate of $4.24 by $0.23. The business had revenue of $2.99 billion for the quarter, compared to the consensus estimate of $2.99 billion. Vertex Pharmaceuticals had a return on equity of 23.86% and a net margin of 35.51%.The firm’s revenue was up 8.3% compared to the same quarter last year. During the same quarter last year, the business posted $4.06 EPS. Research analysts expect that Vertex Pharmaceuticals Incorporated will post 17.06 earnings per share for the current year.

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.