Jupiter Wealth Management LLC Invests $266,000 in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)
Jupiter Wealth Management LLC acquired a new position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) in the 2nd quarter, HoldingsChannel.com reports. The firm acquired 1,500 shares of the pharmaceutical company’s stock, valued at approximately $266,000.
Several other large investors have also recently made changes to their positions in VRTX. FMR LLC grew its holdings in Vertex Pharmaceuticals by 19.3% during the first quarter. FMR LLC now owns 24,434,159 shares of the pharmaceutical company’s stock worth $4,494,663,000 after acquiring an additional 3,951,050 shares during the period. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in Vertex Pharmaceuticals by 2.9% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,102,654 shares of the pharmaceutical company’s stock worth $202,833,000 after acquiring an additional 30,705 shares during the period. Clark Capital Management Group Inc. grew its holdings in Vertex Pharmaceuticals by 44.2% during the second quarter. Clark Capital Management Group Inc. now owns 1,839 shares of the pharmaceutical company’s stock worth $337,000 after acquiring an additional 564 shares during the period. Andra AP fonden acquired a new stake in Vertex Pharmaceuticals during the first quarter worth about $5,316,000. Finally, Barings LLC grew its holdings in Vertex Pharmaceuticals by 104.9% during the first quarter. Barings LLC now owns 15,529 shares of the pharmaceutical company’s stock worth $2,856,000 after acquiring an additional 7,952 shares during the period. Hedge funds and other institutional investors own 94.70% of the company’s stock.
Shares of NASDAQ:VRTX traded up $3.82 during trading on Friday, reaching $184.94. The stock had a trading volume of 1,304,200 shares, compared to its average volume of 1,462,886. The company has a debt-to-equity ratio of 0.12, a quick ratio of 3.63 and a current ratio of 3.74. The business has a fifty day moving average price of $177.09 and a 200-day moving average price of $178.45. The stock has a market cap of $46.55 billion, a PE ratio of 65.35, a PEG ratio of 2.36 and a beta of 1.40. Vertex Pharmaceuticals Incorporated has a 1-year low of $151.80 and a 1-year high of $195.81.
Vertex Pharmaceuticals announced that its Board of Directors has initiated a share buyback program on Wednesday, July 31st that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the pharmaceutical company to purchase up to 1.2% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its stock is undervalued.
VRTX has been the topic of several analyst reports. Credit Suisse Group raised their target price on Vertex Pharmaceuticals from $209.00 to $213.00 and gave the stock an “outperform” rating in a report on Thursday, August 1st. Maxim Group reaffirmed a “hold” rating on shares of Vertex Pharmaceuticals in a report on Friday, August 2nd. Cowen set a $220.00 target price on Vertex Pharmaceuticals and gave the stock a “buy” rating in a report on Wednesday, July 31st. Royal Bank of Canada set a $213.00 target price on Vertex Pharmaceuticals and gave the stock a “buy” rating in a report on Monday, August 12th. Finally, Needham & Company LLC lowered Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, nine have issued a hold rating and fifteen have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $206.95.
In other news, CEO Jeffrey M. Leiden sold 113,432 shares of Vertex Pharmaceuticals stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $175.10, for a total value of $19,861,943.20. Following the sale, the chief executive officer now directly owns 219,719 shares of the company’s stock, valued at $38,472,796.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Stuart A. Arbuckle sold 2,125 shares of Vertex Pharmaceuticals stock in a transaction that occurred on Wednesday, June 19th. The stock was sold at an average price of $181.89, for a total value of $386,516.25. Following the completion of the sale, the executive vice president now directly owns 35,365 shares in the company, valued at $6,432,539.85. The disclosure for this sale can be found here. Insiders sold 195,292 shares of company stock worth $34,357,560 over the last ninety days. Corporate insiders own 0.70% of the company’s stock.
Vertex Pharmaceuticals Company Profile
Vertex Pharmaceuticals Incorporated engages in developing and commercializing therapies for treating cystic fibrosis. The company markets SYMDEKO/SYMKEVI, ORKAMBI, and KALYDECO to treat patients with cystic fibrosis who have specific mutations in their cystic fibrosis transmembrane conductance regulator gene.
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