Avanza Fonder AB Takes $11.34 Million Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Avanza Fonder AB purchased a new stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 28,158 shares of the pharmaceutical company’s stock, valued at approximately $11,339,000.

Other large investors have also recently bought and sold shares of the company. Northwest Investment Counselors LLC acquired a new position in shares of Vertex Pharmaceuticals in the 3rd quarter worth approximately $25,000. Highline Wealth Partners LLC bought a new position in Vertex Pharmaceuticals in the 3rd quarter valued at $27,000. Dunhill Financial LLC boosted its stake in Vertex Pharmaceuticals by 70.6% in the third quarter. Dunhill Financial LLC now owns 58 shares of the pharmaceutical company’s stock worth $27,000 after purchasing an additional 24 shares in the last quarter. Legacy Investment Solutions LLC bought a new stake in shares of Vertex Pharmaceuticals during the third quarter worth $33,000. Finally, Truvestments Capital LLC bought a new stake in shares of Vertex Pharmaceuticals during the third quarter worth $35,000. 90.96% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Oppenheimer cut Vertex Pharmaceuticals from an “outperform” rating to a “market perform” rating in a report on Thursday, December 19th. HC Wainwright reduced their target price on shares of Vertex Pharmaceuticals from $600.00 to $535.00 and set a “buy” rating on the stock in a research report on Friday, December 20th. Royal Bank of Canada increased their price target on shares of Vertex Pharmaceuticals from $437.00 to $451.00 and gave the company a “sector perform” rating in a research note on Tuesday, November 5th. Cantor Fitzgerald restated an “overweight” rating and issued a $480.00 price objective on shares of Vertex Pharmaceuticals in a research report on Tuesday, November 5th. Finally, BMO Capital Markets dropped their price objective on Vertex Pharmaceuticals from $566.00 to $520.00 and set an “outperform” rating for the company in a report on Friday, December 20th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Vertex Pharmaceuticals currently has an average rating of “Moderate Buy” and an average target price of $490.38.

Vertex Pharmaceuticals Trading Down 0.9 %

VRTX opened at $420.42 on Friday. The firm’s fifty day simple moving average is $444.54 and its 200 day simple moving average is $466.83. The stock has a market capitalization of $108.27 billion, a P/E ratio of -209.53, a P/E/G ratio of 2.11 and a beta of 0.40. The company has a current ratio of 2.47, a quick ratio of 2.20 and a debt-to-equity ratio of 0.01. Vertex Pharmaceuticals Incorporated has a 12 month low of $377.85 and a 12 month high of $519.88.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly earnings data on Monday, November 4th. The pharmaceutical company reported $4.38 earnings per share for the quarter, topping the consensus estimate of $3.61 by $0.77. The company had revenue of $2.77 billion during the quarter, compared to analysts’ expectations of $2.69 billion. Vertex Pharmaceuticals had a negative return on equity of 1.91% and a negative net margin of 4.52%. Vertex Pharmaceuticals’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.67 earnings per share. As a group, research analysts anticipate that Vertex Pharmaceuticals Incorporated will post -1.9 EPS for the current fiscal 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.