Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Shares Purchased by Jackson Wealth Management LLC

Jackson Wealth Management LLC lifted its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 90.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,548 shares of the pharmaceutical company’s stock after acquiring an additional 1,682 shares during the period. Jackson Wealth Management LLC’s holdings in Vertex Pharmaceuticals were worth $1,650,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Brookstone Capital Management lifted its position in Vertex Pharmaceuticals by 11.1% during the first quarter. Brookstone Capital Management now owns 2,368 shares of the pharmaceutical company’s stock worth $990,000 after buying an additional 237 shares in the last quarter. Creative Planning lifted its position in Vertex Pharmaceuticals by 5.3% during the second quarter. Creative Planning now owns 79,117 shares of the pharmaceutical company’s stock worth $37,084,000 after buying an additional 3,998 shares in the last quarter. Blue Trust Inc. lifted its position in Vertex Pharmaceuticals by 640.0% during the second quarter. Blue Trust Inc. now owns 1,443 shares of the pharmaceutical company’s stock worth $676,000 after buying an additional 1,248 shares in the last quarter. Manning & Napier Advisors LLC purchased a new position in Vertex Pharmaceuticals during the second quarter worth approximately $74,213,000. Finally, Susquehanna Fundamental Investments LLC purchased a new position in Vertex Pharmaceuticals during the second quarter worth approximately $21,008,000. 90.96% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Vertex Pharmaceuticals

In related news, Director Bruce I. Sachs sold 5,295 shares of Vertex Pharmaceuticals stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $508.00, for a total transaction of $2,689,860.00. Following the sale, the director now owns 40,000 shares of the company’s stock, valued at $20,320,000. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Vertex Pharmaceuticals news, Director Sangeeta N. Bhatia sold 646 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $500.00, for a total value of $323,000.00. Following the sale, the director now owns 4,435 shares in the company, valued at approximately $2,217,500. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Bruce I. Sachs sold 5,295 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $508.00, for a total transaction of $2,689,860.00. Following the transaction, the director now owns 40,000 shares in the company, valued at $20,320,000. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 12,005 shares of company stock worth $5,988,066. 0.20% of the stock is currently owned by corporate insiders.

Vertex Pharmaceuticals Price Performance

VRTX stock traded up $4.56 during midday trading on Thursday, hitting $474.61. The stock had a trading volume of 125,637 shares, compared to its average volume of 1,169,235. The company has a quick ratio of 2.26, a current ratio of 2.52 and a debt-to-equity ratio of 0.02. Vertex Pharmaceuticals Incorporated has a 12-month low of $341.90 and a 12-month high of $510.64. The company’s 50-day moving average price is $475.60 and its 200 day moving average price is $461.29.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings results on Thursday, August 1st. The pharmaceutical company reported ($12.83) earnings per share for the quarter, missing analysts’ consensus estimates of ($12.54) by ($0.29). The company had revenue of $2.65 billion during the quarter, compared to analyst estimates of $2.66 billion. Vertex Pharmaceuticals had a negative net margin of 4.74% and a negative return on equity of 2.45%. The firm’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same quarter last year, the business earned $3.53 EPS. Analysts anticipate that Vertex Pharmaceuticals Incorporated will post -2.11 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

VRTX has been the topic of a number of research analyst reports. Redburn Atlantic initiated coverage on Vertex Pharmaceuticals in a research report on Thursday, June 27th. They issued a “buy” rating and a $545.00 target price on the stock. Royal Bank of Canada reduced their price target on Vertex Pharmaceuticals from $431.00 to $425.00 and set a “sector perform” rating on the stock in a research report on Friday, October 4th. Oppenheimer raised their price objective on shares of Vertex Pharmaceuticals from $500.00 to $550.00 and gave the company an “outperform” rating in a report on Monday, August 5th. Barclays lowered Vertex Pharmaceuticals from an “overweight” rating to an “equal weight” rating and increased their target price for the company from $472.00 to $509.00 in a report on Monday, August 5th. Finally, TD Cowen increased their target price on Vertex Pharmaceuticals from $450.00 to $500.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $492.92.

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.