MetLife Investment Management LLC Raises Stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

MetLife Investment Management LLC raised its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 1.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 73,884 shares of the pharmaceutical company’s stock after purchasing an additional 873 shares during the period. MetLife Investment Management LLC’s holdings in Vertex Pharmaceuticals were worth $29,753,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Truvestments Capital LLC grew its holdings in Vertex Pharmaceuticals by 30.3% in the 4th quarter. Truvestments Capital LLC now owns 99 shares of the pharmaceutical company’s stock worth $40,000 after buying an additional 23 shares in the last quarter. Simon Quick Advisors LLC grew its stake in shares of Vertex Pharmaceuticals by 1.1% in the fourth quarter. Simon Quick Advisors LLC now owns 2,236 shares of the pharmaceutical company’s stock worth $900,000 after purchasing an additional 24 shares in the last quarter. Spinnaker Trust increased its holdings in shares of Vertex Pharmaceuticals by 2.1% during the fourth quarter. Spinnaker Trust now owns 1,235 shares of the pharmaceutical company’s stock valued at $497,000 after purchasing an additional 25 shares during the period. Strategic Advisors LLC grew its position in Vertex Pharmaceuticals by 0.6% in the 4th quarter. Strategic Advisors LLC now owns 4,486 shares of the pharmaceutical company’s stock valued at $1,807,000 after buying an additional 25 shares in the last quarter. Finally, Moors & Cabot Inc. lifted its stake in shares of Vertex Pharmaceuticals by 0.7% in the 4th quarter. Moors & Cabot Inc. now owns 3,603 shares of the pharmaceutical company’s stock worth $1,451,000 after acquiring an additional 25 shares during the period. 90.96% of the stock is currently owned by institutional investors and hedge funds.

Vertex Pharmaceuticals Stock Up 0.7 %

VRTX stock opened at $489.10 on Friday. The business has a 50-day moving average of $486.76 and a 200-day moving average of $465.23. Vertex Pharmaceuticals Incorporated has a fifty-two week low of $377.85 and a fifty-two week high of $519.88. The stock has a market capitalization of $125.60 billion, a P/E ratio of -222.32, a P/E/G ratio of 2.11 and a beta of 0.50. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.69 and a quick ratio of 2.35.

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

Insider Transactions at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, EVP David Altshuler sold 3,231 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $500.00, for a total transaction of $1,615,500.00. Following the transaction, the executive vice president now owns 26,512 shares of the company’s stock, valued at $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 through this link. Also, EVP Ourania Tatsis sold 244 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $455.06, for a total value of $111,034.64. Following the completion of the sale, the executive vice president now directly owns 67,695 shares of the company’s stock, valued at approximately $30,805,286.70. The trade was a 0.36 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 4,315 shares of company stock worth $2,121,012 in the last three months. Insiders own 0.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on VRTX. Wells Fargo & Company cut shares of Vertex Pharmaceuticals from an “overweight” rating to an “equal weight” rating and set a $460.00 price target on the stock. in a research report on Thursday, January 30th. Canaccord Genuity Group upgraded shares of Vertex Pharmaceuticals from a “sell” rating to a “hold” rating and lifted their price objective for the stock from $408.00 to $424.00 in a research report on Tuesday, February 11th. Royal Bank of Canada upped their price target on Vertex Pharmaceuticals from $408.00 to $420.00 and gave the company a “sector perform” rating in a research report on Tuesday, April 1st. Cantor Fitzgerald restated an “overweight” rating and set a $480.00 price target on shares of Vertex Pharmaceuticals in a report on Tuesday, February 11th. Finally, JPMorgan Chase & Co. lowered their price target on Vertex Pharmaceuticals from $503.00 to $500.00 and set an “overweight” rating for the company in a research note on Monday, December 23rd. Ten research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $512.41.

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.