Harel Insurance Investments & Financial Services Ltd. Sells 4,259 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Harel Insurance Investments & Financial Services Ltd. trimmed its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 82.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 906 shares of the pharmaceutical company’s stock after selling 4,259 shares during the quarter. Harel Insurance Investments & Financial Services Ltd.’s holdings in Vertex Pharmaceuticals were worth $365,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Czech National Bank lifted 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 worth $22,486,000 after buying an additional 3,260 shares during the last quarter. Whalen Wealth Management Inc. acquired a new position in Vertex Pharmaceuticals during the third quarter worth about $662,000. Creative Planning lifted its holdings in shares of Vertex Pharmaceuticals by 5.3% in the second quarter. Creative Planning now owns 79,117 shares of the pharmaceutical company’s stock worth $37,084,000 after acquiring an additional 3,998 shares during the last quarter. Mizuho Securities USA LLC boosted its stake in shares of Vertex Pharmaceuticals by 289.0% in the 3rd quarter. Mizuho Securities USA LLC now owns 77,393 shares of the pharmaceutical company’s stock valued at $35,994,000 after purchasing an additional 57,497 shares in the last quarter. Finally, Nordea Investment Management AB grew its holdings in shares of Vertex Pharmaceuticals by 19.4% during the 4th quarter. Nordea Investment Management AB now owns 342,429 shares of the pharmaceutical company’s stock valued at $137,783,000 after purchasing an additional 55,739 shares during the last quarter. 90.96% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Barclays dropped their price objective on shares of Vertex Pharmaceuticals from $509.00 to $418.00 and set an “equal weight” rating for the company in a research note on Friday, December 20th. Canaccord Genuity Group increased their price target on Vertex Pharmaceuticals from $361.00 to $408.00 and gave the company a “sell” rating in a research note on Wednesday, November 6th. Citigroup initiated coverage on Vertex Pharmaceuticals in a research report on Thursday, November 14th. They set a “buy” rating and a $575.00 price objective on the stock. Bank of America dropped their target price on Vertex Pharmaceuticals from $545.00 to $522.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. Finally, HC Wainwright reduced their price target on Vertex Pharmaceuticals from $600.00 to $535.00 and set a “buy” rating on the stock in a report on Friday, December 20th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $494.84.

Vertex Pharmaceuticals Price Performance

Vertex Pharmaceuticals stock opened at $439.62 on Friday. The stock’s 50 day moving average price is $435.36 and its two-hundred day moving average price is $464.66. The stock has a market capitalization of $113.22 billion, a price-to-earnings ratio of -220.91, a PEG ratio of 2.20 and a beta of 0.40. 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 Incorporated has a 52-week low of $377.85 and a 52-week high of $519.88.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted 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. Vertex Pharmaceuticals had a negative net margin of 4.52% and a negative return on equity of 1.91%. The business had revenue of $2.77 billion during the quarter, compared to analysts’ expectations of $2.69 billion. During the same period last year, the company posted $3.67 earnings per share. The business’s quarterly revenue was up 11.6% on a year-over-year basis. On average, equities analysts predict that Vertex Pharmaceuticals Incorporated will post -1.9 earnings per share for the current year.

Vertex Pharmaceuticals 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.