Mystic Asset Management Inc. Purchases New Position in Vertex Pharmaceuticals Incorporated $VRTX

Mystic Asset Management Inc. acquired a new position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 1,284 shares of the pharmaceutical company’s stock, valued at approximately $638,000.

Other institutional investors also recently bought and sold shares of the company. Bangor Savings Bank grew its position in shares of Vertex Pharmaceuticals by 0.4% during the 2nd quarter. Bangor Savings Bank now owns 4,470 shares of the pharmaceutical company’s stock worth $2,220,000 after buying an additional 20 shares in the last quarter. Confluence Wealth Services Inc. raised its holdings in shares of Vertex Pharmaceuticals by 4.0% in the fourth quarter. Confluence Wealth Services Inc. now owns 545 shares of the pharmaceutical company’s stock valued at $247,000 after acquiring an additional 21 shares in the last quarter. Trust Point Inc. raised its holdings in shares of Vertex Pharmaceuticals by 2.7% in the second quarter. Trust Point Inc. now owns 793 shares of the pharmaceutical company’s stock valued at $394,000 after acquiring an additional 21 shares in the last quarter. Williams Jones Wealth Management LLC. lifted its stake in Vertex Pharmaceuticals by 1.9% in the fourth quarter. Williams Jones Wealth Management LLC. now owns 1,155 shares of the pharmaceutical company’s stock worth $524,000 after acquiring an additional 21 shares during the period. Finally, Cannell & Spears LLC grew its holdings in Vertex Pharmaceuticals by 1.2% during the 1st quarter. Cannell & Spears LLC now owns 1,983 shares of the pharmaceutical company’s stock worth $885,000 after acquiring an additional 23 shares in the last quarter. 90.96% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Vertex Pharmaceuticals news, CMO Carmen Bozic sold 596 shares of the business’s stock in a transaction that occurred on Friday, June 26th. The shares were sold at an average price of $482.50, for a total transaction of $287,570.00. Following the sale, the chief marketing officer owned 15,337 shares of the company’s stock, valued at approximately $7,400,102.50. The trade was a 3.74% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Ourania Tatsis sold 1,500 shares of the company’s stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $524.99, for a total transaction of $787,485.00. Following the transaction, the executive vice president owned 45,321 shares in the company, valued at $23,793,071.79. The trade was a 3.20% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 10,464 shares of company stock worth $4,959,397 in the last three months. Corporate insiders own 0.20% of the company’s stock.

Vertex Pharmaceuticals Price Performance

Shares of NASDAQ:VRTX opened at $540.26 on Friday. The business’s 50-day moving average is $490.59 and its 200 day moving average is $465.35. Vertex Pharmaceuticals Incorporated has a 1 year low of $374.17 and a 1 year high of $553.69. The firm has a market capitalization of $137.12 billion, a P/E ratio of 31.45, a P/E/G ratio of 2.28 and a beta of 0.30.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its quarterly earnings results on Monday, August 3rd. The pharmaceutical company reported $4.73 EPS for the quarter, missing analysts’ consensus estimates of $4.74 by ($0.01). Vertex Pharmaceuticals had a net margin of 35.00% and a return on equity of 23.09%. The business had revenue of $3.33 billion during the quarter, compared to analysts’ expectations of $3.23 billion. During the same quarter last year, the business posted $4.52 earnings per share. The company’s quarterly revenue was up 12.5% compared to the same quarter last year. On average, analysts expect that Vertex Pharmaceuticals Incorporated will post 16.86 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Barclays raised their target price on shares of Vertex Pharmaceuticals from $615.00 to $617.00 and gave the company an “overweight” rating in a research report on Wednesday, August 5th. Truist Financial boosted their price objective on shares of Vertex Pharmaceuticals from $560.00 to $565.00 and gave the stock a “buy” rating in a research note on Wednesday, August 5th. Royal Bank Of Canada increased their target price on Vertex Pharmaceuticals from $543.00 to $570.00 and gave the company an “outperform” rating in a research report on Tuesday, July 7th. UBS Group boosted their price target on Vertex Pharmaceuticals from $545.00 to $585.00 and gave the stock a “buy” rating in a research report on Monday, July 13th. Finally, Stifel Nicolaus set a $500.00 price objective on Vertex Pharmaceuticals in a research note on Tuesday, August 4th. One research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $563.50.

Vertex Pharmaceuticals News Roundup

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

• Positive Sentiment: Vertex completed the Phase 2b trial of inaxaplin, its treatment candidate for APOL1-mediated kidney disease. The milestone advances a potentially important non-cystic-fibrosis growth driver and could support future regulatory and commercialization plans. Vertex Advances Kidney Disease Pipeline With Completed Inaxaplin Phase 2b Trial
• Positive Sentiment: Wall Street remains optimistic about VRTX, with BMO Capital reiterating a Buy rating. Analysts point to Vertex’s leadership in cystic fibrosis and potential contributions from newer products and pipeline programs. Vertex Pharmaceuticals Receives a Buy from BMO Capital
• Positive Sentiment: Recent commentary describes cystic fibrosis as a continuing “engine” for Vertex’s rally, suggesting investors expect durable cash generation and additional growth from the company’s dominant franchise. Vertex Pharmaceuticals’ Rally Has a New Engine — and Wall Street Thinks the Best Is Still Ahead
• Neutral Sentiment: Vertex is reportedly entering a new healthcare focus, indicating a broader strategic emphasis beyond its established cystic fibrosis business. The longer-term impact will depend on the specific programs, investment requirements, and commercial potential. Vertex Pharmaceuticals Enters New Healthcare Focus
• Negative Sentiment: Shareholder challenges to Vertex’s proposed acquisition of Crinetics Pharmaceuticals create execution and deal-completion risk. Delays, litigation, or a higher acquisition cost could weigh on sentiment, even though the transaction is intended to expand Vertex’s pipeline. Crinetics Faces Shareholder Challenges to Vertex Merger Deal

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.