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

Jackson Wealth Management LLC lowered its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 47.5% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,866 shares of the pharmaceutical company’s stock after selling 1,689 shares during the quarter. Jackson Wealth Management LLC’s holdings in Vertex Pharmaceuticals were worth $875,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. University of Texas Texas AM Investment Managment Co. bought a new position in Vertex Pharmaceuticals during the fourth quarter valued at about $25,000. Annapolis Financial Services LLC acquired a new position in shares of Vertex Pharmaceuticals in the 1st quarter valued at $27,000. Arlington Trust Co LLC boosted its position in shares of Vertex Pharmaceuticals by 97.1% in the 4th quarter. Arlington Trust Co LLC now owns 67 shares of the pharmaceutical company’s stock valued at $27,000 after purchasing an additional 33 shares during the period. ICA Group Wealth Management LLC acquired a new position in shares of Vertex Pharmaceuticals in the 4th quarter valued at $28,000. Finally, Baystate Wealth Management LLC boosted its position in shares of Vertex Pharmaceuticals by 49.0% in the 4th quarter. Baystate Wealth Management LLC now owns 76 shares of the pharmaceutical company’s stock valued at $31,000 after purchasing an additional 25 shares during the period. Institutional investors own 90.96% of the company’s stock.

Vertex Pharmaceuticals Stock Performance

Shares of NASDAQ:VRTX traded down $11.32 during trading on Friday, hitting $494.46. 1,554,817 shares of the stock were exchanged, compared to its average volume of 1,047,953. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.29 and a current ratio of 3.50. The company has a market capitalization of $127.60 billion, a price-to-earnings ratio of 32.09 and a beta of 0.39. Vertex Pharmaceuticals Incorporated has a 1-year low of $340.20 and a 1-year high of $510.64. The company’s fifty day simple moving average is $479.25 and its 200-day simple moving average is $439.77.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its earnings results on Monday, May 6th. The pharmaceutical company reported $4.76 EPS for the quarter, topping the consensus estimate of $3.66 by $1.10. The business had revenue of $2.69 billion during the quarter, compared to the consensus estimate of $2.58 billion. Vertex Pharmaceuticals had a negative return on equity of 2.36% and a negative net margin of 4.74%. Vertex Pharmaceuticals’s revenue was up 13.3% on a year-over-year basis. During the same quarter last year, the company earned $2.67 EPS. Sell-side analysts expect that Vertex Pharmaceuticals Incorporated will post -1.04 EPS for the current fiscal year.

Insider Buying and Selling

In other Vertex Pharmaceuticals news, Director Bruce I. Sachs sold 5,295 shares of Vertex Pharmaceuticals stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $508.00, for a total value of $2,689,860.00. Following the completion of the transaction, the director now owns 40,000 shares in the company, valued at approximately $20,320,000. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, Director Bruce I. Sachs sold 5,295 shares of the business’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $508.00, for a total transaction of $2,689,860.00. Following the completion of the sale, the director now owns 40,000 shares in the company, valued at $20,320,000. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Bruce I. Sachs sold 7,073 shares of the business’s stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $448.00, for a total value of $3,168,704.00. Following the sale, the director now owns 40,000 shares of the company’s stock, valued at approximately $17,920,000. The disclosure for this sale can be found here. Insiders sold 53,423 shares of company stock worth $25,528,865 in the last 90 days. 0.20% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on VRTX shares. Oppenheimer reiterated an “outperform” rating and issued a $500.00 price target on shares of Vertex Pharmaceuticals in a research report on Monday, April 15th. UBS Group decreased their price target on Vertex Pharmaceuticals from $498.00 to $466.00 and set a “buy” rating for the company in a research report on Wednesday, April 17th. Wells Fargo & Company increased their price objective on Vertex Pharmaceuticals from $540.00 to $555.00 and gave the stock an “overweight” rating in a research note on Monday, June 24th. Guggenheim increased their price objective on Vertex Pharmaceuticals from $450.00 to $558.00 and gave the stock a “buy” rating in a research note on Friday. Finally, Royal Bank of Canada reduced their price objective on Vertex Pharmaceuticals from $424.00 to $421.00 and set a “sector perform” rating for the company in a research note on Tuesday, June 11th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat.com, Vertex Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus price target of $472.23.

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.