E. Ohman J or Asset Management AB Lowers Holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

E. Ohman J or Asset Management AB cut its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 6.8% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 10,310 shares of the pharmaceutical company’s stock after selling 750 shares during the period. E. Ohman J or Asset Management AB’s holdings in Vertex Pharmaceuticals were worth $4,795,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Groesbeck Investment Management Corp NJ boosted its holdings in shares of Vertex Pharmaceuticals by 1.2% in the 2nd quarter. Groesbeck Investment Management Corp NJ now owns 1,794 shares of the pharmaceutical company’s stock valued at $841,000 after buying an additional 21 shares during the period. Institute for Wealth Management LLC. grew its holdings in shares of Vertex Pharmaceuticals by 0.6% during the second quarter. Institute for Wealth Management LLC. now owns 3,586 shares of the pharmaceutical company’s stock valued at $1,681,000 after purchasing an additional 22 shares during the last quarter. Drive Wealth Management LLC lifted its holdings in shares of Vertex Pharmaceuticals by 2.0% in the 2nd quarter. Drive Wealth Management LLC now owns 1,101 shares of the pharmaceutical company’s stock worth $516,000 after purchasing an additional 22 shares during the last quarter. Daymark Wealth Partners LLC grew its stake in Vertex Pharmaceuticals by 2.8% during the 3rd quarter. Daymark Wealth Partners LLC now owns 804 shares of the pharmaceutical company’s stock worth $374,000 after buying an additional 22 shares during the last quarter. Finally, Grove Bank & Trust grew its position in shares of Vertex Pharmaceuticals by 5.7% during the third quarter. Grove Bank & Trust now owns 410 shares of the pharmaceutical company’s stock worth $191,000 after acquiring an additional 22 shares during the last quarter. 90.96% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Cantor Fitzgerald reiterated an “overweight” rating and set a $480.00 price objective on shares of Vertex Pharmaceuticals in a research report on Tuesday, October 8th. Redburn Atlantic assumed coverage on shares of Vertex Pharmaceuticals in a research note on Thursday, June 27th. They set a “buy” rating and a $545.00 price objective on the stock. JPMorgan Chase & Co. increased their target price on shares of Vertex Pharmaceuticals from $505.00 to $510.00 and gave the company an “overweight” rating in a research report on Monday, August 5th. Needham & Company LLC reaffirmed a “hold” rating on shares of Vertex Pharmaceuticals in a research note on Friday, July 26th. Finally, Oppenheimer raised their price objective on shares of Vertex Pharmaceuticals from $500.00 to $550.00 and gave the company an “outperform” rating in a research note on Monday, August 5th. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $492.92.

Vertex Pharmaceuticals Trading Up 0.4 %

Shares of VRTX stock opened at $471.91 on Friday. Vertex Pharmaceuticals Incorporated has a 12 month low of $341.90 and a 12 month high of $510.64. The business’s 50 day moving average is $475.60 and its two-hundred day moving average is $461.29. The company has a quick ratio of 2.26, a current ratio of 2.52 and a debt-to-equity ratio of 0.02. The company has a market cap of $121.80 billion, a PE ratio of -232.47 and a beta of 0.40.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings results on Thursday, August 1st. The pharmaceutical company reported ($12.83) earnings per share (EPS) for the quarter, missing the consensus estimate of ($12.54) by ($0.29). Vertex Pharmaceuticals had a negative net margin of 4.74% and a negative return on equity of 2.45%. The business had revenue of $2.65 billion during the quarter, compared to analyst estimates of $2.66 billion. During the same period in the prior year, the business posted $3.53 earnings per share. The company’s revenue for the quarter was up 6.1% compared to the same quarter last year. Equities analysts predict that Vertex Pharmaceuticals Incorporated will post -2.11 EPS for the current year.

Insiders Place Their Bets

In related news, Director Bruce I. Sachs sold 5,295 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $508.00, for a total transaction of $2,689,860.00. Following the transaction, the director now owns 40,000 shares of the company’s stock, valued at approximately $20,320,000. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, CMO Carmen Bozic sold 2,280 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $476.75, for a total transaction of $1,086,990.00. Following the sale, the chief marketing officer now directly owns 23,259 shares in the company, valued at approximately $11,088,728.25. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Bruce I. Sachs sold 5,295 shares of Vertex Pharmaceuticals stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $508.00, for a total transaction of $2,689,860.00. Following the sale, the director now owns 40,000 shares in the company, valued at $20,320,000. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 12,005 shares of company stock valued at $5,988,066 in the last three months. Company insiders own 0.20% of the company’s stock.

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.