Forsta AP Fonden Decreases Stock Holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Forsta AP Fonden trimmed its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 2.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 58,700 shares of the pharmaceutical company’s stock after selling 1,200 shares during the period. Forsta AP Fonden’s holdings in Vertex Pharmaceuticals were worth $23,638,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of VRTX. State Street Corp increased its position in Vertex Pharmaceuticals by 0.8% during the third quarter. State Street Corp now owns 11,816,249 shares of the pharmaceutical company’s stock valued at $5,495,501,000 after acquiring an additional 90,173 shares during the last quarter. Jennison Associates LLC boosted its stake in shares of Vertex Pharmaceuticals by 18.1% during the 3rd quarter. Jennison Associates LLC now owns 5,550,386 shares of the pharmaceutical company’s stock worth $2,581,373,000 after purchasing an additional 851,054 shares during the period. Wellington Management Group LLP grew its holdings in Vertex Pharmaceuticals by 17.2% during the 3rd quarter. Wellington Management Group LLP now owns 4,798,870 shares of the pharmaceutical company’s stock valued at $2,231,858,000 after purchasing an additional 704,421 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in Vertex Pharmaceuticals by 5.8% in the third quarter. Massachusetts Financial Services Co. MA now owns 2,905,705 shares of the pharmaceutical company’s stock worth $1,351,385,000 after purchasing an additional 159,693 shares during the last quarter. Finally, Janus Henderson Group PLC boosted its position in shares of Vertex Pharmaceuticals by 4.1% during the third quarter. Janus Henderson Group PLC now owns 2,516,831 shares of the pharmaceutical company’s stock valued at $1,170,506,000 after buying an additional 100,114 shares during the period. Hedge funds and other institutional investors own 90.96% of the company’s stock.

Vertex Pharmaceuticals Trading Down 0.7 %

Shares of Vertex Pharmaceuticals stock opened at $440.68 on Wednesday. Vertex Pharmaceuticals Incorporated has a 12-month low of $377.85 and a 12-month high of $519.88. The firm’s 50 day simple moving average is $434.75 and its two-hundred day simple moving average is $463.64. The company has a current ratio of 2.47, a quick ratio of 2.20 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $113.49 billion, a price-to-earnings ratio of -221.45, a PEG ratio of 2.20 and a beta of 0.40.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its earnings results on Monday, November 4th. The pharmaceutical company reported $4.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.61 by $0.77. The company had revenue of $2.77 billion during the quarter, compared to analyst estimates of $2.69 billion. Vertex Pharmaceuticals had a negative return on equity of 1.91% and a negative net margin of 4.52%. The firm’s quarterly revenue was up 11.6% on a year-over-year basis. During the same quarter last year, the business posted $3.67 EPS. Analysts predict that Vertex Pharmaceuticals Incorporated will post -1.9 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Morgan Stanley raised their price target on Vertex Pharmaceuticals from $473.00 to $476.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 5th. Oppenheimer cut shares of Vertex Pharmaceuticals from an “outperform” rating to a “market perform” rating in a report on Thursday, December 19th. Truist Financial decreased their price objective on shares of Vertex Pharmaceuticals from $550.00 to $460.00 and set a “buy” rating for the company in a report on Monday, December 23rd. Barclays reduced their target price on shares of Vertex Pharmaceuticals from $509.00 to $418.00 and set an “equal weight” rating on the stock in a research report on Friday, December 20th. Finally, Bank of America lowered their price target on Vertex Pharmaceuticals from $545.00 to $522.00 and set a “buy” rating for the company in a report on Thursday, December 19th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $494.76.

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.