Sumitomo Mitsui Trust Group Inc. Has $274.38 Million Position in Vertex Pharmaceuticals Incorporated $VRTX

Sumitomo Mitsui Trust Group Inc. lessened its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 6.1% in the first quarter, Holdings Channel reports. The institutional investor owned 614,448 shares of the pharmaceutical company’s stock after selling 40,022 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Vertex Pharmaceuticals were worth $274,376,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Norges Bank acquired a new stake in shares of Vertex Pharmaceuticals in the fourth quarter valued at about $1,440,149,000. Victory Capital Management Inc. raised its position in shares of Vertex Pharmaceuticals by 49.4% during the fourth quarter. Victory Capital Management Inc. now owns 3,356,766 shares of the pharmaceutical company’s stock worth $1,521,851,000 after acquiring an additional 1,109,200 shares during the last quarter. Capital Research Global Investors lifted its stake in shares of Vertex Pharmaceuticals by 4.6% in the fourth quarter. Capital Research Global Investors now owns 17,316,344 shares of the pharmaceutical company’s stock worth $7,850,544,000 after acquiring an additional 763,063 shares during the period. Life Cycle Investment Partners Ltd acquired a new position in shares of Vertex Pharmaceuticals in the fourth quarter worth approximately $166,317,000. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in Vertex Pharmaceuticals by 520.1% in the third quarter. Arrowstreet Capital Limited Partnership now owns 381,195 shares of the pharmaceutical company’s stock valued at $149,291,000 after acquiring an additional 319,725 shares during the last quarter. 90.96% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

VRTX has been the subject of a number of recent analyst reports. Royal Bank Of Canada increased their target price on shares of Vertex Pharmaceuticals from $543.00 to $570.00 and gave the company an “outperform” rating in a research report on Tuesday. Weiss Ratings downgraded shares of Vertex Pharmaceuticals from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, June 30th. Barclays increased their price objective on shares of Vertex Pharmaceuticals from $607.00 to $615.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 6th. Wall Street Zen lowered shares of Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Sunday, June 28th. Finally, Morgan Stanley upped their price target on shares of Vertex Pharmaceuticals from $612.00 to $616.00 and gave the company an “overweight” rating in a research report on Tuesday, May 5th. Twenty-one investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $557.09.

Vertex Pharmaceuticals Stock Down 4.6%

Vertex Pharmaceuticals stock opened at $498.43 on Thursday. Vertex Pharmaceuticals Incorporated has a 12-month low of $362.50 and a 12-month high of $533.67. The firm’s fifty day moving average is $454.55 and its 200 day moving average is $457.86. The company has a market capitalization of $126.50 billion, a PE ratio of 29.56, a PEG ratio of 2.23 and a beta of 0.29.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its earnings results on Monday, May 4th. The pharmaceutical company reported $4.47 earnings per share (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 analyst estimates of $2.99 billion. Vertex Pharmaceuticals had a net margin of 35.51% and a return on equity of 23.86%. Vertex Pharmaceuticals’s revenue was up 8.3% on a year-over-year basis. During the same period in the prior year, the firm earned $4.06 earnings per share. Sell-side analysts expect that Vertex Pharmaceuticals Incorporated will post 17.02 EPS for the current fiscal year.

Vertex Pharmaceuticals News Roundup

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

• Positive Sentiment: The Crinetics deal could broaden Vertex’s growth profile, giving it immediate revenue from PALSONIFY and adding Atumelnant, a Phase 3 asset in congenital adrenal hyperplasia. Vertex to Acquire Crinetics Pharmaceuticals
• Positive Sentiment: Analysts and market commentary continue to frame the acquisition as a strategic fit that strengthens Vertex’s rare-disease pipeline and supports longer-term revenue diversification. Vertex’s Crinetics Deal Balances Growth with Integration Risk
• Positive Sentiment: Several broker notes remain constructive on VRTX, including Citi and other firms reiterating bullish views after the deal announcement. Citi Remains a Buy on Vertex Pharmaceuticals (VRTX)
• Neutral Sentiment: Vertex also disclosed a pre-planned insider stock sale, but the transaction was made under a Rule 10b5-1 plan, so it is unlikely to be read as a fundamental warning sign. SEC filing for Ourania Tatsis
• Negative Sentiment: Some investors appear cautious about the size of the cash deal, integration execution, and whether Vertex is paying a full price, which may be putting pressure on the shares. Crinetics Pharmaceuticals Investor Alert

Insider Buying and Selling

In other Vertex Pharmaceuticals news, EVP Ourania Tatsis sold 1,500 shares of Vertex Pharmaceuticals stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $524.99, for a total transaction of $787,485.00. Following the completion of the transaction, the executive vice president owned 45,321 shares in the company, valued at approximately $23,793,071.79. The trade was a 3.20% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CMO Carmen Bozic sold 6,988 shares of Vertex Pharmaceuticals stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $450.00, for a total value of $3,144,600.00. Following the transaction, 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 disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 18,874 shares of company stock worth $8,707,966 over the last quarter. Corporate insiders own 0.20% of the company’s stock.

Vertex Pharmaceuticals Company 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.