KLP Kapitalforvaltning AS Buys 800 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

KLP Kapitalforvaltning AS boosted its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 0.9% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 87,741 shares of the pharmaceutical company's stock after buying an additional 800 shares during the quarter. KLP Kapitalforvaltning AS's holdings in Vertex Pharmaceuticals were worth $42,539,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in VRTX. Mascagni Wealth Management Inc. bought a new position in Vertex Pharmaceuticals during the fourth quarter valued at about $31,000. Mpwm Advisory Solutions LLC bought a new position in Vertex Pharmaceuticals during the fourth quarter valued at about $40,000. Minot DeBlois Advisors LLC bought a new position in Vertex Pharmaceuticals during the fourth quarter valued at about $44,000. Prestige Wealth Management Group LLC grew its position in Vertex Pharmaceuticals by 45.5% during the fourth quarter. Prestige Wealth Management Group LLC now owns 112 shares of the pharmaceutical company's stock valued at $45,000 after buying an additional 35 shares during the period. Finally, SJS Investment Consulting Inc. boosted its position in Vertex Pharmaceuticals by 46.2% during the first quarter. SJS Investment Consulting Inc. now owns 95 shares of the pharmaceutical company's stock worth $46,000 after purchasing an additional 30 shares during the period. Institutional investors own 90.96% of the company's stock.

Analysts Set New Price Targets

VRTX has been the topic of a number of recent analyst reports. Leerink Partners reissued a "market perform" rating and issued a $503.00 price target (down from $550.00) on shares of Vertex Pharmaceuticals in a report on Tuesday, May 6th. Royal Bank Of Canada set a $420.00 price target on shares of Vertex Pharmaceuticals and gave the company a "sector perform" rating in a research report on Tuesday, June 17th. HC Wainwright reaffirmed a "buy" rating and issued a $550.00 target price on shares of Vertex Pharmaceuticals in a research note on Monday, June 23rd. Scotiabank cut their price target on shares of Vertex Pharmaceuticals from $450.00 to $442.00 and set a "sector perform" rating on the stock in a report on Tuesday, May 6th. Finally, William Blair reiterated an "outperform" rating on shares of Vertex Pharmaceuticals in a report on Tuesday, May 6th. Fourteen research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $512.30.

Vertex Pharmaceuticals Stock Performance

NASDAQ:VRTX traded down $4.68 during mid-day trading on Thursday, reaching $472.27. The company's stock had a trading volume of 907,895 shares, compared to its average volume of 1,523,696. Vertex Pharmaceuticals Incorporated has a 12-month low of $377.85 and a 12-month high of $519.88. The firm's fifty day moving average price is $451.75 and its two-hundred day moving average price is $463.78. The company has a current ratio of 2.65, a quick ratio of 2.29 and a debt-to-equity ratio of 0.01. The stock has a market cap of $121.28 billion, a P/E ratio of -120.48 and a beta of 0.41.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last issued its earnings results on Monday, May 5th. The pharmaceutical company reported $4.06 earnings per share for the quarter, missing analysts' consensus estimates of $4.29 by ($0.23). Vertex Pharmaceuticals had a negative return on equity of 3.36% and a negative net margin of 8.91%. The business had revenue of $2.77 billion during the quarter, compared to analysts' expectations of $2.85 billion. During the same period last year, the firm posted $4.76 EPS. Vertex Pharmaceuticals's quarterly revenue was up 2.6% compared to the same quarter last year. On average, equities analysts forecast that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current fiscal year.

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.