Corebridge Financial Inc. Buys 112 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Corebridge Financial Inc. lifted its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 0.1% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 88,046 shares of the pharmaceutical company’s stock after acquiring an additional 112 shares during the period. Corebridge Financial Inc.’s holdings in Vertex Pharmaceuticals were worth $35,456,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Dunhill Financial LLC raised its position in Vertex Pharmaceuticals by 70.6% during the third quarter. Dunhill Financial LLC now owns 58 shares of the pharmaceutical company’s stock valued at $27,000 after purchasing an additional 24 shares in the last quarter. Brown Lisle Cummings Inc. purchased a new position in shares of Vertex Pharmaceuticals during the 4th quarter valued at about $30,000. Legacy Investment Solutions LLC bought a new stake in Vertex Pharmaceuticals in the 3rd quarter worth approximately $33,000. Truvestments Capital LLC purchased a new stake in Vertex Pharmaceuticals in the third quarter worth approximately $35,000. Finally, Sugar Maple Asset Management LLC bought a new position in Vertex Pharmaceuticals during the fourth quarter valued at approximately $35,000. 90.96% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other 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 value of $1,615,500.00. Following the sale, the executive vice president now directly 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 sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Ourania Tatsis sold 310 shares of the company’s stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $459.83, for a total value of $142,547.30. Following the completion of the sale, the executive vice president now 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 90 days, insiders have sold 4,315 shares of company stock worth $2,121,012. Corporate insiders own 0.20% of the company’s stock.

Wall Street Analyst Weigh In

VRTX has been the subject of a number of recent research reports. Piper Sandler lowered their price objective on shares of Vertex Pharmaceuticals from $535.00 to $533.00 and set an “overweight” rating for the company in a report on Monday, January 27th. Wells Fargo & Company lowered shares of Vertex Pharmaceuticals from an “overweight” rating to an “equal weight” rating and set a $460.00 price target for the company. in a research report on Thursday, January 30th. Morgan Stanley lifted their price objective on Vertex Pharmaceuticals from $450.00 to $459.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 11th. Oppenheimer cut Vertex Pharmaceuticals from an “outperform” rating to a “market perform” rating in a report on Thursday, December 19th. Finally, Barclays lifted their price target on Vertex Pharmaceuticals from $435.00 to $467.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 11th. Ten research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Vertex Pharmaceuticals has a consensus rating of “Moderate Buy” and an average price target of $506.70.

Vertex Pharmaceuticals Stock Performance

Vertex Pharmaceuticals stock opened at $503.20 on Monday. Vertex Pharmaceuticals Incorporated has a fifty-two week low of $377.85 and a fifty-two week high of $519.88. The stock’s 50 day simple moving average is $467.89 and its two-hundred day simple moving average is $462.49. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.35 and a current ratio of 2.69. The stock has a market cap of $129.22 billion, a price-to-earnings ratio of -228.73, a PEG ratio of 2.11 and a beta of 0.41.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its quarterly earnings results on Monday, February 10th. The pharmaceutical company reported $3.54 earnings per share for the quarter, missing the consensus estimate 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, analysts expect that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current fiscal 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.