Key Points
- Charles Wagner, Jr., EVP of Vertex, sold 9,532 shares on January 6 at an average price of $461 for proceeds of $4,394,252, reducing his ownership by 20.17% to 37,725 shares (SEC filing).
- Vertex reported quarterly EPS of $4.80 (beats by $0.22) and revenue of $3.08 billion (up 11% YoY); the stock trades near $469.68 with a $119.17 billion market cap, and analysts have a consensus "Moderate Buy" with a $503.80 target amid several raised price targets (e.g., Morgan Stanley $564, Leerink $525, Wells Fargo $515).
Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Get Free Report) EVP Charles Wagner, Jr. sold 9,532 shares of the business's stock in a transaction on Tuesday, January 6th. The shares were sold at an average price of $461.00, for a total transaction of $4,394,252.00. Following the sale, the executive vice president directly owned 37,725 shares in the company, valued at $17,391,225. This trade represents a 20.17% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.
Vertex Pharmaceuticals Price Performance
Shares of VRTX stock opened at $469.68 on Friday. The business has a fifty day moving average of $442.73 and a 200 day moving average of $427.19. Vertex Pharmaceuticals Incorporated has a 1 year low of $362.50 and a 1 year high of $519.68. The firm has a market capitalization of $119.17 billion, a price-to-earnings ratio of 33.12 and a beta of 0.31.
Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last announced its quarterly earnings data on Monday, November 3rd. The pharmaceutical company reported $4.80 earnings per share for the quarter, beating analysts' consensus estimates of $4.58 by $0.22. Vertex Pharmaceuticals had a return on equity of 23.51% and a net margin of 31.35%.The business had revenue of $3.08 billion for the quarter, compared to analyst estimates of $3.05 billion. During the same period in the prior year, the company earned $4.38 earnings per share. The company's revenue was up 11.0% on a year-over-year basis. As a group, equities research analysts expect that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current year.
Analysts Set New Price Targets
Several analysts have commented on the stock. Morgan Stanley set a $564.00 price objective on shares of Vertex Pharmaceuticals in a research note on Friday, December 5th. Leerink Partners boosted their target price on shares of Vertex Pharmaceuticals from $456.00 to $525.00 and gave the company an "outperform" rating in a research report on Monday, December 29th. Wells Fargo & Company increased their price target on Vertex Pharmaceuticals from $460.00 to $515.00 and gave the stock an "overweight" rating in a research report on Wednesday, December 10th. Scotiabank started coverage on Vertex Pharmaceuticals in a research note on Thursday, November 13th. They set a "sector outperform" rating and a $495.00 price objective for the company. Finally, Weiss Ratings restated a "hold (c+)" rating on shares of Vertex Pharmaceuticals in a research note on Wednesday, October 8th. Two analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $503.80.
View Our Latest Stock Analysis on VRTX
Institutional Investors Weigh In On Vertex Pharmaceuticals
A number of institutional investors have recently modified their holdings of VRTX. Costello Asset Management INC raised its stake in shares of Vertex Pharmaceuticals by 3.6% during the 2nd quarter. Costello Asset Management INC now owns 689 shares of the pharmaceutical company's stock worth $307,000 after buying an additional 24 shares during the period. Kovack Advisors Inc. increased its holdings in Vertex Pharmaceuticals by 1.9% in the 2nd quarter. Kovack Advisors Inc. now owns 1,280 shares of the pharmaceutical company's stock worth $570,000 after acquiring an additional 24 shares in the last quarter. Central Pacific Bank Trust Division increased its holdings in Vertex Pharmaceuticals by 0.5% in the 4th quarter. Central Pacific Bank Trust Division now owns 5,026 shares of the pharmaceutical company's stock worth $2,279,000 after acquiring an additional 24 shares in the last quarter. Newman Dignan & Sheerar Inc. lifted its holdings in Vertex Pharmaceuticals by 3.3% during the second quarter. Newman Dignan & Sheerar Inc. now owns 786 shares of the pharmaceutical company's stock valued at $350,000 after purchasing an additional 25 shares in the last quarter. Finally, Eastern Bank lifted its holdings in Vertex Pharmaceuticals by 1.6% during the second quarter. Eastern Bank now owns 1,635 shares of the pharmaceutical company's stock valued at $728,000 after purchasing an additional 25 shares in the last quarter. 90.96% of the stock is currently owned by institutional investors and hedge funds.
Vertex Pharmaceuticals Company Profile
(
Get Free Report)
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.
Further Reading
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