State of Alaska Department of Revenue Sells 2,190 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

State of Alaska Department of Revenue reduced its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 4.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 45,785 shares of the pharmaceutical company’s stock after selling 2,190 shares during the quarter. State of Alaska Department of Revenue’s holdings in Vertex Pharmaceuticals were worth $18,437,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of VRTX. Czech National Bank grew its position in shares of Vertex Pharmaceuticals by 6.2% during the 4th quarter. Czech National Bank now owns 55,838 shares of the pharmaceutical company’s stock valued at $22,486,000 after purchasing an additional 3,260 shares in the last quarter. Whalen Wealth Management Inc. bought a new stake in Vertex Pharmaceuticals during the third quarter valued at $662,000. Concord Wealth Partners grew its position in Vertex Pharmaceuticals by 32.6% during the fourth quarter. Concord Wealth Partners now owns 3,508 shares of the pharmaceutical company’s stock worth $1,413,000 after buying an additional 862 shares in the last quarter. Mizuho Securities USA LLC increased its stake in Vertex Pharmaceuticals by 289.0% in the 3rd quarter. Mizuho Securities USA LLC now owns 77,393 shares of the pharmaceutical company’s stock worth $35,994,000 after acquiring an additional 57,497 shares during the last quarter. Finally, Nordea Investment Management AB raised its holdings in shares of Vertex Pharmaceuticals by 19.4% in the 4th quarter. Nordea Investment Management AB now owns 342,429 shares of the pharmaceutical company’s stock valued at $137,783,000 after acquiring an additional 55,739 shares in the last quarter. Hedge funds and other institutional investors own 90.96% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on VRTX. Bank of America cut their price objective on Vertex Pharmaceuticals from $545.00 to $522.00 and set a “buy” rating for the company in a report on Thursday, December 19th. Oppenheimer cut shares of Vertex Pharmaceuticals from an “outperform” rating to a “market perform” rating in a research note on Thursday, December 19th. Stifel Nicolaus raised their price objective on shares of Vertex Pharmaceuticals from $490.00 to $494.00 and gave the company a “hold” rating in a research report on Monday, December 16th. Truist Financial cut their target price on shares of 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, BMO Capital Markets dropped their price target 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. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $502.58.

Vertex Pharmaceuticals Stock Performance

Shares of NASDAQ:VRTX opened at $488.44 on Thursday. Vertex Pharmaceuticals Incorporated has a 1 year low of $377.85 and a 1 year high of $519.88. The stock’s 50-day moving average is $435.03 and its 200 day moving average is $462.56. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.20 and a current ratio of 2.47.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings results on Monday, November 4th. The pharmaceutical company reported $4.38 EPS for the quarter, topping analysts’ consensus estimates of $3.61 by $0.77. The company had revenue of $2.77 billion during the quarter, compared to analyst estimates of $2.69 billion. Vertex Pharmaceuticals had a negative return on equity of 1.91% and a negative net margin of 4.52%. The firm’s revenue was up 11.6% on a year-over-year basis. During the same quarter last year, the firm posted $3.67 earnings per share. On average, analysts anticipate that Vertex Pharmaceuticals Incorporated will post -1.93 EPS for the current fiscal 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.