Apollon Wealth Management LLC Grows Stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Apollon Wealth Management LLC increased its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 10.7% during the 3rd quarter, Holdings Channel reports. The firm owned 8,196 shares of the pharmaceutical company’s stock after purchasing an additional 793 shares during the quarter. Apollon Wealth Management LLC’s holdings in Vertex Pharmaceuticals were worth $3,812,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of VRTX. Groesbeck Investment Management Corp NJ increased its stake in Vertex Pharmaceuticals by 1.2% in the second quarter. Groesbeck Investment Management Corp NJ now owns 1,794 shares of the pharmaceutical company’s stock valued at $841,000 after acquiring an additional 21 shares during the last quarter. Mutual Advisors LLC increased its position in shares of Vertex Pharmaceuticals by 0.6% during the 3rd quarter. Mutual Advisors LLC now owns 3,710 shares of the pharmaceutical company’s stock valued at $1,751,000 after purchasing an additional 21 shares during the last quarter. Institute for Wealth Management LLC. increased its position in shares of Vertex Pharmaceuticals by 0.6% during the 2nd quarter. Institute for Wealth Management LLC. now owns 3,586 shares of the pharmaceutical company’s stock valued at $1,681,000 after purchasing an additional 22 shares during the last quarter. Drive Wealth Management LLC raised its holdings in shares of Vertex Pharmaceuticals by 2.0% during the 2nd quarter. Drive Wealth Management LLC now owns 1,101 shares of the pharmaceutical company’s stock valued at $516,000 after buying an additional 22 shares in the last quarter. Finally, Daymark Wealth Partners LLC lifted its position in Vertex Pharmaceuticals by 2.8% in the 3rd quarter. Daymark Wealth Partners LLC now owns 804 shares of the pharmaceutical company’s stock worth $374,000 after buying an additional 22 shares during the last quarter. Hedge funds and other institutional investors own 90.96% of the company’s stock.

Vertex Pharmaceuticals Trading Down 2.3 %

Shares of NASDAQ:VRTX opened at $490.00 on Wednesday. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.47 and a quick ratio of 2.20. Vertex Pharmaceuticals Incorporated has a 52-week low of $341.90 and a 52-week high of $519.88. The stock has a 50 day moving average price of $475.52 and a 200-day moving average price of $469.66.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly earnings data on Monday, November 4th. The pharmaceutical company reported $4.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.61 by $0.77. Vertex Pharmaceuticals had a negative return on equity of 1.91% and a negative net margin of 4.52%. The business had revenue of $2.77 billion during the quarter, compared to the consensus estimate of $2.69 billion. During the same quarter in the prior year, the company earned $3.67 earnings per share. The firm’s quarterly revenue was up 11.6% compared to the same quarter last year. On average, equities research analysts forecast that Vertex Pharmaceuticals Incorporated will post -1.82 EPS for the current year.

Insider Activity at Vertex Pharmaceuticals

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 transaction of $323,000.00. Following the completion of the transaction, the director now 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 link. In other news, Director Sangeeta N. Bhatia sold 646 shares of Vertex Pharmaceuticals stock in a transaction dated 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 transaction, the director now owns 4,435 shares of the company’s stock, valued at $2,217,500. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Jeffrey M. Leiden sold 3,784 shares of the stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $499.00, for a total transaction of $1,888,216.00. Following the sale, the chairman now directly owns 9,994 shares in the company, valued at $4,987,006. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.20% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have commented on VRTX shares. Morgan Stanley lifted their price target on shares of Vertex Pharmaceuticals from $473.00 to $476.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 5th. StockNews.com upgraded shares of Vertex Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research report on Wednesday. Canaccord Genuity Group upped their price target on shares of Vertex Pharmaceuticals from $361.00 to $408.00 and gave the company a “sell” rating in a research report on Wednesday, November 6th. Barclays downgraded Vertex Pharmaceuticals from an “overweight” rating to an “equal weight” rating and lifted their price objective for the stock from $472.00 to $509.00 in a report on Monday, August 5th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $480.00 target price on shares of Vertex Pharmaceuticals in a report on Tuesday, November 5th. Three analysts have rated the stock with a sell rating, nine have given a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Vertex Pharmaceuticals has an average rating of “Moderate Buy” and a consensus target price of $495.96.

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.