Tredje AP fonden Lowers Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Tredje AP fonden decreased its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 12.1% during the second quarter, according to its most recent filing with the SEC. The firm owned 91,601 shares of the pharmaceutical company’s stock after selling 12,614 shares during the period. Tredje AP fonden’s holdings in Vertex Pharmaceuticals were worth $42,935,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the business. University of Texas Texas AM Investment Managment Co. bought a new position in shares of Vertex Pharmaceuticals during the fourth quarter valued at approximately $25,000. Annapolis Financial Services LLC bought a new stake in Vertex Pharmaceuticals during the 1st quarter valued at $27,000. ICA Group Wealth Management LLC purchased a new position in shares of Vertex Pharmaceuticals in the 4th quarter valued at $28,000. GHP Investment Advisors Inc. bought a new stake in Vertex Pharmaceuticals during the second quarter valued at about $29,000. Finally, Stephens Consulting LLC bought a new position in Vertex Pharmaceuticals in the second quarter worth about $31,000. Hedge funds and other institutional investors own 90.96% of the company’s stock.

Vertex Pharmaceuticals Stock Down 1.7 %

Shares of VRTX opened at $481.26 on Wednesday. Vertex Pharmaceuticals Incorporated has a 12 month low of $341.85 and a 12 month high of $510.64. The firm has a market cap of $124.19 billion, a P/E ratio of 31.23 and a beta of 0.40. The company has a current ratio of 2.52, a quick ratio of 2.26 and a debt-to-equity ratio of 0.02. The stock’s 50 day moving average is $483.77 and its two-hundred day moving average is $451.24.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its 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). The company had revenue of $2.65 billion during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter last year, the business earned $3.53 EPS. Analysts predict that Vertex Pharmaceuticals Incorporated will post -2.14 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently commented on VRTX shares. HC Wainwright boosted their price objective on shares of Vertex Pharmaceuticals from $500.00 to $600.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. TD Cowen upped their target price on Vertex Pharmaceuticals from $450.00 to $500.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. Barclays cut Vertex Pharmaceuticals from an “overweight” rating to an “equal weight” rating and increased their price target for the company from $472.00 to $509.00 in a research note on Monday, August 5th. Truist Financial restated a “buy” rating and set a $550.00 price objective (up previously from $508.00) on shares of Vertex Pharmaceuticals in a report on Monday, August 5th. Finally, Needham & Company LLC restated a “hold” rating on shares of Vertex Pharmaceuticals in a research note on Friday, July 26th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $485.91.

Insider Transactions at Vertex Pharmaceuticals

In related news, Director Bruce I. Sachs sold 5,295 shares of the stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $508.00, for a total value of $2,689,860.00. Following the completion of the transaction, the director now directly owns 40,000 shares of the company’s stock, valued at approximately $20,320,000. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, Director Sangeeta N. Bhatia sold 646 shares of Vertex Pharmaceuticals stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $500.00, for a total transaction of $323,000.00. Following the transaction, the director now owns 4,435 shares in the company, valued at $2,217,500. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Bruce I. Sachs sold 5,295 shares of the firm’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $508.00, for a total value of $2,689,860.00. Following the completion of the sale, the director now directly owns 40,000 shares of the company’s stock, valued at $20,320,000. The disclosure for this sale can be found here. Insiders have sold 34,047 shares of company stock valued at $16,843,806 over the last ninety days. 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.