Vinva Investment Management Ltd Reduces Holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Vinva Investment Management Ltd reduced its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 73.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,443 shares of the pharmaceutical company’s stock after selling 6,784 shares during the quarter. Vinva Investment Management Ltd’s holdings in Vertex Pharmaceuticals were worth $1,131,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Whalen Wealth Management Inc. purchased a new position in Vertex Pharmaceuticals during the 3rd quarter valued at about $662,000. Creative Planning increased its holdings in Vertex Pharmaceuticals by 5.3% during the 2nd quarter. Creative Planning now owns 79,117 shares of the pharmaceutical company’s stock valued at $37,084,000 after acquiring an additional 3,998 shares in the last quarter. Mizuho Securities USA LLC boosted its stake in shares of Vertex Pharmaceuticals by 289.0% during the 3rd quarter. Mizuho Securities USA LLC now owns 77,393 shares of the pharmaceutical company’s stock worth $35,994,000 after purchasing an additional 57,497 shares during the last quarter. Blue Trust Inc. boosted its stake in shares of Vertex Pharmaceuticals by 640.0% during the 2nd quarter. Blue Trust Inc. now owns 1,443 shares of the pharmaceutical company’s stock worth $676,000 after purchasing an additional 1,248 shares during the last quarter. Finally, Manning & Napier Advisors LLC acquired a new stake in shares of Vertex Pharmaceuticals during the 2nd quarter worth about $74,213,000. 90.96% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

VRTX has been the topic of several analyst reports. Bank of America decreased their price target on shares of Vertex Pharmaceuticals from $550.00 to $541.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. Oppenheimer decreased their price target on shares of Vertex Pharmaceuticals from $550.00 to $540.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 30th. Canaccord Genuity Group raised their price target on shares of Vertex Pharmaceuticals from $361.00 to $408.00 and gave the stock a “sell” rating in a research note on Wednesday, November 6th. Piper Sandler raised their price target on shares of Vertex Pharmaceuticals from $500.00 to $535.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Finally, Barclays cut shares of Vertex Pharmaceuticals from an “overweight” rating to an “equal weight” rating and raised their price target for the stock from $472.00 to $509.00 in a research note on Monday, August 5th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $504.38.

Vertex Pharmaceuticals Trading Up 0.8 %

NASDAQ VRTX opened at $468.13 on Friday. Vertex Pharmaceuticals Incorporated has a one year low of $347.51 and a one year high of $519.88. The company’s 50 day moving average price is $472.87 and its 200 day moving average price is $474.48. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.20 and a current ratio of 2.47. The firm has a market capitalization of $120.56 billion, a price-to-earnings ratio of -235.24 and a beta of 0.39.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly earnings data on Monday, November 4th. The pharmaceutical company reported $4.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.61 by $0.77. The company had revenue of $2.77 billion for the quarter, compared to analyst estimates of $2.69 billion. Vertex Pharmaceuticals had a negative net margin of 4.52% and a negative return on equity of 1.91%. The business’s quarterly revenue was up 11.6% on a year-over-year basis. During the same quarter last year, the firm posted $3.67 earnings per share. On average, sell-side analysts predict that Vertex Pharmaceuticals Incorporated will post -1.83 EPS for the current year.

Vertex Pharmaceuticals Company 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.