Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Shares Sold by MML Investors Services LLC

MML Investors Services LLC decreased its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 24.7% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 36,219 shares of the pharmaceutical company's stock after selling 11,858 shares during the quarter. MML Investors Services LLC's holdings in Vertex Pharmaceuticals were worth $14,585,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of VRTX. Advisory Resource Group raised its holdings in Vertex Pharmaceuticals by 3.2% during the third quarter. Advisory Resource Group now owns 1,970 shares of the pharmaceutical company's stock worth $916,000 after purchasing an additional 61 shares during the last quarter. Anchor Investment Management LLC raised its stake in shares of Vertex Pharmaceuticals by 1,352.3% during the 3rd quarter. Anchor Investment Management LLC now owns 1,583 shares of the pharmaceutical company's stock worth $736,000 after buying an additional 1,474 shares during the last quarter. World Investment Advisors LLC purchased a new stake in shares of Vertex Pharmaceuticals in the 3rd quarter worth about $24,280,000. Wilmington Savings Fund Society FSB acquired a new stake in Vertex Pharmaceuticals in the 3rd quarter valued at about $2,187,000. Finally, Destination Wealth Management increased its holdings in Vertex Pharmaceuticals by 4.5% during the 3rd quarter. Destination Wealth Management now owns 3,361 shares of the pharmaceutical company's stock valued at $1,563,000 after acquiring an additional 144 shares in the last quarter. Institutional investors and hedge funds own 90.96% of the company's stock.

Insider Activity

In other news, EVP David Altshuler sold 3,231 shares of the business's stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $500.00, for a total value of $1,615,500.00. Following the completion of the sale, the executive vice president now owns 26,512 shares of the company's stock, valued at approximately $13,256,000. The trade was a 10.86 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Ourania Tatsis sold 310 shares of the stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $459.83, for a total transaction of $142,547.30. Following the transaction, the executive vice president now directly owns 64,021 shares in the company, valued at $29,438,776.43. The trade was a 0.48 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 4,315 shares of company stock worth $2,121,012. 0.20% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on VRTX shares. Piper Sandler lowered their price target on shares of Vertex Pharmaceuticals from $535.00 to $533.00 and set an "overweight" rating on the stock in a research report on Monday, January 27th. Royal Bank of Canada raised their price target on Vertex Pharmaceuticals from $408.00 to $420.00 and gave the stock a "sector perform" rating in a research report on Tuesday, April 1st. BMO Capital Markets set a $545.00 price objective on Vertex Pharmaceuticals in a research report on Friday, January 31st. Cantor Fitzgerald reiterated an "overweight" rating and set a $535.00 price objective on shares of Vertex Pharmaceuticals in a research report on Tuesday, April 22nd. Finally, Canaccord Genuity Group raised shares of Vertex Pharmaceuticals from a "sell" rating to a "hold" rating and raised their price target for the stock from $408.00 to $424.00 in a research note on Tuesday, February 11th. Ten investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $514.91.

Vertex Pharmaceuticals Stock Down 0.1 %

Shares of VRTX stock traded down $0.45 during trading hours on Monday, reaching $493.39. The company had a trading volume of 280,854 shares, compared to its average volume of 1,333,247. The stock's fifty day simple moving average is $489.78 and its 200 day simple moving average is $466.28. The company has a market capitalization of $126.70 billion, a P/E ratio of -223.95, a price-to-earnings-growth ratio of 2.11 and a beta of 0.50. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.35 and a current ratio of 2.69. Vertex Pharmaceuticals Incorporated has a twelve month low of $377.85 and a twelve month high of $519.88.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last posted its quarterly earnings data on Monday, February 10th. The pharmaceutical company reported $3.54 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.99 by ($0.45). Vertex Pharmaceuticals had a negative net margin of 4.86% and a negative return on equity of 2.02%. As a group, sell-side analysts expect that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current fiscal year.

Vertex Pharmaceuticals Profile

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.