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

Jackson Wealth Management LLC cut its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 1.3% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 3,502 shares of the pharmaceutical company’s stock after selling 46 shares during the period. Jackson Wealth Management LLC’s holdings in Vertex Pharmaceuticals were worth $1,410,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the business. Edgewood Management LLC boosted its holdings in shares of Vertex Pharmaceuticals by 7,876.3% during the third quarter. Edgewood Management LLC now owns 1,546,370 shares of the pharmaceutical company’s stock valued at $719,186,000 after acquiring an additional 1,526,983 shares during the period. Jennison Associates LLC boosted its stake in Vertex Pharmaceuticals by 18.1% during the 3rd quarter. Jennison Associates LLC now owns 5,550,386 shares of the pharmaceutical company’s stock valued at $2,581,373,000 after purchasing an additional 851,054 shares during the period. Wellington Management Group LLP grew its position in Vertex Pharmaceuticals by 17.2% in the 3rd quarter. Wellington Management Group LLP now owns 4,798,870 shares of the pharmaceutical company’s stock worth $2,231,858,000 after purchasing an additional 704,421 shares during the last quarter. Assenagon Asset Management S.A. increased its stake in shares of Vertex Pharmaceuticals by 169.4% in the fourth quarter. Assenagon Asset Management S.A. now owns 839,672 shares of the pharmaceutical company’s stock valued at $338,136,000 after purchasing an additional 528,029 shares during the period. Finally, International Assets Investment Management LLC raised its holdings in shares of Vertex Pharmaceuticals by 74,015.5% during the third quarter. International Assets Investment Management LLC now owns 324,626 shares of the pharmaceutical company’s stock valued at $150,977,000 after buying an additional 324,188 shares during the last quarter. Institutional investors own 90.96% of the company’s stock.

Vertex Pharmaceuticals Price Performance

NASDAQ VRTX opened at $482.28 on Wednesday. The firm’s 50 day moving average price is $434.73 and its two-hundred day moving average price is $462.62. The company has a current ratio of 2.47, a quick ratio of 2.20 and a debt-to-equity ratio of 0.01. Vertex Pharmaceuticals Incorporated has a twelve month low of $377.85 and a twelve month high of $519.88.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings results on Monday, November 4th. The pharmaceutical company reported $4.38 earnings per share for the quarter, beating analysts’ consensus estimates of $3.61 by $0.77. The business had revenue of $2.77 billion for the quarter, compared to the consensus estimate of $2.69 billion. Vertex Pharmaceuticals had a negative return on equity of 1.91% and a negative net margin of 4.52%. Vertex Pharmaceuticals’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.67 earnings per share. As a group, sell-side analysts forecast that Vertex Pharmaceuticals Incorporated will post -1.93 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms recently commented on VRTX. Truist Financial lowered their target price on Vertex Pharmaceuticals from $550.00 to $460.00 and set a “buy” rating on the stock in a research report on Monday, December 23rd. Morgan Stanley raised their price target on Vertex Pharmaceuticals from $473.00 to $476.00 and gave the company an “equal weight” rating in a report on Tuesday, November 5th. Scotiabank upped their price objective on shares of Vertex Pharmaceuticals from $430.00 to $433.00 and gave the stock a “sector perform” rating in a report on Friday, January 31st. Royal Bank of Canada raised their target price on shares of Vertex Pharmaceuticals from $437.00 to $451.00 and gave the company a “sector perform” rating in a research note on Tuesday, November 5th. Finally, BMO Capital Markets reduced their price target on shares of Vertex Pharmaceuticals from $566.00 to $520.00 and set an “outperform” rating for the company in a research note on Friday, December 20th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Vertex Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus price target of $502.58.

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.