Vertex Pharmaceuticals Incorporated $VRTX Shares Sold by Congress Asset Management Co.

Congress Asset Management Co. reduced its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 99.4% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 937 shares of the pharmaceutical company’s stock after selling 159,938 shares during the period. Congress Asset Management Co.’s holdings in Vertex Pharmaceuticals were worth $425,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of VRTX. Central Pacific Bank Trust Division boosted its holdings in shares of Vertex Pharmaceuticals by 0.5% during the fourth quarter. Central Pacific Bank Trust Division now owns 5,026 shares of the pharmaceutical company’s stock worth $2,279,000 after purchasing an additional 24 shares during the last quarter. Hohimer Wealth Management LLC grew its position in shares of Vertex Pharmaceuticals by 1.2% in the second 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 increased its stake in Vertex Pharmaceuticals by 1.8% in the third 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 during the last quarter. Quent Capital LLC lifted its position in Vertex Pharmaceuticals by 5.5% during the third quarter. Quent Capital LLC now owns 501 shares of the pharmaceutical company’s stock worth $196,000 after buying an additional 26 shares during the period. Finally, Washington Trust Advisors Inc. boosted its stake in Vertex Pharmaceuticals by 8.0% in the 3rd quarter. Washington Trust Advisors Inc. now owns 349 shares of the pharmaceutical company’s stock worth $137,000 after buying an additional 26 shares during the last quarter. 90.96% of the stock is currently owned by institutional investors and hedge funds.

Key Stories Impacting Vertex Pharmaceuticals

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

• Positive Sentiment: Truist Financial upgraded Vertex to “strong-buy”, providing near-term analyst momentum and potential buying interest. Read More.
• Positive Sentiment: Erste Group raised its FY2027 EPS estimate for VRTX (to $19.48 from $19.31), signaling growing analyst confidence in Vertex’s longer-term earnings trajectory versus current consensus. Read More.
• Positive Sentiment: Headline coverage notes Vertex recently outperformed the market, reflecting short-term buying interest and positive sentiment among investors. Read More.
• Neutral Sentiment: Commentary pieces suggest recent volatility may present a buying opportunity for long-term investors, but these are opinion-driven and depend on risk tolerance and time horizon. Read More.
• Negative Sentiment: Maze Therapeutics reported positive Phase II data for an APOL1-targeted kidney drug — a potential rival to Vertex’s candidate — introducing competitive risk that could affect Vertex’s addressable market and future revenue assumptions. Read More.

Analyst Ratings Changes

VRTX has been the subject of a number of research analyst reports. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $590.00 price objective on shares of Vertex Pharmaceuticals in a research note on Friday, February 13th. Oppenheimer boosted their target price on shares of Vertex Pharmaceuticals from $540.00 to $600.00 and gave the company an “outperform” rating in a report on Tuesday, March 10th. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $577.00 price target on shares of Vertex Pharmaceuticals in a research report on Friday, February 13th. Morgan Stanley increased their price target on shares of Vertex Pharmaceuticals from $570.00 to $596.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 10th. Finally, Wells Fargo & Company lifted their price target on shares of Vertex Pharmaceuticals from $460.00 to $515.00 and gave the company an “overweight” rating in a report on Wednesday, December 10th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $554.30.

Insider Activity at Vertex Pharmaceuticals

In other 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 transaction, the executive vice president owned 7,284 shares of the company’s stock, valued at approximately $3,542,573.40. This trade represents a 7.84% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Duncan Mckechnie sold 4,910 shares of Vertex Pharmaceuticals stock in a transaction on Wednesday, February 25th. The shares were sold at an average price of $487.65, for a total transaction of $2,394,361.50. Following the transaction, the executive vice president owned 17,559 shares in the company, valued at $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. Insiders sold 93,485 shares of company stock valued at $43,967,586 over the last quarter. Company insiders own 0.20% of the company’s stock.

Vertex Pharmaceuticals Price Performance

NASDAQ VRTX opened at $453.74 on Friday. The firm has a market capitalization of $115.26 billion, a P/E ratio of 29.60, a P/E/G ratio of 1.95 and a beta of 0.31. Vertex Pharmaceuticals Incorporated has a 1-year low of $362.50 and a 1-year high of $510.77. The business’s 50-day simple moving average is $469.27 and its 200-day simple moving average is $441.65.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its earnings results on Thursday, February 12th. The pharmaceutical company reported $5.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.05 by ($0.02). Vertex Pharmaceuticals had a return on equity of 24.30% and a net margin of 32.94%.The business had revenue of $3.19 billion for the quarter, compared to analyst estimates of $3.18 billion. During the same period last year, the company posted $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 expect that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current fiscal 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.