Prosight Management LP Invests $8.03 Million in Vertex Pharmaceuticals Incorporated $VRTX

Prosight Management LP purchased a new stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) in the third quarter, Holdings Channel.com reports. The fund purchased 20,500 shares of the pharmaceutical company’s stock, valued at approximately $8,029,000. Vertex Pharmaceuticals accounts for approximately 1.9% of Prosight Management LP’s portfolio, making the stock its 21st largest holding.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Chesapeake Asset Management LLC raised its position in Vertex Pharmaceuticals by 110.0% in the 3rd quarter. Chesapeake Asset Management LLC now owns 63 shares of the pharmaceutical company’s stock valued at $25,000 after purchasing an additional 33 shares during the last quarter. Colonial Trust Co SC grew its holdings in shares of Vertex Pharmaceuticals by 118.8% during the third quarter. Colonial Trust Co SC now owns 70 shares of the pharmaceutical company’s stock worth $27,000 after purchasing an additional 38 shares during the last quarter. Total Investment Management Inc. bought a new stake in shares of Vertex Pharmaceuticals during the second quarter worth $33,000. Financial Network Wealth Advisors LLC increased its stake in shares of Vertex Pharmaceuticals by 50.9% in the third quarter. Financial Network Wealth Advisors LLC now owns 86 shares of the pharmaceutical company’s stock valued at $34,000 after buying an additional 29 shares in the last quarter. Finally, Y.D. More Investments Ltd increased its stake in shares of Vertex Pharmaceuticals by 345.0% in the third quarter. Y.D. More Investments Ltd now owns 89 shares of the pharmaceutical company’s stock valued at $35,000 after buying an additional 69 shares in the last quarter. 90.96% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently issued reports on VRTX. UBS Group upped their price target on shares of Vertex Pharmaceuticals from $535.00 to $545.00 and gave the stock a “buy” rating in a research report on Monday, January 26th. Evercore raised their price objective on shares of Vertex Pharmaceuticals from $475.00 to $530.00 and gave the company an “outperform” rating in a research report on Friday, January 23rd. Truist Financial boosted their target price on shares of Vertex Pharmaceuticals from $490.00 to $525.00 and gave the stock a “buy” rating in a research note on Wednesday. HC Wainwright upped their target price on shares of Vertex Pharmaceuticals from $591.00 to $641.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, Weiss Ratings raised shares of Vertex Pharmaceuticals from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, February 4th. Twenty-three research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Vertex Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus price target of $553.36.

More Vertex Pharmaceuticals News

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

• Positive Sentiment: Several major analysts raised coverage and targets for VRTX, boosting bullish sentiment and shorter-term buying interest. Oppenheimer Raises Vertex Pharmaceuticals (NASDAQ:VRTX) Price Target to $600.00
• Positive Sentiment: Analyst upgrades translated into intraday strength earlier in the week (shares traded notably higher on upgrade headlines), signaling renewed investor appetite. Vertex Pharmaceuticals (NASDAQ:VRTX) Trading 9.9% Higher on Analyst Upgrade
• Positive Sentiment: New research coverage from Jefferies adds another channel for institutional visibility and could support longer-term demand. Vertex Pharmaceuticals (NASDAQ:VRTX) Research Coverage Started at Jefferies Financial Group
• Positive Sentiment: Retail and media interest has picked up — headlines highlighting a recent ~8% jump are drawing attention from momentum traders. This helps explain recent volume spikes and short-term volatility. This Stock Just Jumped By 8%: Is It Too Late to Buy?
• Neutral Sentiment: “Trending stock” write-ups from Zacks/Yahoo summarize catalysts and risks for new readers; useful for context but unlikely to move price by themselves. Vertex Pharmaceuticals Incorporated (VRTX) Is a Trending Stock: Facts to Know Before Betting on It
• Neutral Sentiment: Analyses that list reasons to watch VRTX (growth from cystic fibrosis and extending franchises) and one caution help frame investor decisions but don’t introduce a new catalyst. 2 Reasons to Watch VRTX and 1 to Stay Cautious
• Neutral Sentiment: Long-term performance pieces and market-focus coverage provide background on investor returns and index attention; helpful for positioning but not immediate drivers. If You Invested $1000 In Vertex Pharmaceuticals Stock 20 Years Ago…
• Negative Sentiment: Despite the upgrades, the stock has retraced from the immediate highs — recent intraday declines and a prior small earnings EPS miss (Feb quarter EPS slightly below consensus) leave some investors taking profits. Vertex Pharmaceuticals (VRTX) Registers a Bigger Fall Than the Market

Vertex Pharmaceuticals Stock Performance

VRTX opened at $469.34 on Friday. The company has a fifty day moving average price of $470.03 and a two-hundred day moving average price of $437.76. The firm has a market capitalization of $119.23 billion, a PE ratio of 30.62, a P/E/G ratio of 2.04 and a beta of 0.31. Vertex Pharmaceuticals Incorporated has a 52 week low of $362.50 and a 52 week high of $519.68.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly earnings results on Thursday, February 12th. The pharmaceutical company reported $5.03 earnings per share for the quarter, missing analysts’ consensus estimates of $5.05 by ($0.02). Vertex Pharmaceuticals had a net margin of 32.94% and a return on equity of 24.30%. The company had revenue of $3.19 billion during the quarter, compared to analyst estimates of $3.18 billion. During the same period last year, the company earned $3.98 EPS. The business’s revenue for the quarter was up 9.5% compared to the same quarter last year. Equities analysts forecast that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current year.

Insiders Place Their Bets

In other Vertex Pharmaceuticals news, EVP Jonathan Biller sold 945 shares of the firm’s stock in a transaction dated Wednesday, February 25th. The stock was sold at an average price of $486.35, for a total transaction of $459,600.75. Following the transaction, the executive vice president owned 13,659 shares in the company, valued at approximately $6,643,054.65. This trade represents a 6.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Ourania Tatsis sold 260 shares of the business’s stock in a transaction dated Wednesday, February 25th. The stock was sold at an average price of $486.35, for a total value of $126,451.00. Following the transaction, the executive vice president owned 46,763 shares of the company’s stock, valued at $22,743,185.05. The trade was a 0.55% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 91,156 shares of company stock valued at $42,845,497 in the last ninety days. 0.20% of the stock is currently owned by insiders.

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.