Jackson Wealth Management LLC Purchases 1,682 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

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

A number of other hedge funds also recently made changes to their positions in VRTX. Commonwealth Financial Services LLC purchased a new position in Vertex Pharmaceuticals in the 3rd quarter worth approximately $205,000. Greystone Financial Group LLC lifted its holdings in Vertex Pharmaceuticals by 24.8% in the 3rd quarter. Greystone Financial Group LLC now owns 1,117 shares of the pharmaceutical company’s stock worth $519,000 after purchasing an additional 222 shares in the last quarter. Global Assets Advisory LLC purchased a new position in Vertex Pharmaceuticals in the 3rd quarter worth approximately $423,000. International Assets Investment Management LLC raised its holdings in shares of Vertex Pharmaceuticals by 74,015.5% during the 3rd quarter. International Assets Investment Management LLC now owns 324,626 shares of the pharmaceutical company’s stock worth $150,977,000 after acquiring an additional 324,188 shares in the last quarter. Finally, McAdam LLC raised its holdings in shares of Vertex Pharmaceuticals by 4.6% during the 3rd quarter. McAdam LLC now owns 2,636 shares of the pharmaceutical company’s stock worth $1,226,000 after acquiring an additional 116 shares in the last quarter. 90.96% of the stock is currently owned by institutional investors.

Vertex Pharmaceuticals Trading Up 1.0 %

Shares of NASDAQ:VRTX traded up $4.56 during 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. Vertex Pharmaceuticals Incorporated has a 12-month low of $341.90 and a 12-month high of $510.64. The company has a current ratio of 2.52, a quick ratio of 2.26 and a debt-to-equity ratio of 0.02. The stock has a 50-day simple moving average of $475.60 and a two-hundred day simple moving average of $461.29.

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

Analysts Set New Price Targets

VRTX has been the topic of several recent research reports. Royal Bank of Canada decreased their price objective on Vertex Pharmaceuticals from $431.00 to $425.00 and set a “sector perform” rating on the stock in a report on Friday, October 4th. Bank of America decreased their price objective on Vertex Pharmaceuticals from $550.00 to $541.00 and set a “buy” rating on the stock in a report on Monday, October 14th. Morgan Stanley increased their price target on Vertex Pharmaceuticals from $462.00 to $474.00 and gave the company an “equal weight” rating in a report on Tuesday, October 1st. Needham & Company LLC restated a “hold” rating on shares of Vertex Pharmaceuticals in a report on Friday, July 26th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $480.00 price target on shares of Vertex Pharmaceuticals in a report on Tuesday, October 8th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $492.92.

Insider Buying and Selling

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 stock was sold at an average price of $500.00, for a total value of $323,000.00. Following the sale, the director now directly owns 4,435 shares of the company’s stock, 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 is accessible through this hyperlink. In other Vertex Pharmaceuticals news, CMO Carmen Bozic sold 2,280 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $476.75, for a total value of $1,086,990.00. Following the sale, the chief marketing officer now directly owns 23,259 shares of the company’s stock, valued at approximately $11,088,728.25. 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 is accessible through this hyperlink. Also, Director Sangeeta N. Bhatia sold 646 shares of Vertex Pharmaceuticals stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $500.00, for a total value of $323,000.00. Following the completion of the sale, the director now directly owns 4,435 shares in the company, valued at $2,217,500. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 12,005 shares of company stock valued at $5,988,066 over the last ninety days. Company insiders own 0.20% of the company’s stock.

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.