Skandinaviska Enskilda Banken AB publ Raises Stock Holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Key Points

• Skandinaviska Enskilda Banken AB publ increased its ownership in Vertex Pharmaceuticals by 9.0%, acquiring an additional 15,437 shares, bringing its total to 186,471 shares valued at approximately $90.36 million.
• Analysts have varying perspectives on Vertex Pharmaceuticals, with price targets ranging from $420.00 to $550.00, while the stock holds an average rating of "Moderate Buy".
• Vertex Pharmaceuticals reported a quarterly earnings miss with an EPS of $4.06, falling short of estimates, and had a revenue of $2.77 billion, slightly under analysts' expectations.

Skandinaviska Enskilda Banken AB publ lifted its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 9.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 186,471 shares of the pharmaceutical company's stock after purchasing an additional 15,437 shares during the quarter. Skandinaviska Enskilda Banken AB publ owned about 0.07% of Vertex Pharmaceuticals worth $90,356,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of VRTX. Mascagni Wealth Management Inc. purchased a new stake in shares of Vertex Pharmaceuticals in the fourth quarter valued at $31,000. Mpwm Advisory Solutions LLC purchased a new position in shares of Vertex Pharmaceuticals during the fourth quarter valued at $40,000. Minot DeBlois Advisors LLC bought a new position in Vertex Pharmaceuticals in the fourth quarter worth about $44,000. SJS Investment Consulting Inc. raised its holdings in Vertex Pharmaceuticals by 46.2% in 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 in the last quarter. Finally, Transce3nd LLC acquired a new stake in Vertex Pharmaceuticals in the fourth quarter worth about $50,000. 90.96% of the stock is owned by hedge funds and other institutional investors.

Vertex Pharmaceuticals Trading Down 1.9%

Vertex Pharmaceuticals stock traded down $8.82 during trading on Monday, hitting $460.83. The company's stock had a trading volume of 2,103,943 shares, compared to its average volume of 1,525,364. The stock has a market capitalization of $118.34 billion, a price-to-earnings ratio of -117.56 and a beta of 0.41. The stock's fifty day moving average is $453.13 and its 200 day moving average is $465.42. Vertex Pharmaceuticals Incorporated has a 1-year low of $377.85 and a 1-year high of $519.88. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.29 and a current ratio of 2.65.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last released its quarterly earnings data on Monday, May 5th. The pharmaceutical company reported $4.06 earnings per share for the quarter, missing the consensus estimate of $4.29 by ($0.23). Vertex Pharmaceuticals had a negative net margin of 8.91% and a negative return on equity of 3.36%. The firm had revenue of $2.77 billion during the quarter, compared to analyst estimates of $2.85 billion. During the same period in the prior year, the firm earned $4.76 earnings per share. The business's revenue for the quarter was up 2.6% on a year-over-year basis. As a group, equities research analysts predict that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. HC Wainwright reiterated a "buy" rating and issued a $550.00 target price on shares of Vertex Pharmaceuticals in a research report on Monday, June 23rd. Wolfe Research cut Vertex Pharmaceuticals from an "outperform" rating to a "peer perform" rating in a research report on Wednesday, May 7th. Leerink Partnrs cut shares of Vertex Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 6th. Scotiabank dropped their target price on Vertex Pharmaceuticals from $450.00 to $442.00 and set a "sector perform" rating for the company in a report on Tuesday, May 6th. Finally, JPMorgan Chase & Co. increased their price target on Vertex Pharmaceuticals from $515.00 to $517.00 and gave the stock an "overweight" rating in a report on Monday, July 14th. Fourteen investment 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. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $512.30.

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.