Livforsakringsbolaget Skandia Omsesidigt Cuts Stock Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Livforsakringsbolaget Skandia Omsesidigt lowered its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 3.8% during the fourth quarter, Holdings Channel reports. The institutional investor owned 27,820 shares of the pharmaceutical company’s stock after selling 1,100 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Vertex Pharmaceuticals were worth $11,203,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Northwest Investment Counselors LLC purchased a new stake in Vertex Pharmaceuticals during the 3rd quarter worth approximately $25,000. Highline Wealth Partners LLC acquired a new position in Vertex Pharmaceuticals during the third quarter worth $27,000. Dunhill Financial LLC raised its position in Vertex Pharmaceuticals by 70.6% during the third quarter. Dunhill Financial LLC now owns 58 shares of the pharmaceutical company’s stock worth $27,000 after acquiring an additional 24 shares during the period. Brown Lisle Cummings Inc. acquired a new position in Vertex Pharmaceuticals during the fourth quarter worth $30,000. Finally, Legacy Investment Solutions LLC acquired a new position in Vertex Pharmaceuticals during the third quarter worth $33,000. Hedge funds and other institutional investors own 90.96% of the company’s stock.

Vertex Pharmaceuticals Stock Down 1.5 %

NASDAQ:VRTX opened at $481.16 on Friday. 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 company’s 50-day moving average is $435.51 and its two-hundred day moving average is $462.74. 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 EPS for the quarter, beating analysts’ consensus estimates of $3.61 by $0.77. Vertex Pharmaceuticals had a negative net margin of 4.52% and a negative return on equity of 1.91%. The company had revenue of $2.77 billion during the quarter, compared to the consensus estimate of $2.69 billion. During the same quarter in the prior year, the company posted $3.67 EPS. The company’s quarterly revenue was up 11.6% compared to the same quarter last year. Research analysts expect that Vertex Pharmaceuticals Incorporated will post -1.93 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on VRTX. Wells Fargo & Company lowered shares of Vertex Pharmaceuticals from an “overweight” rating to an “equal weight” rating and set a $460.00 target price for the company. in a report on Thursday, January 30th. William Blair reissued an “outperform” rating on shares of Vertex Pharmaceuticals in a report on Friday, January 31st. Royal Bank of Canada upped their price objective on shares of Vertex Pharmaceuticals from $437.00 to $451.00 and gave the company a “sector perform” rating in a report on Tuesday, November 5th. Truist Financial dropped 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. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $480.00 target price on shares of Vertex Pharmaceuticals in a research report on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $502.58.

About Vertex Pharmaceuticals

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.