Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Get Free Report) CMO Carmen Bozic sold 2,329 shares of the firm's stock in a transaction that occurred on Friday, March 13th. The shares were sold at an average price of $481.79, for a total value of $1,122,088.91. Following the transaction, the chief marketing officer directly owned 35,405 shares of the company's stock, valued at approximately $17,057,774.95. This trade represents a 6.17% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Vertex Pharmaceuticals Trading Down 0.8%
Vertex Pharmaceuticals stock opened at $462.49 on Wednesday. Vertex Pharmaceuticals Incorporated has a 12 month low of $362.50 and a 12 month high of $516.50. The company has a market capitalization of $117.49 billion, a price-to-earnings ratio of 30.17, a price-to-earnings-growth ratio of 1.99 and a beta of 0.31. The business's fifty day simple moving average is $470.25 and its two-hundred day simple moving average is $439.49.
Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last issued its quarterly earnings results on Thursday, February 12th. The pharmaceutical company reported $5.03 earnings per share for the quarter, missing the consensus estimate of $5.05 by ($0.02). The company had revenue of $3.19 billion for the quarter, compared to the consensus estimate of $3.18 billion. Vertex Pharmaceuticals had a net margin of 32.94% and a return on equity of 24.30%. Vertex Pharmaceuticals's revenue was up 9.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.98 earnings per share. On average, equities research analysts predict that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current year.
Institutional Trading of Vertex Pharmaceuticals
A number of hedge funds have recently bought and sold shares of the company. Earned Wealth Advisors LLC lifted its holdings in Vertex Pharmaceuticals by 3.3% in the fourth quarter. Earned Wealth Advisors LLC now owns 650 shares of the pharmaceutical company's stock valued at $295,000 after acquiring an additional 21 shares during the period. Confluence Wealth Services Inc. grew its stake in shares of Vertex Pharmaceuticals by 4.0% during the 4th quarter. Confluence Wealth Services Inc. now owns 545 shares of the pharmaceutical company's stock valued at $247,000 after purchasing an additional 21 shares during the period. Williams Jones Wealth Management LLC. increased its position in shares of Vertex Pharmaceuticals by 1.9% during the 4th quarter. Williams Jones Wealth Management LLC. now owns 1,155 shares of the pharmaceutical company's stock valued at $524,000 after purchasing an additional 21 shares during the last quarter. Childress Capital Advisors LLC increased its position in shares of Vertex Pharmaceuticals by 3.1% during the 4th quarter. Childress Capital Advisors LLC now owns 730 shares of the pharmaceutical company's stock valued at $331,000 after purchasing an additional 22 shares during the last quarter. Finally, Central Pacific Bank Trust Division lifted its stake in shares of 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 purchasing an additional 24 shares during the period. Hedge funds and other institutional investors own 90.96% of the company's stock.
Analyst Upgrades and Downgrades
Several research analysts have issued reports on VRTX shares. Stifel Nicolaus lifted their target price on shares of Vertex Pharmaceuticals from $445.00 to $466.00 and gave the stock a "hold" rating in a report on Friday, February 13th. Evercore increased their price target on shares of Vertex Pharmaceuticals from $475.00 to $530.00 and gave the company an "outperform" rating in a report on Friday, January 23rd. UBS Group raised their price target on shares of Vertex Pharmaceuticals from $535.00 to $545.00 and gave the company a "buy" rating in a research report on Monday, January 26th. Oppenheimer boosted their price objective on shares of Vertex Pharmaceuticals from $540.00 to $600.00 and gave the stock an "outperform" rating in a report on Tuesday, March 10th. Finally, Wolfe Research raised Vertex Pharmaceuticals from a "peer perform" rating to an "outperform" rating and set a $548.00 price objective on the stock in a research report on Tuesday, January 6th. Twenty-three equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, Vertex Pharmaceuticals presently has an average rating of "Moderate Buy" and a consensus target price of $553.36.
Read Our Latest Analysis on VRTX
About Vertex Pharmaceuticals
(
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.
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