Jackson Wealth Management LLC Purchases 46 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Jackson Wealth Management LLC increased its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 1.3% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,555 shares of the pharmaceutical company’s stock after acquiring an additional 46 shares during the quarter. Jackson Wealth Management LLC’s holdings in Vertex Pharmaceuticals were worth $1,486,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Venturi Wealth Management LLC boosted its position in shares of Vertex Pharmaceuticals by 1.1% during the fourth quarter. Venturi Wealth Management LLC now owns 2,293 shares of the pharmaceutical company’s stock worth $933,000 after acquiring an additional 24 shares during the last quarter. Nicholas Hoffman & Company LLC. boosted its position in shares of Vertex Pharmaceuticals by 3.9% during the fourth quarter. Nicholas Hoffman & Company LLC. now owns 636 shares of the pharmaceutical company’s stock worth $259,000 after acquiring an additional 24 shares during the last quarter. Hohimer Wealth Management LLC boosted its position in shares of Vertex Pharmaceuticals by 0.8% during the fourth quarter. Hohimer Wealth Management LLC now owns 2,932 shares of the pharmaceutical company’s stock worth $1,193,000 after acquiring an additional 24 shares during the last quarter. Johnson Financial Group Inc. boosted its position in shares of Vertex Pharmaceuticals by 2.5% during the fourth quarter. Johnson Financial Group Inc. now owns 1,001 shares of the pharmaceutical company’s stock worth $407,000 after acquiring an additional 24 shares during the last quarter. Finally, Baystate Wealth Management LLC lifted its position in Vertex Pharmaceuticals by 49.0% during the fourth 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 last quarter. Institutional investors own 90.96% of the company’s stock.

Insider Buying and Selling at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, Director Bruce I. Sachs sold 5,295 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at approximately $20,320,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Vertex Pharmaceuticals news, insider Reshma Kewalramani 15,202 shares of the firm’s stock in a transaction on Tuesday, July 30th. The was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Bruce I. Sachs sold 5,295 shares of the firm’s stock in a transaction dated 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 completion of the sale, the director now owns 40,000 shares in the company, valued at $20,320,000. The disclosure for this sale can be found here. In the last quarter, insiders have sold 53,423 shares of company stock valued at $25,528,865. Company insiders own 0.20% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Royal Bank of Canada lowered their price objective on shares of Vertex Pharmaceuticals from $424.00 to $421.00 and set a “sector perform” rating for the company in a research report on Tuesday, June 11th. Wells Fargo & Company increased their price objective on shares of Vertex Pharmaceuticals from $540.00 to $555.00 and gave the company an “overweight” rating in a research report on Monday, June 24th. Guggenheim increased their price objective on shares of Vertex Pharmaceuticals from $450.00 to $558.00 and gave the company a “buy” rating in a research report on Friday. Piper Sandler increased their target price on shares of Vertex Pharmaceuticals from $500.00 to $535.00 and gave the company an “overweight” rating in a research note on Friday. Finally, StockNews.com downgraded shares of Vertex Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 26th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $472.23.

Vertex Pharmaceuticals Trading Down 2.2 %

VRTX stock traded down $11.32 during trading on Friday, hitting $494.46. The company had a trading volume of 1,554,817 shares, compared to its average volume of 1,047,953. The firm has a market capitalization of $127.60 billion, a P/E ratio of 32.09 and a beta of 0.39. Vertex Pharmaceuticals Incorporated has a 52-week low of $340.20 and a 52-week high of $510.64. The company has a 50 day simple moving average of $479.25 and a 200-day simple moving average of $439.77. The company has a quick ratio of 3.29, a current ratio of 3.50 and a debt-to-equity ratio of 0.02.

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