Metis Global Partners LLC Sells 1,581 Shares of Vertex Pharmaceuticals Incorporated $VRTX

Metis Global Partners LLC lessened its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 10.1% in the second quarter, Holdings Channel reports. The institutional investor owned 14,118 shares of the pharmaceutical company’s stock after selling 1,581 shares during the period. Metis Global Partners LLC’s holdings in Vertex Pharmaceuticals were worth $6,285,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in VRTX. United Services Automobile Association bought a new position in shares of Vertex Pharmaceuticals during the 1st quarter worth about $2,933,000. Lee Johnson Capital Management LLC acquired a new position in Vertex Pharmaceuticals during the 2nd quarter worth approximately $721,000. SteelPeak Wealth LLC bought a new position in Vertex Pharmaceuticals in the second quarter worth approximately $10,059,000. Moody Lynn & Lieberson LLC grew its stake in Vertex Pharmaceuticals by 1.4% in the second quarter. Moody Lynn & Lieberson LLC now owns 58,077 shares of the pharmaceutical company’s stock valued at $25,856,000 after acquiring an additional 822 shares during the period. Finally, New England Research & Management Inc. bought a new stake in shares of Vertex Pharmaceuticals during the second quarter valued at approximately $472,000. 90.96% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

VRTX has been the subject of several recent research reports. Wells Fargo & Company raised shares of Vertex Pharmaceuticals from an “equal weight” rating to an “overweight” rating and set a $460.00 target price for the company in a research report on Wednesday, August 6th. Royal Bank Of Canada cut their price target on Vertex Pharmaceuticals from $423.00 to $415.00 and set a “sector perform” rating for the company in a research note on Tuesday. Citigroup increased their price objective on Vertex Pharmaceuticals from $550.00 to $575.00 and gave the stock a “buy” rating in a research note on Thursday, October 2nd. Canaccord Genuity Group cut their target price on Vertex Pharmaceuticals from $424.00 to $411.00 and set a “hold” rating on the stock in a research report on Wednesday, August 6th. Finally, HC Wainwright cut their price target on shares of Vertex Pharmaceuticals from $550.00 to $478.00 and set a “buy” rating on the stock in a report on Tuesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and twelve have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $489.10.

Vertex Pharmaceuticals Stock Down 1.6%

Vertex Pharmaceuticals stock opened at $409.47 on Friday. The firm has a 50 day moving average price of $404.55 and a 200-day moving average price of $429.99. Vertex Pharmaceuticals Incorporated has a twelve month low of $362.50 and a twelve month high of $519.88. The company has a market capitalization of $104.98 billion, a P/E ratio of 29.27 and a beta of 0.36.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly earnings data on Monday, November 3rd. The pharmaceutical company reported $4.80 EPS for the quarter, beating the consensus estimate of $4.58 by $0.22. Vertex Pharmaceuticals had a return on equity of 23.91% and a net margin of 31.86%.The business had revenue of $3.08 billion for the quarter, compared to the consensus estimate of $3.05 billion. During the same quarter in the prior year, the business earned $4.38 earnings per share. Vertex Pharmaceuticals’s revenue for the quarter was up 11.0% on a year-over-year basis. Vertex Pharmaceuticals has set its FY 2025 guidance at EPS. Equities analysts expect that Vertex Pharmaceuticals Incorporated will post 15.63 EPS 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.