Corebridge Financial Inc. Has $35.46 Million Stock Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Corebridge Financial Inc. raised its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 0.1% in the fourth quarter, according to its most recent disclosure with the SEC. The firm 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 filing with the SEC.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Dunhill Financial LLC grew its position in Vertex Pharmaceuticals by 70.6% in the 3rd quarter. Dunhill Financial LLC now owns 58 shares of the pharmaceutical company’s stock valued at $27,000 after purchasing an additional 24 shares during the period. Brown Lisle Cummings Inc. bought a new position in shares of Vertex Pharmaceuticals in the fourth quarter valued at $30,000. Legacy Investment Solutions LLC acquired a new position in shares of Vertex Pharmaceuticals during the third quarter valued at about $33,000. Truvestments Capital LLC bought a new stake in shares of Vertex Pharmaceuticals during the third quarter worth about $35,000. Finally, Sugar Maple Asset Management LLC acquired a new stake in shares of Vertex Pharmaceuticals in the 4th quarter worth about $35,000. Institutional investors own 90.96% of the company’s stock.

Vertex Pharmaceuticals Stock Performance

NASDAQ VRTX opened at $503.20 on Monday. The firm has a market cap of $129.22 billion, a P/E ratio of -228.73, a price-to-earnings-growth ratio of 2.11 and a beta of 0.41. The company has a quick ratio of 2.35, a current ratio of 2.69 and a debt-to-equity ratio of 0.01. The company’s 50 day moving average is $467.89 and its 200-day moving average is $462.49. Vertex Pharmaceuticals Incorporated has a 12-month low of $377.85 and a 12-month high of $519.88.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its earnings results 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%. Sell-side analysts predict that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current year.

Insider Buying and Selling

In other news, EVP Ourania Tatsis sold 244 shares of the stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $455.06, for a total value of $111,034.64. Following the sale, the executive vice president now directly owns 67,695 shares of the company’s stock, valued at approximately $30,805,286.70. This represents a 0.36 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP David Altshuler sold 3,231 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The shares were 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 directly owns 26,512 shares of the company’s stock, valued at approximately $13,256,000. This represents a 10.86 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 4,315 shares of company stock valued at $2,121,012. Corporate insiders own 0.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on VRTX shares. Piper Sandler decreased their price objective on Vertex Pharmaceuticals from $535.00 to $533.00 and set an “overweight” rating for the company in a report on Monday, January 27th. Cantor Fitzgerald reissued an “overweight” rating and issued a $480.00 price target on shares of Vertex Pharmaceuticals in a research report on Tuesday, February 11th. Oppenheimer downgraded shares of Vertex Pharmaceuticals from an “outperform” rating to a “market perform” rating in a report on Thursday, December 19th. Needham & Company LLC reiterated a “hold” rating on shares of Vertex Pharmaceuticals in a report on Tuesday, February 11th. Finally, Barclays boosted their price target on shares of Vertex Pharmaceuticals from $435.00 to $467.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 11th. Ten equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Vertex Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus target price of $506.70.

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.