Groupama Asset Managment Raises Holdings in Vertex Pharmaceuticals Incorporated $VRTX

Groupama Asset Managment increased its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 276.1% during the 4th quarter, Holdings Channel reports. The fund owned 163,144 shares of the pharmaceutical company’s stock after purchasing an additional 119,763 shares during the quarter. Vertex Pharmaceuticals makes up about 1.1% of Groupama Asset Managment’s investment portfolio, making the stock its 24th largest position. Groupama Asset Managment’s holdings in Vertex Pharmaceuticals were worth $73,963,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Earned Wealth Advisors LLC boosted its position in Vertex Pharmaceuticals by 3.3% in the 4th quarter. Earned Wealth Advisors LLC now owns 650 shares of the pharmaceutical company’s stock worth $295,000 after purchasing an additional 21 shares in the last quarter. Confluence Wealth Services Inc. increased its holdings in shares of Vertex Pharmaceuticals by 4.0% during the 4th quarter. Confluence Wealth Services Inc. now owns 545 shares of the pharmaceutical company’s stock valued at $247,000 after purchasing an additional 21 shares in the last quarter. Williams Jones Wealth Management LLC. lifted its stake in shares of Vertex Pharmaceuticals by 1.9% in the 4th quarter. Williams Jones Wealth Management LLC. now owns 1,155 shares of the pharmaceutical company’s stock valued at $524,000 after purchasing an additional 21 shares during the period. Childress Capital Advisors LLC lifted its stake in shares of Vertex Pharmaceuticals by 3.1% in 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 holdings in 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 buying an additional 24 shares in the last quarter. 90.96% of the stock is currently owned by hedge funds and other institutional investors.

Vertex Pharmaceuticals News Roundup

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

• Positive Sentiment: Vertex remains fundamentally strong, with its last reported quarter beating EPS estimates and revenue rising 8.3% year over year, while analysts still broadly rate the stock a moderate buy with a consensus target above the current share price.
• Neutral Sentiment: The company has continued to attract investor attention as a “trending” biotech name, but the recent articles do not cite any new pipeline, regulatory, or earnings catalyst to explain a bigger move.
• Negative Sentiment: CMO Carmen Bozic sold 4,062 shares at $450 each under a Rule 10b5-1 plan, and the insider transaction may be contributing to cautious trading in VRTX. Article Title
• Negative Sentiment: Recent coverage notes the stock has been slipping even as the broader market gained, suggesting investors may be taking profits or reassessing valuation after the latest run-up. Article Title

Insider Activity at Vertex Pharmaceuticals

In related news, CMO Carmen Bozic sold 6,988 shares of Vertex Pharmaceuticals stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $450.00, for a total value of $3,144,600.00. Following the sale, the chief marketing officer directly owned 26,088 shares in the company, valued at approximately $11,739,600. The trade was a 21.13% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Sangeeta N. Bhatia sold 318 shares of the business’s stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $423.73, for a total value of $134,746.14. Following the sale, the director owned 4,924 shares of the company’s stock, valued at approximately $2,086,446.52. This trade represents a 6.07% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 15,195 shares of company stock valued at $6,801,006. 0.20% of the stock is owned by corporate insiders.

Vertex Pharmaceuticals Stock Down 1.6%

VRTX opened at $451.63 on Friday. The company has a market cap of $114.62 billion, a price-to-earnings ratio of 26.79, a PEG ratio of 1.96 and a beta of 0.30. Vertex Pharmaceuticals Incorporated has a 52-week low of $362.50 and a 52-week high of $507.92. The firm’s fifty day simple moving average is $438.56 and its two-hundred day simple moving average is $453.14.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its earnings results on Monday, May 4th. The pharmaceutical company reported $4.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.24 by $0.23. The business had revenue of $2.99 billion for the quarter, compared to analyst estimates of $2.99 billion. Vertex Pharmaceuticals had a net margin of 35.51% and a return on equity of 23.86%. The company’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same quarter last year, the business earned $4.06 earnings per share. On average, research analysts forecast that Vertex Pharmaceuticals Incorporated will post 17.02 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms recently commented on VRTX. Citigroup raised their price target on shares of Vertex Pharmaceuticals from $575.00 to $585.00 and gave the company a “buy” rating in a research report on Tuesday, March 10th. HC Wainwright increased their target price on shares of Vertex Pharmaceuticals from $591.00 to $641.00 and gave the stock a “buy” rating in a research note on Tuesday, March 10th. Royal Bank Of Canada raised their target price on Vertex Pharmaceuticals from $541.00 to $543.00 and gave the company an “outperform” rating in a research report on Tuesday, May 5th. Barclays lifted 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. Finally, Truist Financial assumed coverage on Vertex Pharmaceuticals in a report on Wednesday, May 27th. They issued a “buy” rating and a $542.00 price target for the company. Twenty-two equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $555.91.

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.