Andra AP fonden Has $10.67 Million Stock Position in Vertex Pharmaceuticals Incorporated $VRTX

Andra AP fonden cut its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 33.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,903 shares of the pharmaceutical company’s stock after selling 12,037 shares during the quarter. Andra AP fonden’s holdings in Vertex Pharmaceuticals were worth $10,674,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Norges Bank acquired a new stake in shares of Vertex Pharmaceuticals in the fourth quarter valued at about $1,440,149,000. Victory Capital Management Inc. boosted its position in Vertex Pharmaceuticals by 49.4% during the fourth quarter. Victory Capital Management Inc. now owns 3,356,766 shares of the pharmaceutical company’s stock valued at $1,521,851,000 after purchasing an additional 1,109,200 shares during the last quarter. Capital Research Global Investors grew its stake in Vertex Pharmaceuticals by 4.6% in the fourth quarter. Capital Research Global Investors now owns 17,316,344 shares of the pharmaceutical company’s stock valued at $7,850,544,000 after purchasing an additional 763,063 shares in the last quarter. Life Cycle Investment Partners Ltd bought a new position in Vertex Pharmaceuticals in the fourth quarter valued at approximately $166,317,000. Finally, Arrowstreet Capital Limited Partnership increased its position in shares of Vertex Pharmaceuticals by 520.1% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 381,195 shares of the pharmaceutical company’s stock worth $149,291,000 after purchasing an additional 319,725 shares during the last quarter. Institutional investors own 90.96% of the company’s stock.

Vertex Pharmaceuticals Price Performance

VRTX stock opened at $482.00 on Wednesday. Vertex Pharmaceuticals Incorporated has a fifty-two week low of $362.50 and a fifty-two week high of $533.67. The stock has a market capitalization of $122.33 billion, a price-to-earnings ratio of 28.59, a PEG ratio of 2.09 and a beta of 0.29. The business’s fifty day moving average price is $464.12 and its two-hundred day moving average price is $459.39.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its earnings results on Monday, May 4th. The pharmaceutical company reported $4.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.24 by $0.23. Vertex Pharmaceuticals had a net margin of 35.51% and a return on equity of 23.86%. The company had revenue of $2.99 billion during the quarter, compared to analysts’ expectations of $2.99 billion. During the same quarter in the previous year, the business posted $4.06 earnings per share. Vertex Pharmaceuticals’s quarterly revenue was up 8.3% on a year-over-year basis. Research analysts expect that Vertex Pharmaceuticals Incorporated will post 17.01 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Barclays upped their price target on shares of Vertex Pharmaceuticals from $607.00 to $615.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 6th. Morgan Stanley boosted their price objective on shares of Vertex Pharmaceuticals from $612.00 to $616.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 5th. Sanford C. Bernstein dropped their target price on shares of Vertex Pharmaceuticals from $577.00 to $572.00 and set an “outperform” rating on the stock in a report on Tuesday, May 5th. Truist Financial raised their target price on shares of Vertex Pharmaceuticals from $542.00 to $560.00 and gave the company a “buy” rating in a research note on Monday, July 13th. Finally, Canaccord Genuity Group reduced their price target on Vertex Pharmaceuticals from $437.00 to $436.00 and set a “hold” rating for the company in a report on Tuesday, May 5th. Twenty-two equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $559.61.

Insider Activity

In other news, Director Sangeeta N. Bhatia sold 318 shares of the company’s stock in a transaction on Monday, May 4th. The stock was sold at an average price of $423.73, for a total transaction of $134,746.14. Following the completion of the sale, the director directly owned 4,924 shares in the company, valued at approximately $2,086,446.52. This represents a 6.07% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Ourania Tatsis sold 1,500 shares of the business’s stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $524.99, for a total value of $787,485.00. Following the completion of the transaction, the executive vice president directly owned 45,321 shares of the company’s stock, valued at approximately $23,793,071.79. This trade represents a 3.20% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 18,874 shares of company stock worth $8,707,966. Insiders own 0.20% of the company’s stock.

Vertex Pharmaceuticals Profile

Vertex Pharmaceuticals Inc is a Boston-based biotechnology company focused on the discovery, development and commercialization of therapies for serious diseases. Founded in 1989, Vertex built its reputation on research-driven drug development and is best known for its work in cystic fibrosis (CF), where its portfolio of small-molecule CFTR modulators transformed standards of care for many people with the disease. The company operates research and development, manufacturing and commercial organizations and serves patients and healthcare systems in multiple international markets.

Vertex’s marketed products center on CFTR modulators that target the underlying cause of cystic fibrosis rather than just treating symptoms.