MetLife Investment Management LLC Sells 1,523 Shares of Vertex Pharmaceuticals Incorporated $VRTX

Key Points

• MetLife Investment Management LLC sold 1,523 shares of Vertex Pharmaceuticals, reducing its position by 2.1%, and holds 72,361 shares valued at approximately $35 million.
• Director Bruce I. Sachs acquired 5,000 shares at $389.68 each, increasing their ownership in Vertex to 45,000 shares, valued at $17.5 million.
• Equities analysts have set varied target prices for Vertex Pharmaceuticals, with a range from $460 to $558, and the company has a current market cap of $101.30 billion.

MetLife Investment Management LLC decreased its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 2.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 72,361 shares of the pharmaceutical company's stock after selling 1,523 shares during the period. MetLife Investment Management LLC's holdings in Vertex Pharmaceuticals were worth $35,082,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Aries Wealth Management bought a new position in Vertex Pharmaceuticals in the first quarter valued at about $293,000. Polar Asset Management Partners Inc. bought a new position in Vertex Pharmaceuticals in the fourth quarter valued at about $22,954,000. Brighton Jones LLC boosted its holdings in Vertex Pharmaceuticals by 45.0% in the first quarter. Brighton Jones LLC now owns 6,421 shares of the pharmaceutical company's stock valued at $3,113,000 after acquiring an additional 1,994 shares during the last quarter. GAMMA Investing LLC boosted its holdings in Vertex Pharmaceuticals by 25.1% during the first quarter. GAMMA Investing LLC now owns 5,002 shares of the pharmaceutical company's stock worth $2,425,000 after buying an additional 1,005 shares during the last quarter. Finally, Stanley Laman Group Ltd. bought a new position in Vertex Pharmaceuticals during the first quarter worth about $486,000. Institutional investors own 90.96% of the company's stock.

Insider Transactions at Vertex Pharmaceuticals

In other news, Director Bruce I. Sachs bought 5,000 shares of the company's stock in a transaction that occurred on Wednesday, August 6th. The shares were acquired at an average price of $389.68 per share, with a total value of $1,948,400.00. Following the transaction, the director owned 45,000 shares in the company, valued at $17,535,600. This represents a 12.50% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.20% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on VRTX shares. Leerink Partners restated a "market perform" rating and set a $503.00 target price (down previously from $550.00) on shares of Vertex Pharmaceuticals in a report on Tuesday, May 6th. Guggenheim reduced their target price on Vertex Pharmaceuticals from $558.00 to $546.00 and set a "buy" rating on the stock in a report on Wednesday, August 6th. Wells Fargo & Company upgraded Vertex Pharmaceuticals from an "equal weight" rating to an "overweight" rating and set a $460.00 target price on the stock in a report on Wednesday, August 6th. Needham & Company LLC restated a "hold" rating on shares of Vertex Pharmaceuticals in a report on Tuesday, May 6th. Finally, Erste Group Bank cut Vertex Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a report on Friday, May 23rd. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and thirteen have issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $497.10.

Vertex Pharmaceuticals Price Performance

NASDAQ VRTX opened at $395.12 on Friday. The firm has a market cap of $101.30 billion, a P/E ratio of 28.24 and a beta of 0.44. The stock's 50-day moving average is $438.99 and its 200-day moving average is $461.34. Vertex Pharmaceuticals Incorporated has a one year low of $362.50 and a one year high of $519.88.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last released its quarterly earnings results on Monday, August 4th. The pharmaceutical company reported $4.52 EPS for the quarter, topping analysts' consensus estimates of $4.24 by $0.28. The company had revenue of $2.94 billion for the quarter, compared to analyst estimates of $2.90 billion. Vertex Pharmaceuticals had a return on equity of 23.91% and a net margin of 31.86%.Vertex Pharmaceuticals's revenue was up 11.3% compared to the same quarter last year. During the same quarter last year, the firm posted ($12.83) earnings per share. Vertex Pharmaceuticals has set its FY 2025 guidance at EPS. Equities analysts anticipate that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current year.

About Vertex Pharmaceuticals

Vertex Pharmaceuticals Incorporated, a biotechnology company, engages in developing and commercializing therapies for treating cystic fibrosis (CF). It markets TRIKAFTA/KAFTRIO for people with CF with at least one F508del mutation for 2 years of age or older; SYMDEKO/SYMKEVI for people with CF for 6 years of age or older; ORKAMBI for CF patients 1 year or older; and KALYDECO for the treatment of patients with 1 year or older who have CF with ivacaftor.

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