Jupiter Topco LLC Makes New $625.80 Million Investment in Vertex Pharmaceuticals Incorporated $VRTX

Jupiter Topco LLC purchased a new position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,259,997 shares of the pharmaceutical company’s stock, valued at approximately $625,804,000. Jupiter Topco LLC owned about 0.50% of Vertex Pharmaceuticals at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Brighton Jones LLC increased its position in shares of Vertex Pharmaceuticals by 15.0% during the 4th quarter. Brighton Jones LLC now owns 4,427 shares of the pharmaceutical company’s stock valued at $1,783,000 after purchasing an additional 579 shares during the last quarter. Gamco Investors INC. ET AL bought a new stake in Vertex Pharmaceuticals in the 2nd quarter worth approximately $228,000. NewEdge Advisors LLC boosted its stake in Vertex Pharmaceuticals by 9.0% in the second quarter. NewEdge Advisors LLC now owns 11,929 shares of the pharmaceutical company’s stock worth $5,311,000 after buying an additional 986 shares in the last quarter. ICW Investment Advisors LLC grew its position in Vertex Pharmaceuticals by 5.0% during the second quarter. ICW Investment Advisors LLC now owns 604 shares of the pharmaceutical company’s stock valued at $269,000 after acquiring an additional 29 shares during the last quarter. Finally, Diversify Advisory Services LLC raised its stake in shares of Vertex Pharmaceuticals by 26.3% during the second quarter. Diversify Advisory Services LLC now owns 7,291 shares of the pharmaceutical company’s stock worth $3,246,000 after acquiring an additional 1,518 shares in the last quarter. Hedge funds and other institutional investors own 90.96% of the company’s stock.

Insider Activity at Vertex Pharmaceuticals

In related news, EVP Ourania Tatsis sold 1,500 shares of the company’s stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $524.99, for a total value of $787,485.00. Following the sale, the executive vice president owned 45,321 shares in the company, valued at $23,793,071.79. This represents a 3.20% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CMO Carmen Bozic sold 4,062 shares of Vertex Pharmaceuticals stock in a transaction on Monday, June 15th. The shares were sold at an average price of $450.00, for a total value of $1,827,900.00. Following the transaction, the chief marketing officer owned 16,953 shares of the company’s stock, valued at $7,628,850. The trade was a 19.33% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 10,464 shares of company stock valued at $4,959,397 in the last three months. Company insiders own 0.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on VRTX shares. Morgan Stanley upped their price objective on shares of Vertex Pharmaceuticals from $612.00 to $616.00 and gave the company an “overweight” rating in a research note on Tuesday, May 5th. Canaccord Genuity Group boosted their price target on shares of Vertex Pharmaceuticals from $436.00 to $442.00 and gave the stock a “hold” rating in a research note on Tuesday, August 4th. Stifel Nicolaus set a $500.00 price objective on Vertex Pharmaceuticals in a research note on Tuesday, August 4th. Truist Financial lifted their price objective on Vertex Pharmaceuticals from $560.00 to $565.00 and gave the stock a “buy” rating in a report on Wednesday, August 5th. Finally, Wall Street Zen cut Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Sunday, June 28th. One analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $563.50.

Vertex Pharmaceuticals Trading Up 1.0%

NASDAQ:VRTX opened at $552.85 on Wednesday. The company has a 50-day moving average price of $496.59 and a 200-day moving average price of $467.04. The stock has a market cap of $140.31 billion, a price-to-earnings ratio of 32.18, a P/E/G ratio of 2.27 and a beta of 0.30. Vertex Pharmaceuticals Incorporated has a 12 month low of $374.17 and a 12 month high of $555.69.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings data on Monday, August 3rd. The pharmaceutical company reported $4.73 EPS for the quarter, missing the consensus estimate of $4.74 by ($0.01). The company had revenue of $3.33 billion during the quarter, compared to analysts’ expectations of $3.23 billion. Vertex Pharmaceuticals had a return on equity of 23.09% and a net margin of 35.00%.The business’s quarterly revenue was up 12.5% on a year-over-year basis. During the same quarter last year, the business earned $4.52 earnings per share. Equities analysts forecast that Vertex Pharmaceuticals Incorporated will post 16.86 EPS for the current fiscal year.

Vertex Pharmaceuticals Company 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.