VRTX at a glance
Vertex Pharmaceuticals (VRTX, SEC CIK 875320) filed its latest 10-K annual report on February 13, 2026, a 10-Q quarterly report on August 4, 2026, an 8-K current report on September 1, 2026 and Form 4 insider filings as recently as September 10, 2026. SignalX summarizes each filing with AI and tracks the company's insider trades and institutional holders.
- For the fiscal year ended December 31, 2025 (FY2025), Vertex Pharmaceuticals (VRTX) reported revenue of $12.0 billion (up 8.9% from FY2024) and net income of $4.0 billion. Diluted EPS was $15.32.
- As of June 30, 2026, 52 institutional investment managers tracked by SignalX reported holding Vertex Pharmaceuticals (VRTX) shares worth $49.9 billion in 13F-HR filings.
- The most recent insider open-market sale reported on Form 4 was by Tatsis Ourania on July 2, 2026 of 1,500 shares at $524.99 per share.
Source: SEC EDGAR (XBRL financial data, 13F-HR and Form 4 filings).
- Revenue · FY2025
- $12.0B
- +8.9% vs prior year
- Insiders · 90 days
- 0 buys · 0 sells
- No open-market trades
- 13F holders
- 52 funds
- $49.9B · +1 vs prior quarter
- Latest 8-K
- Sep 1, 2026
- Item 5.02
AI 10-K Annual Report Analysis
Latest 10-K, fiscal year ended Dec 31, 2025
Management Discussion & Analysis
- Revenue $12.0B in 2025, up 9% YoY from $11.0B in 2024; TRIKAFTA/KAFTRIO sales $10.3B (1% increase), ALYFTREK $837.8M launched in 2025
- Operating margin approx. 34.7% in 2025 vs 13.8% cost of sales (13.8% of net product revenues), slight improvement from 13.9% in 2024; R&D + SG&A expenses $5.7B up from $5.1B
- Best performing segment: TRIKAFTA/KAFTRIO revenues $10.31B (+1%); Worst: Newly launched CASGEVY $115.8M and JOURNAVX $59.6M, small but growing
- Cash, cash equivalents, marketable securities increased to $12.3B in 2025 from $11.2B in 2024; repurchased shares partially offset; R&D expenses $3.91B (+8%), cost of sales $1.65B (+8%)
- 2026 Outlook: Continued CF revenue growth led by ALYFTREK globally, increased CASGEVY and JOURNAVX revenues; pipeline regulatory submissions expected H1 2026; watch ongoing royalty dispute on ALYFTREK royalty rate
Business Overview
- Core business model: Biopharmaceutical company focused on developing and commercializing transformative medicines
- Emphasis on enhanced cybersecurity governance with dedicated CISO and quarterly Board updates
- Cybersecurity led by CISO with 35+ years’ experience, including federal advisory roles, highlighting heightened focus on cyber risk
- Cybersecurity team holding top certifications conducts regular vulnerability scans, penetration tests, and threat intelligence analysis
- Cybersecurity risk oversight integrated into executive management reporting chain up to CEO, reflecting strategic prioritization
Risk Factors
- Regulatory risk: Impact of Colorado PDAB affordability review on TRIKAFTA pricing with potential upper payment limits under the 2023 state program
- Macroeconomic risk: Ex-U.S. reimbursement delays and government cost-containment efforts impacting pricing and revenue in various international markets
- Operational risk: CASGEVY manufacturing cost significantly higher as a percentage of revenue versus CF medicines, with complex cell collection and administration processes
- Competitive risk: Pressure from lower-cost and advanced competitors in acute and peripheral neuropathic pain markets threatening uptake of JOURNAVX
- Financial risk: Concentrated revenue dependence on CF medicines, exposing business to risks from manufacturing, safety, market acceptance, and pricing challenges
AI summary of the VRTX 10-K filed . Generated from the filing text; verify against the original.View on SEC EDGARHow to read a 10-K
AI 10-Q Quarterly Report Analysis
Latest 10-Q, quarter ended Jun 30, 2026
Risk Factors
- New financing risk triggered by Crinetics acquisition: $4.5B term loan, with $1.0B maturing within 364 days
- Most material financial update: leverage covenant of 3.50-to-1.00, temporarily expandable to 4.00-to-1.00 after material acquisitions
- Regulatory and compliance risk: 2026 Revolver includes subsidiary-debt, lien, and fundamental-change restrictions
- Liquidity risk: $500M revolving facility matures July 30, 2031, with up to $100M available in alternative currencies
- Interest-rate risk: term-loan SOFR margins range from 0.8750% to 1.625% based on leverage or credit rating
AI summary of the VRTX 10-Q filed . Generated from the filing text; verify against the original.View on SEC EDGAR10-K vs 10-Q vs 8-K
AI 8-K Current Report Analysis
The most recent material events, by 8-K item
Item 5.02: Departure/Appointment of Directors or Principal Officers
- Jonathan Poole becomes CFO January 1, 2027, succeeding Charles Wagner, who remains Executive Vice President and COO
- Poole brings Vertex finance experience since March 2020 and prior biotech CFO roles
Item 2.02: Results of Operations and Financial Condition
- Q2 and first-half 2026 consolidated results reported for periods ended June 30, 2026
- Press release attached as Exhibit 99.1, containing detailed financial results and management commentary
Item EX-99.1: Item EX-99.1
- Q2 revenue $3.33B, up 12%; GAAP net income $1.10B, up from $1.03B, supporting continued earnings momentum
- FY2026 revenue guidance raised to $13.1B–$13.2B from $12.95B–$13.1B, signaling stronger commercial execution
Item 7.01: Regulation FD Disclosure
- Boilerplate incorporation language limiting the 7.01 disclosure’s use in future Exchange Act or Securities Act filings
- No substantive business, financial, or operational information disclosed in the provided excerpt
Item 1.01: Entry into a Material Definitive Agreement
- Vertex to acquire Crinetics for $85.00 cash per share, with Crinetics becoming a wholly owned subsidiary
- Deal expected to close in Q3 2026, subject to shareholder approval and antitrust clearances
Item 8.01: Other Events
- Vertex and Parent executed a merger agreement announced July 6, 2026, initiating a proposed acquisition subject to closing conditions
- Transaction targets Vertex’s PALSONIFY and atumelnant pipeline, with stated potential to expand acromegaly and CAH treatment offerings
Item EX-99.1: Item EX-99.1
- Vertex to acquire Crinetics for $85/share cash, valuing equity at $10B and net consideration at $8.8B
- Transaction expected to close Q3 2026, subject to Crinetics shareholder approval and other closing conditions
AI summaries of VRTX 8-K current reports filed with the SEC. What 8-K item codes mean
SignalX for VRTX
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- Fund moves. Which tracked funds opened, added or cut VRTX, by share count.
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Recent Insider Transactions (Form 4)
Latest reported trades by officers, directors and 10% owners
| Insider | Type | Date | Shares | Price |
|---|---|---|---|---|
| van Grunsven Jasper | A | Sep 8, 2026 | 8,682 | - |
| Ambrose Kristen | A | Aug 28, 2026 | 5,000 | - |
| SACHS BRUCE I | G | Aug 27, 2026 | 6,000 | - |
| Sachdev Amit | A | Jul 21, 2026 | 8,251 | - |
| Tatsis Ourania | A | Jul 21, 2026 | 8,251 | - |
| SACHS BRUCE I | A | Jul 15, 2026 | 99.941 | $475.28 |
| Garber Alan M | A | Jul 15, 2026 | 31.56 | $475.28 |
| Tatsis Ourania | Sell | Jul 2, 2026 | 1,500 | $524.99 |
Financial SummaryXBRL
| Metric | FY2023 | FY2024 | FY2025 |
|---|---|---|---|
| Profitability | |||
| Revenue | - | $11.0B | $12.0B |
| Operating Income | - | -$232.9M | $4.2B |
| Net Income | $3.6B | -$535.6M | $4.0B |
| Op. Margin | - | -2.1% | 34.8% |
| Net Margin | - | -4.9% | 32.9% |
| Balance Sheet | |||
| Total Assets | $22.7B | $22.5B | $25.6B |
| Equity | - | $16.4B | $18.7B |
| ROE | - | -3.3% | 21.2% |
| Per Share | |||
| EPS | $13.89 | $-2.08 | $15.32 |
| Cash Flow | |||
| Operating CF | - | -$492.6M | $3.6B |
| CapEx | $200.4M | $297.7M | $437.6M |
Source: XBRL data in Vertex Pharmaceuticals (VRTX)'s 10-K filings on SEC EDGAR, in USD. Compare across companies →
13F Fund Holdings: Quarterly Trend
Latest: Q2 2026Aggregate VRTX share value held by 13F filers tracked by SignalX, by quarter.
Quarterly totals table
| Quarter | Funds | Total value |
|---|---|---|
| Q2 2026 | 52 | $49.90B |
| Q1 2026 | 51 | $43.45B |
| Q4 2025 | 49 | $44.36B |
| Q3 2025 | 49 | $38.95B |
| Q2 2025 | 47 | $42.58B |
| Q1 2025 | 46 | $35.50B |
| Q4 2024 | 43 | $23.94B |
| Q3 2024 | 37 | $12.02B |
- Franklin Resources+2.80M (+507%)
- AQR Capital Management+445.1K (+260%)
- Millennium Management+437.6K (+1420%)
- Dimensional Fund Advisors+179.6K (+18%)
- Citadel Advisors LLC+171.1K (+50%)
- FMR LLC (Fidelity)−563.1K (-28%)
- JPMorgan Chase & Co−515.6K (-7%)
- Vanguard Portfolio Management LLC−266.6K (-5%)
- D.E. Shaw & Co−245.9K (-99%)
- Renaissance Technologies LLC−101.7K (-24%)
Source: 13F-HR filings on SEC EDGAR (aggregated from 374 fund-quarter rows). Reflects only 13F filers tracked by SignalX, not the full institutional ownership universe. How 13F filings work
VRTX filing archive
AI analysis pages for each 10-K, 10-Q and 8-K
10-K annual reports
10-Q quarterly reports
Latest 2026 SEC Filings: 10-K, 10-Q, 8-K & Form 4
| Form | Filing date | Period | Analysis | SEC |
|---|---|---|---|---|
| 4 | Sep 10, 2026 | - | - | - |
| 4 | Sep 1, 2026 | - | - | - |
| 8-K | Sep 1, 2026 | - | Analysis | - |
| 4 | Aug 31, 2026 | - | - | - |
| 10-Q | Aug 4, 2026 | Jun 30, 2026 | Analysis | |
| 8-K | Aug 3, 2026 | - | Analysis | - |
| 4 | Jul 23, 2026 | - | - | - |
| 4 | Jul 23, 2026 | - | - | - |
| 4 | Jul 17, 2026 | - | - | - |
| 4 | Jul 17, 2026 | - | - | - |
| 8-K | Jul 7, 2026 | - | Analysis | - |
| 4 | Jul 7, 2026 | - | - | - |
| 4 | Jul 7, 2026 | - | - | - |
| 4 | Jul 6, 2026 | - | - | - |
| 4 | Jun 30, 2026 | - | - | - |
| 4 | Jun 23, 2026 | - | - | - |
| 4 | Jun 17, 2026 | - | - | - |
| 4 | Jun 9, 2026 | - | - | |
| 4 | May 19, 2026 | - | - | |
| 8-K | May 13, 2026 | - | Analysis | |
| 4 | May 5, 2026 | - | - | - |
| 10-Q | May 5, 2026 | Mar 31, 2026 | Analysis | |
| 4 | May 5, 2026 | - | - | - |
| 4 | May 5, 2026 | - | - | - |
| 4 | May 5, 2026 | - | - | - |
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VRTX SEC filings: frequently asked questions
Which institutions hold VRTX stock?
As of June 30, 2026, the largest Vertex Pharmaceuticals (VRTX) holders among the 13F filers tracked by SignalX were BlackRock ($12.0 billion), Vanguard Capital Management LLC ($8.2 billion), State Street Corp ($5.9 billion), Invesco Ltd ($4.0 billion), JPMorgan Chase & Co ($3.3 billion). 13F-HR reports are filed up to 45 days after each quarter ends.
What was VRTX's revenue in fiscal year 2025?
For the fiscal year ended December 31, 2025 (FY2025), Vertex Pharmaceuticals (VRTX) reported revenue of $12.0 billion (up 8.9% from FY2024) and net income of $4.0 billion. Diluted EPS was $15.32. The figures come from the XBRL data in the 10-K.
What are the main risks in VRTX's latest 10-K?
In the 10-K filed February 13, 2026, Vertex Pharmaceuticals (VRTX) flagged: Regulatory risk: Impact of Colorado PDAB affordability review on TRIKAFTA pricing with potential upper payment limits under the 2023 state program. Macroeconomic risk: Ex-U.S. reimbursement delays and government cost-containment efforts impacting pricing and revenue in various international markets. (AI summary of the Risk Factors section.)
What did VRTX report in its latest 8-K?
Vertex Pharmaceuticals (VRTX) filed an 8-K on September 1, 2026 reporting Item 5.02 (Departure/Appointment of Directors or Principal Officers). Jonathan Poole becomes CFO January 1, 2027, succeeding Charles Wagner, who remains Executive Vice President and COO.
What are the latest VRTX SEC filings?
Vertex Pharmaceuticals (VRTX) filed its latest 10-K annual report on February 13, 2026, a 10-Q quarterly report on August 4, 2026, an 8-K current report on September 1, 2026 and a Form 4 insider filing on September 10, 2026.
What is VRTX's SEC CIK number?
Vertex Pharmaceuticals (VRTX)'s SEC Central Index Key (CIK) is 875320. EDGAR lists every VRTX filing under that number.
Ask anything about VRTX
The research agent reads VRTX's filings, financials, insider trades and 13F holders, then answers with sources.