Key Points
- Insider sale: Chairman Jeffrey Leiden sold 19,688 shares on November 13 at an average price of $440.27 for about $8.67 million, cutting his stake by 45.04% to 24,026 shares (SEC filing).
- Strong quarter: Vertex beat expectations with $4.80 EPS (vs. $4.58 est.) and $3.08 billion in revenue (up 11% year-over-year) and reported a net margin of 31.86%.
- Market view: The company has a market cap of roughly $110.1 billion, a P/E of ~31, a consensus rating of "Moderate Buy" and an average analyst price target near $491.95.
Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Get Free Report) Chairman Jeffrey Leiden sold 19,688 shares of the company's stock in a transaction dated Thursday, November 13th. The shares were sold at an average price of $440.27, for a total transaction of $8,668,035.76. Following the sale, the chairman owned 24,026 shares of the company's stock, valued at approximately $10,577,927.02. The trade was a 45.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.
Vertex Pharmaceuticals Trading Down 0.7%
VRTX opened at $434.02 on Tuesday. Vertex Pharmaceuticals Incorporated has a 12 month low of $362.50 and a 12 month high of $519.68. The business's 50-day moving average price is $408.82 and its 200-day moving average price is $426.27. The company has a market cap of $110.12 billion, a P/E ratio of 31.02 and a beta of 0.36.
Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last posted its quarterly earnings results on Monday, November 3rd. The pharmaceutical company reported $4.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.58 by $0.22. The business had revenue of $3.08 billion for the quarter, compared to analyst estimates of $3.05 billion. Vertex Pharmaceuticals had a return on equity of 23.91% and a net margin of 31.86%.Vertex Pharmaceuticals's revenue for the quarter was up 11.0% compared to the same quarter last year. During the same period last year, the company earned $4.38 EPS. Vertex Pharmaceuticals has set its FY 2025 guidance at EPS. Equities research analysts forecast that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
VRTX has been the topic of several analyst reports. Truist Financial set a $490.00 target price on shares of Vertex Pharmaceuticals and gave the stock a "buy" rating in a research note on Tuesday, August 5th. HC Wainwright cut their price target on shares of Vertex Pharmaceuticals from $550.00 to $478.00 and set a "buy" rating on the stock in a report on Tuesday, August 5th. Canaccord Genuity Group lowered their price objective on shares of Vertex Pharmaceuticals from $424.00 to $411.00 and set a "hold" rating for the company in a research note on Wednesday, August 6th. Leerink Partnrs upgraded shares of Vertex Pharmaceuticals from a "hold" rating to a "strong-buy" rating in a report on Thursday, September 25th. Finally, Evercore ISI reduced their price target on Vertex Pharmaceuticals from $510.00 to $475.00 and set an "outperform" rating on the stock in a report on Thursday, September 11th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and eleven have assigned a Hold rating to the company's stock. According to data from MarketBeat, Vertex Pharmaceuticals currently has a consensus rating of "Moderate Buy" and a consensus price target of $491.95.
Get Our Latest Stock Analysis on VRTX
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Norges Bank bought a new stake in Vertex Pharmaceuticals in the 2nd quarter worth about $1,593,974,000. Capital International Investors boosted its holdings in shares of Vertex Pharmaceuticals by 77.9% during the 3rd quarter. Capital International Investors now owns 4,689,059 shares of the pharmaceutical company's stock valued at $1,836,550,000 after acquiring an additional 2,053,156 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Vertex Pharmaceuticals by 72.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,917,227 shares of the pharmaceutical company's stock worth $1,414,331,000 after acquiring an additional 1,226,527 shares during the period. Jennison Associates LLC grew its stake in shares of Vertex Pharmaceuticals by 21.5% in the second quarter. Jennison Associates LLC now owns 6,151,505 shares of the pharmaceutical company's stock worth $2,738,650,000 after acquiring an additional 1,089,063 shares during the period. Finally, Nuveen LLC purchased a new position in shares of Vertex Pharmaceuticals during the first quarter valued at approximately $484,053,000. 90.96% of the stock is owned by institutional investors.
About Vertex Pharmaceuticals
(
Get Free Report)
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.
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