Jones Financial Companies Lllp Has $2.75 Million Holdings in Vertex Pharmaceuticals Incorporated $VRTX

Jones Financial Companies Lllp grew its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 18.4% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,124 shares of the pharmaceutical company’s stock after purchasing an additional 1,108 shares during the quarter. Jones Financial Companies Lllp’s holdings in Vertex Pharmaceuticals were worth $2,749,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of VRTX. Chesapeake Asset Management LLC boosted its holdings in Vertex Pharmaceuticals by 110.0% during the third quarter. Chesapeake Asset Management LLC now owns 63 shares of the pharmaceutical company’s stock worth $25,000 after purchasing an additional 33 shares during the last quarter. Access Investment Management LLC bought a new position in shares of Vertex Pharmaceuticals during the 2nd quarter worth approximately $27,000. Legacy Investment Solutions LLC purchased a new position in shares of Vertex Pharmaceuticals in the 2nd quarter worth approximately $29,000. Total Investment Management Inc. bought a new position in shares of Vertex Pharmaceuticals in the second quarter valued at approximately $33,000. Finally, Financial Network Wealth Advisors LLC increased its position in shares of Vertex Pharmaceuticals by 50.9% during the third quarter. Financial Network Wealth Advisors LLC now owns 86 shares of the pharmaceutical company’s stock valued at $34,000 after acquiring an additional 29 shares during the last quarter. Institutional investors own 90.96% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on VRTX shares. Leerink Partners boosted their price target on shares of Vertex Pharmaceuticals from $456.00 to $525.00 and gave the stock an “outperform” rating in a report on Monday, December 29th. Sanford C. Bernstein upgraded shares of Vertex Pharmaceuticals from a “market perform” rating to an “outperform” rating in a research note on Monday, January 12th. Barclays raised shares of Vertex Pharmaceuticals from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $414.00 to $606.00 in a research report on Tuesday, January 27th. Weiss Ratings raised shares of Vertex Pharmaceuticals from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday. Finally, Morgan Stanley set a $564.00 price objective on Vertex Pharmaceuticals in a report on Friday, December 5th. One research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $522.68.

Insider Buying and Selling

In other Vertex Pharmaceuticals news, EVP Ourania Tatsis sold 4,500 shares of Vertex Pharmaceuticals stock in a transaction that occurred on Wednesday, January 7th. The stock was sold at an average price of $474.99, for a total transaction of $2,137,455.00. Following the sale, the executive vice president directly owned 42,293 shares of the company’s stock, valued at approximately $20,088,752.07. The trade was a 9.62% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Charles F. Wagner, Jr. sold 9,532 shares of the company’s stock in a transaction on Tuesday, January 6th. The stock was sold at an average price of $461.00, for a total value of $4,394,252.00. Following the completion of the sale, the executive vice president directly owned 37,725 shares in the company, valued at approximately $17,391,225. The trade was a 20.17% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 165,105 shares of company stock valued at $73,858,523 over the last ninety days. 0.20% of the stock is owned by insiders.

Vertex Pharmaceuticals Trading Up 4.2%

Shares of NASDAQ:VRTX opened at $477.92 on Monday. The stock has a market capitalization of $121.26 billion, a P/E ratio of 33.70 and a beta of 0.30. The stock’s 50-day moving average price is $457.64 and its 200-day moving average price is $427.10. Vertex Pharmaceuticals Incorporated has a 12-month low of $362.50 and a 12-month high of $519.68.

Vertex Pharmaceuticals Profile

Vertex Pharmaceuticals Inc is a Boston-based biotechnology company focused on the discovery, development and commercialization of therapies for serious diseases. Founded in 1989, Vertex built its reputation on research-driven drug development and is best known for its work in cystic fibrosis (CF), where its portfolio of small-molecule CFTR modulators transformed standards of care for many people with the disease. The company operates research and development, manufacturing and commercial organizations and serves patients and healthcare systems in multiple international markets.

Vertex’s marketed products center on CFTR modulators that target the underlying cause of cystic fibrosis rather than just treating symptoms.