Andra AP fonden Trims Holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Andra AP fonden decreased its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 14.7% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 69,800 shares of the pharmaceutical company’s stock after selling 12,000 shares during the period. Andra AP fonden’s holdings in Vertex Pharmaceuticals were worth $32,717,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in VRTX. Capital World Investors raised its position in shares of Vertex Pharmaceuticals by 21.3% during the 4th quarter. Capital World Investors now owns 21,805,770 shares of the pharmaceutical company’s stock valued at $8,872,586,000 after purchasing an additional 3,824,103 shares during the period. Norges Bank bought a new stake in shares of Vertex Pharmaceuticals in the fourth quarter worth about $1,237,877,000. Capital Research Global Investors boosted its stake in Vertex Pharmaceuticals by 61.0% during the first quarter. Capital Research Global Investors now owns 5,743,882 shares of the pharmaceutical company’s stock valued at $2,401,000,000 after buying an additional 2,176,218 shares during the last quarter. Jennison Associates LLC increased its stake in Vertex Pharmaceuticals by 21.2% in the 1st quarter. Jennison Associates LLC now owns 4,782,374 shares of the pharmaceutical company’s stock worth $1,999,080,000 after acquiring an additional 837,461 shares during the last quarter. Finally, Swedbank AB purchased a new stake in shares of Vertex Pharmaceuticals during the 1st quarter worth approximately $277,317,000. Hedge funds and other institutional investors own 90.96% of the company’s stock.

Analyst Ratings Changes

VRTX has been the topic of several research reports. Truist Financial restated a “buy” rating and issued a $550.00 price target (up previously from $508.00) on shares of Vertex Pharmaceuticals in a research report on Monday, August 5th. BMO Capital Markets upped their target price on shares of Vertex Pharmaceuticals from $480.00 to $500.00 and gave the company an “outperform” rating in a research report on Friday, May 31st. Oppenheimer lifted their price target on Vertex Pharmaceuticals from $500.00 to $550.00 and gave the stock an “outperform” rating in a research report on Monday, August 5th. Royal Bank of Canada decreased their price objective on Vertex Pharmaceuticals from $424.00 to $421.00 and set a “sector perform” rating on the stock in a research report on Tuesday, June 11th. Finally, Canaccord Genuity Group lifted their target price on Vertex Pharmaceuticals from $371.00 to $376.00 and gave the stock a “sell” rating in a report on Wednesday, July 31st. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $485.91.

Insiders Place Their Bets

In other news, CMO Carmen Bozic sold 2,280 shares of the firm’s stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $478.00, for a total transaction of $1,089,840.00. Following the transaction, the chief marketing officer now owns 32,379 shares in the company, valued at $15,477,162. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Director Sangeeta N. Bhatia sold 646 shares of Vertex Pharmaceuticals stock in a transaction on Friday, August 30th. The stock was sold at an average price of $500.00, for a total value of $323,000.00. Following the transaction, the director now directly owns 4,435 shares in the company, valued at approximately $2,217,500. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CMO Carmen Bozic sold 2,280 shares of the company’s stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $478.00, for a total value of $1,089,840.00. Following the sale, the chief marketing officer now owns 32,379 shares of the company’s stock, valued at $15,477,162. The disclosure for this sale can be found here. In the last ninety days, insiders sold 43,615 shares of company stock worth $21,417,310. 0.20% of the stock is currently owned by company insiders.

Vertex Pharmaceuticals Price Performance

Vertex Pharmaceuticals stock opened at $471.11 on Tuesday. The stock has a market cap of $121.59 billion, a price-to-earnings ratio of 30.57 and a beta of 0.40. The firm has a 50-day moving average of $483.30 and a two-hundred day moving average of $449.09. Vertex Pharmaceuticals Incorporated has a 1 year low of $341.85 and a 1 year high of $510.64. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.52 and a quick ratio of 2.26.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings results on Thursday, August 1st. The pharmaceutical company reported ($12.83) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($12.54) by ($0.29). The firm had revenue of $2.65 billion during the quarter, compared to analysts’ expectations of $2.66 billion. Vertex Pharmaceuticals had a negative net margin of 4.74% and a negative return on equity of 2.45%. The firm’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.53 EPS. On average, research analysts forecast that Vertex Pharmaceuticals Incorporated will post -1.85 earnings per share for the current 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.