B. Metzler seel. Sohn & Co. AG Cuts Stake in Vertex Pharmaceuticals Incorporated $VRTX

B. Metzler seel. Sohn & Co. AG reduced its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 1.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 315,422 shares of the pharmaceutical company’s stock after selling 4,199 shares during the period. Vertex Pharmaceuticals comprises 1.1% of B. Metzler seel. Sohn & Co. AG’s investment portfolio, making the stock its 22nd largest position. B. Metzler seel. Sohn & Co. AG owned 0.12% of Vertex Pharmaceuticals worth $123,532,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Brighton Jones LLC boosted its holdings in Vertex Pharmaceuticals by 15.0% in the fourth quarter. Brighton Jones LLC now owns 4,427 shares of the pharmaceutical company’s stock valued at $1,783,000 after acquiring an additional 579 shares in the last quarter. Golden State Wealth Management LLC lifted its holdings in shares of Vertex Pharmaceuticals by 169.5% during the second quarter. Golden State Wealth Management LLC now owns 256 shares of the pharmaceutical company’s stock valued at $114,000 after purchasing an additional 161 shares during the last quarter. Bryn Mawr Trust Advisors LLC boosted its holdings in Vertex Pharmaceuticals by 81.1% in the second quarter. Bryn Mawr Trust Advisors LLC now owns 826 shares of the pharmaceutical company’s stock worth $368,000 after acquiring an additional 370 shares in the last quarter. Legacy Investment Solutions LLC purchased a new stake in Vertex Pharmaceuticals during the 2nd quarter valued at about $29,000. Finally, Mark Sheptoff Financial Planning LLC increased its position in shares of Vertex Pharmaceuticals by 0.9% during the second quarter. Mark Sheptoff Financial Planning LLC now owns 10,771 shares of the pharmaceutical company’s stock valued at $4,795,000 after acquiring an additional 100 shares in the last quarter. 90.96% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently weighed in on VRTX shares. Sanford C. Bernstein restated an “outperform” rating and set a $577.00 price objective on shares of Vertex Pharmaceuticals in a research report on Friday, February 13th. HC Wainwright set a $591.00 target price on shares of Vertex Pharmaceuticals in a report on Tuesday, February 17th. Evercore raised their price target on Vertex Pharmaceuticals from $475.00 to $530.00 and gave the company an “outperform” rating in a report on Friday, January 23rd. Leerink Partners upped their target price on shares of Vertex Pharmaceuticals from $456.00 to $525.00 and gave the stock an “outperform” rating in a research report on Monday, December 29th. Finally, Wolfe Research upgraded Vertex Pharmaceuticals from a “peer perform” rating to an “outperform” rating and set a $548.00 price target for the company in a report on Tuesday, January 6th. Twenty-two analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, Vertex Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus price target of $542.00.

Insider Activity at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, EVP Amit Sachdev sold 1,846 shares of the stock in a transaction that occurred on Wednesday, February 25th. The stock was sold at an average price of $486.35, for a total transaction of $897,802.10. Following the completion of the transaction, the executive vice president owned 55,570 shares of the company’s stock, valued at $27,026,469.50. This represents a 3.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Jonathan Biller sold 945 shares of the firm’s stock in a transaction dated Wednesday, February 25th. The stock was sold at an average price of $486.35, for a total transaction of $459,600.75. Following the completion of the transaction, the executive vice president directly owned 13,659 shares in the company, valued at approximately $6,643,054.65. This represents a 6.47% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 91,156 shares of company stock valued at $42,845,497 in the last quarter. 0.20% of the stock is currently owned by insiders.

Vertex Pharmaceuticals Trading Down 0.9%

NASDAQ VRTX opened at $456.69 on Friday. The firm’s fifty day simple moving average is $467.48 and its two-hundred day simple moving average is $435.06. Vertex Pharmaceuticals Incorporated has a 12-month low of $362.50 and a 12-month high of $519.68. The firm has a market capitalization of $116.01 billion, a P/E ratio of 29.79 and a beta of 0.31.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly earnings results on Thursday, February 12th. The pharmaceutical company reported $5.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.05 by ($0.02). Vertex Pharmaceuticals had a return on equity of 24.30% and a net margin of 32.94%.The company had revenue of $3.19 billion during the quarter, compared to analysts’ expectations of $3.18 billion. During the same period in the prior year, the business posted $3.98 EPS. The company’s quarterly revenue was up 9.5% on a year-over-year basis. As a group, sell-side analysts predict that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current fiscal year.

Vertex Pharmaceuticals Profile

Vertex Pharmaceuticals Inc is a Boston-based biotechnology company focused on the discovery, development and commercialization of therapies for serious diseases. Founded in 1989, Vertex built its reputation on research-driven drug development and is best known for its work in cystic fibrosis (CF), where its portfolio of small-molecule CFTR modulators transformed standards of care for many people with the disease. The company operates research and development, manufacturing and commercial organizations and serves patients and healthcare systems in multiple international markets.

Vertex’s marketed products center on CFTR modulators that target the underlying cause of cystic fibrosis rather than just treating symptoms.