TD Asset Management Inc Reduces Position in Vertex Pharmaceuticals Incorporated $VRTX

TD Asset Management Inc lessened its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 53.2% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 217,539 shares of the pharmaceutical company’s stock after selling 247,634 shares during the quarter. TD Asset Management Inc’s holdings in Vertex Pharmaceuticals were worth $85,197,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of VRTX. Chesapeake Asset Management LLC lifted its stake in shares of Vertex Pharmaceuticals by 110.0% during the 3rd quarter. Chesapeake Asset Management LLC now owns 63 shares of the pharmaceutical company’s stock valued at $25,000 after buying an additional 33 shares in the last quarter. Access Investment Management LLC purchased a new position in Vertex Pharmaceuticals in the 2nd quarter valued at approximately $27,000. Colonial Trust Co SC raised its holdings in Vertex Pharmaceuticals by 118.8% during the 3rd quarter. Colonial Trust Co SC now owns 70 shares of the pharmaceutical company’s stock valued at $27,000 after acquiring an additional 38 shares during the period. Legacy Investment Solutions LLC purchased a new stake in shares of Vertex Pharmaceuticals during the second quarter worth $29,000. Finally, Total Investment Management Inc. bought a new position in shares of Vertex Pharmaceuticals in the second quarter worth $33,000. Hedge funds and other institutional investors own 90.96% of the company’s stock.

Vertex Pharmaceuticals Stock Down 0.6%

NASDAQ:VRTX opened at $480.13 on Friday. The business’s 50-day moving average price is $465.74 and its two-hundred day moving average price is $431.13. Vertex Pharmaceuticals Incorporated has a twelve month low of $362.50 and a twelve month high of $519.68. The stock has a market cap of $121.97 billion, a P/E ratio of 31.32 and a beta of 0.30.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings data on Thursday, February 12th. The pharmaceutical company reported $5.03 EPS for the quarter, missing the consensus estimate of $5.05 by ($0.02). The business had revenue of $3.19 billion for the quarter, compared to analysts’ expectations of $3.18 billion. Vertex Pharmaceuticals had a return on equity of 24.30% and a net margin of 32.94%.The firm’s revenue for the quarter was up 9.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.98 EPS. On average, equities research analysts expect that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current fiscal year.

Analysts Set New Price Targets

VRTX has been the topic of a number of analyst reports. UBS Group boosted their price objective on Vertex Pharmaceuticals from $535.00 to $545.00 and gave the company a “buy” rating in a research note on Monday, January 26th. Leerink Partners lifted their target price on Vertex Pharmaceuticals from $456.00 to $525.00 and gave the company an “outperform” rating in a report on Monday, December 29th. Sanford C. Bernstein reiterated an “outperform” rating and set a $577.00 price target on shares of Vertex Pharmaceuticals in a research report on Friday, February 13th. Weiss Ratings raised shares of Vertex Pharmaceuticals from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, February 4th. Finally, Canaccord Genuity Group raised their price objective on shares of Vertex Pharmaceuticals from $411.00 to $441.00 and gave the company a “hold” rating in a research report on Tuesday, February 17th. Twenty-two equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, Vertex Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus target price of $542.00.

Key Vertex Pharmaceuticals News

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

• Positive Sentiment: Profile of CEO Reshma Kewalramani in TIME highlights strong leadership and continued R&D momentum, which can support investor confidence in Vertex’s long-term pipeline and strategy. Article Title
• Positive Sentiment: Market commentary noting Vertex’s relative performance vs. the Dow suggests the stock still has investor interest and can attract momentum buyers after pullbacks. Article Title
• Neutral Sentiment: General coverage in Nasdaq-100 roundup pieces points to continued attention from index investors and analysts — useful for liquidity and index-fund flows but not an immediate catalyst. Article Title
• Neutral Sentiment: Recent Q4 results (Feb 12) showed revenue growth (~9.5% y/y) but a tiny EPS miss ($5.03 vs. $5.05 consensus). Fundamentals remain strong, but the small miss tempers near-term upside until forward guidance or pipeline news arrives. (Earnings release/public filings)
• Negative Sentiment: Multiple insider sales by several senior execs on Feb 25 — including large disposals such as EVP Duncan McKechnie (4,910 shares; ~21.9% reduction) and several other EVPs/CAO — collectively amount to roughly $4.6M in disclosed sales. Clustered insider selling can trigger short-term selling pressure and signals profit-taking or personal liquidity needs rather than company weakness, but markets often interpret heavy insider sales as a negative near-term indicator. SEC Filing (example)

Insiders Place Their Bets

In other news, Chairman Jeffrey M. Leiden sold 63,781 shares of Vertex Pharmaceuticals stock in a transaction on Wednesday, December 3rd. The shares were sold at an average price of $449.20, for a total transaction of $28,650,425.20. Following the completion of the sale, the chairman directly owned 24,026 shares of the company’s stock, valued at approximately $10,792,479.20. The trade was a 72.64% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Amit Sachdev sold 58,613 shares of the stock in a transaction on Thursday, February 19th. The shares were sold at an average price of $468.83, for a total value of $27,479,532.79. Following the completion of the transaction, the executive vice president directly owned 58,934 shares in the company, valued at approximately $27,630,027.22. This represents a 49.86% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 168,937 shares of company stock worth $77,879,922. 0.20% of the stock is owned by corporate insiders.

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.