Vertex Pharmaceuticals Incorporated $VRTX Stock: Pictet Asset Management Holding SA Increases Holdings

by · The Markets Daily

Pictet Asset Management Holding SA grew its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX – Free Report) by 18.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 641,165 shares of the pharmaceutical company’s stock after purchasing an additional 101,910 shares during the quarter. Pictet Asset Management Holding SA owned approximately 0.25% of Vertex Pharmaceuticals worth $335,831,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in VRTX. Guidance Capital Inc. grew its stake in shares of Vertex Pharmaceuticals by 0.9% in the third quarter. Guidance Capital Inc. now owns 2,230 shares of the pharmaceutical company’s stock worth $1,234,000 after acquiring an additional 19 shares during the last quarter. Bangor Savings Bank boosted its holdings in Vertex Pharmaceuticals by 0.4% during the second quarter. Bangor Savings Bank now owns 4,470 shares of the pharmaceutical company’s stock valued at $2,220,000 after purchasing an additional 20 shares in the last quarter. Trust Point Inc. grew its position in 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 during the period. Integrated Advisors Network LLC grew its holdings in shares of Vertex Pharmaceuticals by 1.4% in the 3rd quarter. Integrated Advisors Network LLC now owns 1,625 shares of the pharmaceutical company’s stock worth $850,000 after purchasing an additional 22 shares during the last quarter. Finally, Glenview Trust Co increased its holdings in shares of Vertex Pharmaceuticals by 0.3% during the third quarter. Glenview Trust Co now owns 6,773 shares of the pharmaceutical company’s stock worth $3,541,000 after buying an additional 22 shares in the last quarter. Institutional investors own 90.96% of the company’s stock.

Analyst Ratings Changes

VRTX has been the subject of several research analyst reports. Sanford C. Bernstein upgraded Vertex Pharmaceuticals to a “strong-buy” rating in a research report on Wednesday, July 29th. TD Cowen lifted their price target on Vertex Pharmaceuticals from $550.00 to $575.00 and gave the company a “buy” rating in a report on Tuesday, November 3rd. Royal Bank Of Canada upped their price target on shares of Vertex Pharmaceuticals from $576.00 to $600.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 3rd. Leerink Partners began coverage on shares of Vertex Pharmaceuticals in a research note on Monday, September 21st. They set an “outperform” rating and a $594.00 price target on the stock. Finally, Cantor Fitzgerald boosted their price objective on Vertex Pharmaceuticals from $595.00 to $619.00 and gave the stock an “overweight” rating in a report on Tuesday, November 3rd. One equities research analyst has rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, Vertex Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus price target of $596.44.

View Our Latest Analysis on VRTX

Trending Headlines about Vertex Pharmaceuticals

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

  • Positive Sentiment: Several analysts reiterated bullish views or raised price targets, including Barclays, Maxim Group, TD Cowen, JPMorgan, Goldman Sachs and Stifel. These updates support the case for further share-price appreciation, though the articles do not provide the revised target figures. Read More. · Read More. · Read More. · Read More.
  • Positive Sentiment: A long-term bullish outlook points to Vertex’s strong cystic fibrosis franchise and its gradual diversification into additional businesses as potential drivers of continued growth. A separate report says core business growth remains steady and diversification is beginning to contribute. Read More. · Read More.
  • Neutral Sentiment: Vertex said management will participate in three upcoming investor conferences. The appearances may provide updates, but the announcement itself does not disclose new business or financial information. Read More.
  • Negative Sentiment: A bearish analysis argues that costs are growing faster than sales and that Vertex may need another major growth driver to justify its valuation. This highlights execution and pipeline risks as investors assess whether diversification can sustain growth. Read More.
  • Negative Sentiment: Not all analysts are more optimistic: Morgan Stanley lowered its expectations for the stock, providing a counterpoint to the recent target increases. Read More.

Vertex Pharmaceuticals Stock Up 0.8%

Shares of Vertex Pharmaceuticals stock opened at $547.09 on Friday. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.34 and a quick ratio of 2.74. The company has a market capitalization of $138.71 billion, a P/E ratio of 35.21, a price-to-earnings-growth ratio of 2.83 and a beta of 0.28. The business has a 50-day moving average of $522.80 and a two-hundred day moving average of $481.95. Vertex Pharmaceuticals Incorporated has a 1 year low of $406.67 and a 1 year high of $568.67.

Vertex Pharmaceuticals (NASDAQ:VRTX – Get Free Report) last announced its quarterly earnings results on Monday, November 2nd. The pharmaceutical company reported $4.76 earnings per share for the quarter, missing analysts’ consensus estimates of $4.82 by ($0.06). The company had revenue of $3.44 billion during the quarter, compared to the consensus estimate of $3.42 billion. Vertex Pharmaceuticals had a net margin of 30.70% and a return on equity of 21.98%. The business’s quarterly revenue was up 11.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $4.80 EPS. As a group, equities analysts predict that Vertex Pharmaceuticals Incorporated will post 16.10 EPS for the current year.

Vertex Pharmaceuticals Profile

(Free Report)

Vertex Pharmaceuticals is a biotechnology company headquartered in Boston, Massachusetts. Founded in 1989, it develops medicines for serious diseases, with a long-standing focus on cystic fibrosis (CF).

Vertex’s CF treatments include medicines that target the underlying protein defect, such as Trikafta/Kaftrio, Alyftrek, Kalydeco, Orkambi and Symdeko/Symkevi. The company also markets Journavx, a non-opioid medicine for acute pain, and partnered with CRISPR Therapeutics to develop Casgevy, a gene-editing treatment for sickle cell disease and transfusion-dependent beta thalassemia.

Vertex serves patients in the United States and international markets, including Europe.

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