Key Points
- Vertex Pharmaceuticals CMO Carmen Bozic sold 6,988 shares on May 12 at an average price of $450 each, totaling about $3.14 million. After the sale, she still held 26,088 shares, and the transaction was made under a pre-arranged Rule 10b5-1 plan.
- The company recently beat earnings expectations, reporting $4.47 per share versus the $4.24 consensus estimate, while revenue came in at $2.99 billion and rose 8.3% year over year.
- Wall Street remains broadly positive on VRTX, with a consensus rating of “Moderate Buy” and an average price target of $555.17. Several analysts have assigned bullish ratings and raised targets, despite the insider sale.
Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Get Free Report) CMO Carmen Bozic sold 6,988 shares of Vertex Pharmaceuticals stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $450.00, for a total value of $3,144,600.00. Following the completion of the transaction, the chief marketing officer owned 26,088 shares in the company, valued at $11,739,600. This represents a 21.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Carmen Bozic also recently made the following trade(s):
- On Friday, March 13th, Carmen Bozic sold 2,329 shares of Vertex Pharmaceuticals stock. The shares were sold at an average price of $481.79, for a total value of $1,122,088.91.
Vertex Pharmaceuticals Price Performance
Shares of VRTX stock opened at $450.41 on Friday. Vertex Pharmaceuticals Incorporated has a 1-year low of $362.50 and a 1-year high of $507.92. The stock's fifty day moving average price is $446.38 and its 200 day moving average price is $450.49. The company has a market cap of $114.31 billion, a price-to-earnings ratio of 26.71, a price-to-earnings-growth ratio of 1.94 and a beta of 0.30.
Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last announced its earnings results on Monday, May 4th. The pharmaceutical company reported $4.47 earnings per share for the quarter, topping the consensus estimate of $4.24 by $0.23. Vertex Pharmaceuticals had a return on equity of 23.86% and a net margin of 35.51%.The firm had revenue of $2.99 billion for the quarter, compared to the consensus estimate of $2.99 billion. During the same period in the previous year, the business earned $4.06 EPS. The firm's revenue for the quarter was up 8.3% on a year-over-year basis. As a group, equities research analysts anticipate that Vertex Pharmaceuticals Incorporated will post 16.96 earnings per share for the current year.
Institutional Trading of Vertex Pharmaceuticals
A number of institutional investors and hedge funds have recently added to or reduced their stakes in VRTX. Norges Bank acquired a new stake in Vertex Pharmaceuticals during the 4th quarter worth about $1,440,149,000. Capital International Investors lifted its position in Vertex Pharmaceuticals by 77.9% during the 3rd quarter. Capital International Investors now owns 4,689,059 shares of the pharmaceutical company's stock worth $1,836,550,000 after acquiring an additional 2,053,156 shares during the period. Victory Capital Management Inc. lifted its position in Vertex Pharmaceuticals by 49.4% during the 4th quarter. Victory Capital Management Inc. now owns 3,356,766 shares of the pharmaceutical company's stock worth $1,521,851,000 after acquiring an additional 1,109,200 shares during the period. Capital Research Global Investors lifted its position in Vertex Pharmaceuticals by 4.6% during the 4th quarter. Capital Research Global Investors now owns 17,316,344 shares of the pharmaceutical company's stock worth $7,850,544,000 after acquiring an additional 763,063 shares during the period. Finally, Life Cycle Investment Partners Ltd acquired a new stake in Vertex Pharmaceuticals during the 4th quarter worth about $166,317,000. Institutional investors and hedge funds own 90.96% of the company's stock.
Wall Street Analyst Weigh In
Several research analysts recently weighed in on the company. Evercore boosted their target price on Vertex Pharmaceuticals from $475.00 to $530.00 and gave the stock an "outperform" rating in a research note on Friday, January 23rd. Oppenheimer boosted their target price on Vertex Pharmaceuticals from $540.00 to $600.00 and gave the stock an "outperform" rating in a research note on Tuesday, March 10th. Maxim Group upgraded Vertex Pharmaceuticals from a "hold" rating to a "buy" rating and set a $575.00 target price on the stock in a research note on Wednesday, March 18th. Cantor Fitzgerald restated an "overweight" rating and set a $590.00 target price on shares of Vertex Pharmaceuticals in a research note on Friday, February 13th. Finally, Sanford C. Bernstein dropped their target price on Vertex Pharmaceuticals from $577.00 to $572.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 5th. One research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $555.17.
Read Our Latest Report on Vertex Pharmaceuticals
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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