Avanza Fonder AB Invests $11.34 Million in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Avanza Fonder AB purchased a new position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 28,158 shares of the pharmaceutical company's stock, valued at approximately $11,339,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Northwest Investment Counselors LLC acquired a new position in shares of Vertex Pharmaceuticals in the third quarter valued at approximately $25,000. Dunhill Financial LLC grew its position in Vertex Pharmaceuticals by 70.6% in the 3rd quarter. Dunhill Financial LLC now owns 58 shares of the pharmaceutical company's stock valued at $27,000 after buying an additional 24 shares during the last quarter. Highline Wealth Partners LLC acquired a new position in Vertex Pharmaceuticals in the 3rd quarter valued at $27,000. Legacy Investment Solutions LLC purchased a new position in Vertex Pharmaceuticals during the 3rd quarter worth $33,000. Finally, Truvestments Capital LLC acquired a new stake in shares of Vertex Pharmaceuticals in the 3rd quarter worth $35,000. 90.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Raymond James reissued a "market perform" rating on shares of Vertex Pharmaceuticals in a report on Thursday, October 10th. BMO Capital Markets cut their target price on Vertex Pharmaceuticals from $566.00 to $520.00 and set an "outperform" rating for the company in a research note on Friday, December 20th. Barclays decreased their price target on Vertex Pharmaceuticals from $509.00 to $418.00 and set an "equal weight" rating on the stock in a research note on Friday, December 20th. Truist Financial cut their price objective on Vertex Pharmaceuticals from $550.00 to $460.00 and set a "buy" rating for the company in a research report on Monday, December 23rd. Finally, StockNews.com cut shares of Vertex Pharmaceuticals from a "strong-buy" rating to a "buy" rating in a research note on Thursday, November 21st. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Vertex Pharmaceuticals presently has an average rating of "Moderate Buy" and an average price target of $490.38.

Vertex Pharmaceuticals Trading Up 1.2 %

Shares of NASDAQ:VRTX traded up $5.04 during midday trading on Friday, reaching $422.00. The company's stock had a trading volume of 1,771,827 shares, compared to its average volume of 1,811,179. The firm has a market cap of $108.68 billion, a price-to-earnings ratio of -212.06, a price-to-earnings-growth ratio of 2.11 and a beta of 0.40. The business has a 50 day moving average price of $440.94 and a 200 day moving average price of $466.14. Vertex Pharmaceuticals Incorporated has a 1 year low of $377.85 and a 1 year high of $519.88. The company has a quick ratio of 2.20, a current ratio of 2.47 and a debt-to-equity ratio of 0.01.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last posted its quarterly earnings data on Monday, November 4th. The pharmaceutical company reported $4.38 EPS for the quarter, beating analysts' consensus estimates of $3.61 by $0.77. Vertex Pharmaceuticals had a negative net margin of 4.52% and a negative return on equity of 1.91%. The company had revenue of $2.77 billion during the quarter, compared to the consensus estimate of $2.69 billion. During the same quarter in the prior year, the company posted $3.67 EPS. The company's quarterly revenue was up 11.6% compared to the same quarter last year. Research analysts forecast that Vertex Pharmaceuticals Incorporated will post -1.9 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.