Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Position Raised by Apollon Wealth Management LLC

Apollon Wealth Management LLC raised its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 29.1% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 6,360 shares of the pharmaceutical company’s stock after purchasing an additional 1,435 shares during the quarter. Apollon Wealth Management LLC’s holdings in Vertex Pharmaceuticals were worth $2,588,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of Vertex Pharmaceuticals by 0.4% in the 3rd quarter. Vanguard Group Inc. now owns 21,983,356 shares of the pharmaceutical company’s stock worth $7,644,492,000 after purchasing an additional 87,397 shares during the last quarter. Jennison Associates LLC increased its holdings in shares of Vertex Pharmaceuticals by 3.9% in the fourth quarter. Jennison Associates LLC now owns 3,944,913 shares of the pharmaceutical company’s stock valued at $1,605,146,000 after buying an additional 147,248 shares in the last quarter. Morgan Stanley lifted its position in shares of Vertex Pharmaceuticals by 3.2% during the 3rd quarter. Morgan Stanley now owns 2,870,101 shares of the pharmaceutical company’s stock valued at $998,050,000 after acquiring an additional 89,217 shares during the last quarter. Northern Trust Corp boosted its stake in shares of Vertex Pharmaceuticals by 4.9% during the 3rd quarter. Northern Trust Corp now owns 2,813,563 shares of the pharmaceutical company’s stock worth $978,388,000 after acquiring an additional 131,539 shares in the last quarter. Finally, Invesco Ltd. grew its holdings in shares of Vertex Pharmaceuticals by 3.5% in the 3rd quarter. Invesco Ltd. now owns 2,016,780 shares of the pharmaceutical company’s stock worth $701,315,000 after acquiring an additional 67,451 shares during the last quarter. 90.96% of the stock is owned by institutional investors and hedge funds.

Vertex Pharmaceuticals Stock Performance

Vertex Pharmaceuticals stock traded up $7.74 on Tuesday, reaching $410.24. 1,614,025 shares of the stock were exchanged, compared to its average volume of 1,230,101. The company has a current ratio of 3.99, a quick ratio of 3.78 and a debt-to-equity ratio of 0.02. The firm has a fifty day moving average price of $408.44 and a two-hundred day moving average price of $400.41. The stock has a market cap of $106.03 billion, a PE ratio of 29.29, a PEG ratio of 1.89 and a beta of 0.39. Vertex Pharmaceuticals Incorporated has a twelve month low of $320.01 and a twelve month high of $448.40.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings results on Monday, May 6th. The pharmaceutical company reported $4.76 EPS for the quarter, topping the consensus estimate of $3.66 by $1.10. The company had revenue of $2.69 billion for the quarter, compared to the consensus estimate of $2.58 billion. Vertex Pharmaceuticals had a return on equity of 21.91% and a net margin of 36.68%. The company’s revenue for the quarter was up 13.3% on a year-over-year basis. During the same period in the previous year, the business posted $2.67 EPS. Sell-side analysts anticipate that Vertex Pharmaceuticals Incorporated will post 14.95 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on VRTX. Needham & Company LLC reiterated a “hold” rating on shares of Vertex Pharmaceuticals in a research report on Tuesday. Canaccord Genuity Group restated a “sell” rating and set a $371.00 price target on shares of Vertex Pharmaceuticals in a report on Friday, April 12th. Sanford C. Bernstein lowered shares of Vertex Pharmaceuticals from an “outperform” rating to a “market perform” rating in a research note on Friday, February 2nd. HC Wainwright restated a “buy” rating and issued a $462.00 target price on shares of Vertex Pharmaceuticals in a report on Tuesday. Finally, Oppenheimer reiterated an “outperform” rating and set a $500.00 price target on shares of Vertex Pharmaceuticals in a report on Monday, April 15th. Three analysts have rated the stock with a sell rating, seven have given a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Vertex Pharmaceuticals has an average rating of “Moderate Buy” and an average target price of $432.18.

Insiders Place Their Bets

In other Vertex Pharmaceuticals news, COO Stuart A. Arbuckle sold 4,295 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $420.24, for a total value of $1,804,930.80. Following the completion of the transaction, the chief operating officer now owns 75,718 shares of the company’s stock, valued at approximately $31,819,732.32. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CAO Kristen Ambrose sold 1,374 shares of the company’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $420.24, for a total value of $577,409.76. Following the sale, the chief accounting officer now owns 9,676 shares of the company’s stock, valued at $4,066,242.24. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Stuart A. Arbuckle sold 4,295 shares of the firm’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $420.24, for a total transaction of $1,804,930.80. Following the transaction, the chief operating officer now owns 75,718 shares of the company’s stock, valued at approximately $31,819,732.32. The disclosure for this sale can be found here. Insiders have sold 12,381 shares of company stock worth $5,203,249 in the last ninety days. 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.