Handelsbanken Fonder AB Reduces Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Handelsbanken Fonder AB decreased its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 29.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 207,645 shares of the pharmaceutical company’s stock after selling 88,391 shares during the quarter. Handelsbanken Fonder AB’s holdings in Vertex Pharmaceuticals were worth $100,670,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of VRTX. Mascagni Wealth Management Inc. acquired a new position in shares of Vertex Pharmaceuticals during the fourth quarter worth $31,000. Golden State Wealth Management LLC purchased a new stake in Vertex Pharmaceuticals during the 4th quarter worth about $37,000. SJS Investment Consulting Inc. boosted its position in shares of Vertex Pharmaceuticals by 46.2% during the 1st quarter. SJS Investment Consulting Inc. now owns 95 shares of the pharmaceutical company’s stock worth $46,000 after acquiring an additional 30 shares in the last quarter. Truvestments Capital LLC increased its holdings in shares of Vertex Pharmaceuticals by 30.3% in the 4th quarter. Truvestments Capital LLC now owns 99 shares of the pharmaceutical company’s stock valued at $40,000 after acquiring an additional 23 shares during the last quarter. Finally, Mpwm Advisory Solutions LLC acquired a new stake in shares of Vertex Pharmaceuticals during the 4th quarter worth about $40,000. Institutional investors and hedge funds own 90.96% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Cantor Fitzgerald reissued an “overweight” rating and issued a $535.00 target price on shares of Vertex Pharmaceuticals in a report on Tuesday, May 6th. Erste Group Bank lowered Vertex Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Friday, May 23rd. Bank of America upped their price target on shares of Vertex Pharmaceuticals from $555.00 to $567.00 and gave the stock a “buy” rating in a research note on Monday, March 31st. Scotiabank lowered their price target on 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, The Goldman Sachs Group reissued a “buy” rating on shares of Vertex Pharmaceuticals in a research note 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 stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $515.04.

Vertex Pharmaceuticals Stock Performance

Shares of VRTX opened at $446.15 on Tuesday. The stock has a market capitalization of $114.57 billion, a PE ratio of -202.80, a price-to-earnings-growth ratio of 2.11 and a beta of 0.41. The business’s fifty day moving average price is $464.26 and its 200 day moving average price is $460.37. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.69 and a quick ratio of 2.35. Vertex Pharmaceuticals Incorporated has a 12-month low of $377.85 and a 12-month high of $519.88.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly earnings results on Monday, May 5th. The pharmaceutical company reported $4.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.29 by ($0.23). Vertex Pharmaceuticals had a negative return on equity of 2.02% and a negative net margin of 4.86%. The business had revenue of $2.77 billion during the quarter, compared to the consensus estimate of $2.85 billion. During the same quarter in the previous year, the business posted $4.76 earnings per share. The company’s quarterly revenue was up 2.6% compared to the same quarter last year. Equities research analysts forecast 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.