Avanza Fonder AB Sells 4,138 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Avanza Fonder AB cut its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 14.7% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 24,020 shares of the pharmaceutical company's stock after selling 4,138 shares during the period. Avanza Fonder AB's holdings in Vertex Pharmaceuticals were worth $11,613,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of VRTX. Brighton Jones LLC raised its holdings in Vertex Pharmaceuticals by 15.0% in the fourth quarter. Brighton Jones LLC now owns 4,427 shares of the pharmaceutical company's stock worth $1,783,000 after buying an additional 579 shares during the last quarter. Golden State Wealth Management LLC purchased a new position in Vertex Pharmaceuticals in the fourth quarter worth about $37,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its holdings in Vertex Pharmaceuticals by 5.2% in the fourth quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 694 shares of the pharmaceutical company's stock worth $308,000 after buying an additional 34 shares during the last quarter. Wingate Wealth Advisors Inc. purchased a new position in Vertex Pharmaceuticals in the fourth quarter worth about $43,000. Finally, Sapient Capital LLC raised its holdings in Vertex Pharmaceuticals by 1.4% in the fourth quarter. Sapient Capital LLC now owns 35,796 shares of the pharmaceutical company's stock worth $14,415,000 after buying an additional 498 shares during the last quarter. 90.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Wall Street Zen raised shares of Vertex Pharmaceuticals from a "hold" rating to a "buy" rating in a report on Tuesday, March 11th. Scotiabank decreased their price objective on shares of Vertex Pharmaceuticals from $450.00 to $442.00 and set a "sector perform" rating for the company in a report on Tuesday, May 6th. Cantor Fitzgerald reissued an "overweight" rating and set a $535.00 price objective on shares of Vertex Pharmaceuticals in a report on Tuesday, May 6th. Needham & Company LLC reissued a "hold" rating on shares of Vertex Pharmaceuticals in a report on Tuesday, May 6th. Finally, The Goldman Sachs Group reissued a "buy" rating on shares of Vertex Pharmaceuticals in a report on Tuesday, May 6th. Fourteen research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Vertex Pharmaceuticals presently has a consensus rating of "Moderate Buy" and a consensus price target of $515.04.

Vertex Pharmaceuticals Price Performance

Shares of VRTX traded down $4.61 during mid-day trading on Friday, reaching $455.45. The stock had a trading volume of 1,021,326 shares, compared to its average volume of 1,417,847. The firm has a market cap of $116.96 billion, a price-to-earnings ratio of -207.02, a PEG ratio of 2.11 and a beta of 0.41. Vertex Pharmaceuticals Incorporated has a 12 month low of $377.85 and a 12 month high of $519.88. The business has a fifty day moving average of $462.88 and a 200 day moving average of $460.24. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.35 and a current ratio of 2.69.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last posted its quarterly 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). The firm had revenue of $2.77 billion during the quarter, compared to the consensus estimate of $2.85 billion. Vertex Pharmaceuticals had a negative return on equity of 2.02% and a negative net margin of 4.86%. The business's revenue for the quarter was up 2.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $4.76 earnings per share. Equities analysts predict that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current 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.