Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Get Free Report) Director Sangeeta Bhatia sold 318 shares of the company's stock in a transaction on Monday, May 4th. The shares were sold at an average price of $423.73, for a total value of $134,746.14. Following the sale, the director owned 4,924 shares of the company's stock, valued at approximately $2,086,446.52. The trade was a 6.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Vertex Pharmaceuticals Stock Down 1.3%
VRTX stock opened at $424.36 on Wednesday. The company's 50-day moving average price is $452.77 and its two-hundred day moving average price is $449.59. The firm has a market cap of $107.94 billion, a P/E ratio of 25.17, a P/E/G ratio of 1.87 and a beta of 0.30. Vertex Pharmaceuticals Incorporated has a 12 month low of $362.50 and a 12 month high of $507.92.
Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last posted its quarterly earnings results on Monday, May 4th. The pharmaceutical company reported $4.47 EPS for the quarter, topping analysts' consensus estimates of $4.24 by $0.23. The company had revenue of $2.99 billion during the quarter, compared to analysts' expectations of $2.99 billion. Vertex Pharmaceuticals had a return on equity of 24.41% and a net margin of 35.51%.Vertex Pharmaceuticals's revenue was up 8.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $4.06 EPS. Equities analysts predict that Vertex Pharmaceuticals Incorporated will post 16.81 EPS for the current year.
Wall Street Analysts Forecast Growth
A number of brokerages have recently commented on VRTX. Wall Street Zen lowered shares of Vertex Pharmaceuticals from a "buy" rating to a "hold" rating in a report on Saturday. Maxim Group upgraded Vertex Pharmaceuticals from a "hold" rating to a "buy" rating and set a $575.00 price objective for the company in a report on Wednesday, March 18th. HC Wainwright raised their target price on Vertex Pharmaceuticals from $591.00 to $641.00 and gave the stock a "buy" rating in a research report on Tuesday, March 10th. Evercore lifted their target price on Vertex Pharmaceuticals from $475.00 to $530.00 and gave the stock an "outperform" rating in a report on Friday, January 23rd. Finally, Truist Financial raised Vertex Pharmaceuticals to a "strong-buy" rating in a research note on Monday, April 27th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $554.83.
Get Our Latest Report on Vertex Pharmaceuticals
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently bought and sold shares of the stock. SteelPeak Wealth LLC bought a new stake in Vertex Pharmaceuticals in the 1st quarter valued at about $269,000. Allspring Global Investments Holdings LLC raised its stake in Vertex Pharmaceuticals by 1.3% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 123,760 shares of the pharmaceutical company's stock worth $55,353,000 after buying an additional 1,550 shares during the period. Independent Financial Group LLC bought a new position in Vertex Pharmaceuticals in the first quarter worth approximately $412,000. Wealthfront Advisers LLC grew its stake in Vertex Pharmaceuticals by 7.5% in the first quarter. Wealthfront Advisers LLC now owns 46,395 shares of the pharmaceutical company's stock valued at $20,717,000 after acquiring an additional 3,226 shares during the period. Finally, Navigation Group LLC acquired a new stake in Vertex Pharmaceuticals in the first quarter valued at approximately $311,000. 90.96% of the stock is owned by institutional investors.
Key Vertex Pharmaceuticals News
Here are the key news stories impacting Vertex Pharmaceuticals this week:
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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