Apollon Wealth Management LLC Has $3.81 Million Holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Apollon Wealth Management LLC raised its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 10.7% during the third quarter, according to its most recent filing with the SEC. The firm owned 8,196 shares of the pharmaceutical company’s stock after purchasing an additional 793 shares during the period. Apollon Wealth Management LLC’s holdings in Vertex Pharmaceuticals were worth $3,812,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of VRTX. Nations Financial Group Inc. IA ADV grew its holdings in Vertex Pharmaceuticals by 6.0% during the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 3,981 shares of the pharmaceutical company’s stock worth $1,851,000 after acquiring an additional 226 shares during the period. Laffer Tengler Investments Inc. grew its stake in Vertex Pharmaceuticals by 2.9% during the third quarter. Laffer Tengler Investments Inc. now owns 2,874 shares of the pharmaceutical company’s stock worth $1,337,000 after purchasing an additional 82 shares during the period. Venturi Wealth Management LLC increased its holdings in Vertex Pharmaceuticals by 1.6% in the third quarter. Venturi Wealth Management LLC now owns 2,532 shares of the pharmaceutical company’s stock worth $1,178,000 after purchasing an additional 40 shares in the last quarter. Ashton Thomas Securities LLC lifted its stake in Vertex Pharmaceuticals by 6.3% in the third quarter. Ashton Thomas Securities LLC now owns 3,189 shares of the pharmaceutical company’s stock valued at $1,483,000 after buying an additional 188 shares during the period. Finally, Legacy Capital Wealth Partners LLC grew its position in shares of Vertex Pharmaceuticals by 85.5% during the 3rd quarter. Legacy Capital Wealth Partners LLC now owns 1,087 shares of the pharmaceutical company’s stock worth $506,000 after buying an additional 501 shares during the period. 90.96% of the stock is owned by institutional investors.

Vertex Pharmaceuticals Price Performance

Vertex Pharmaceuticals stock 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. The firm has a 50 day moving average price of $475.52 and a 200-day moving average price of $469.66. Vertex Pharmaceuticals Incorporated has a twelve month low of $341.90 and a twelve month high of $519.88.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its earnings results 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. The business had revenue of $2.77 billion during 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%. The business’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same period last year, the business posted $3.67 earnings per share. On average, sell-side analysts predict that Vertex Pharmaceuticals Incorporated will post -1.82 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on VRTX shares. Barclays lowered shares of Vertex Pharmaceuticals from an “overweight” rating to an “equal weight” rating and increased their target price for the stock from $472.00 to $509.00 in a research note on Monday, August 5th. Oppenheimer reduced their target price on Vertex Pharmaceuticals from $550.00 to $540.00 and set an “outperform” rating for the company in a research note on Wednesday, October 30th. Bank of America dropped their price target on Vertex Pharmaceuticals from $550.00 to $541.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. JPMorgan Chase & Co. decreased their price objective on Vertex Pharmaceuticals from $510.00 to $503.00 and set an “overweight” rating for the company in a report on Tuesday, November 5th. Finally, UBS Group increased their target price on Vertex Pharmaceuticals from $562.00 to $586.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Vertex Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average target price of $495.96.

Insider Buying and Selling at Vertex Pharmaceuticals

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

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.