Swedbank AB Decreases Position in Vertex Pharmaceuticals Incorporated $VRTX

Key Points

• Swedbank AB has reduced its stake in Vertex Pharmaceuticals by 36.5%, now owning approximately 0.11% of the company worth $140.6 million after selling 166,513 shares in the first quarter.
• Several analysts have set new price targets for Vertex Pharmaceuticals, with Truist Financial giving a target of $490.00, while Morgan Stanley set theirs at $439.00.
• Director Bruce I. Sachs recently purchased 5,000 shares at an average price of $389.68, representing a 12.50% increase in his ownership position.

Swedbank AB trimmed its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 36.5% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 290,074 shares of the pharmaceutical company's stock after selling 166,513 shares during the quarter. Swedbank AB owned approximately 0.11% of Vertex Pharmaceuticals worth $140,634,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of VRTX. Activest Wealth Management purchased a new stake in Vertex Pharmaceuticals during the first quarter worth $25,000. Clal Insurance Enterprises Holdings Ltd boosted its position in Vertex Pharmaceuticals by 450.0% during the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 55 shares of the pharmaceutical company's stock worth $27,000 after purchasing an additional 45 shares in the last quarter. Mascagni Wealth Management Inc. purchased a new stake in Vertex Pharmaceuticals during the fourth quarter worth $31,000. Flaharty Asset Management LLC purchased a new stake in Vertex Pharmaceuticals during the first quarter worth $32,000. Finally, Mpwm Advisory Solutions LLC purchased a new stake in Vertex Pharmaceuticals during the fourth quarter worth $40,000. 90.96% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have commented on the company. Truist Financial set a $490.00 target price on Vertex Pharmaceuticals and gave the stock a "buy" rating in a research report on Tuesday, August 5th. Morgan Stanley set a $439.00 price objective on Vertex Pharmaceuticals and gave the company an "equal weight" rating in a research report on Tuesday, August 5th. Erste Group Bank downgraded Vertex Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research report on Friday, May 23rd. Stifel Nicolaus reduced their price objective on Vertex Pharmaceuticals from $494.00 to $455.00 and set a "hold" rating on the stock in a research report on Tuesday, August 5th. Finally, Royal Bank Of Canada reduced their price objective on Vertex Pharmaceuticals from $430.00 to $405.00 and set a "sector perform" rating on the stock in a research report on Tuesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and thirteen have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $496.05.

Insider Buying and Selling

In other Vertex Pharmaceuticals news, Director Bruce I. Sachs bought 5,000 shares of the company's stock in a transaction that occurred on Wednesday, August 6th. The stock was purchased at an average cost of $389.68 per share, for a total transaction of $1,948,400.00. Following the completion of the purchase, the director owned 45,000 shares of the company's stock, valued at $17,535,600. This trade represents a 12.50% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.20% of the company's stock.

Vertex Pharmaceuticals Trading Up 2.3%

Vertex Pharmaceuticals stock opened at $397.37 on Friday. The firm has a market capitalization of $101.88 billion, a P/E ratio of 28.40 and a beta of 0.44. The stock has a fifty day moving average price of $423.87 and a 200 day moving average price of $454.15. Vertex Pharmaceuticals Incorporated has a 52 week low of $362.50 and a 52 week high of $519.88.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last released its earnings results on Monday, August 4th. The pharmaceutical company reported $4.52 EPS for the quarter, beating the consensus estimate of $4.24 by $0.28. The firm had revenue of $2.94 billion during the quarter, compared to analyst estimates of $2.90 billion. Vertex Pharmaceuticals had a return on equity of 23.91% and a net margin of 31.86%.The business's quarterly revenue was up 11.3% compared to the same quarter last year. During the same period in the prior year, the firm posted ($12.83) earnings per share. Vertex Pharmaceuticals has set its FY 2025 guidance at EPS. As a group, equities analysts predict that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current 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.

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