Key Points
- Vertex Pharmaceuticals CMO Carmen Bozic sold 1,745 shares on June 5 at $450 each, for proceeds of $785,250. The sale reduced her ownership by 7.67%, and it was made under a pre-arranged Rule 10b5-1 plan.
- Vertex recently beat earnings expectations, reporting Q1 EPS of $4.47 versus the $4.24 consensus, while revenue came in at $2.99 billion, up 8.3% year over year.
- Analyst sentiment remains constructive overall, with 22 Buy ratings and 3 Hold ratings; the consensus target price is $555.91, though recent opinions have been mixed with some target cuts and a downgrade to Hold.
Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Get Free Report) CMO Carmen Bozic sold 1,745 shares of the firm's stock in a transaction on Friday, June 5th. The stock was sold at an average price of $450.00, for a total value of $785,250.00. Following the completion of the transaction, the chief marketing officer owned 21,015 shares in the company, valued at approximately $9,456,750. This trade represents a 7.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Carmen Bozic also recently made the following trade(s):
- On Tuesday, May 12th, Carmen Bozic sold 6,988 shares of Vertex Pharmaceuticals stock. The stock was sold at an average price of $450.00, for a total value of $3,144,600.00.
- On Friday, March 13th, Carmen Bozic sold 2,329 shares of Vertex Pharmaceuticals stock. The stock was sold at an average price of $481.79, for a total value of $1,122,088.91.
Vertex Pharmaceuticals Price Performance
VRTX stock opened at $445.77 on Wednesday. The company has a market cap of $113.14 billion, a P/E ratio of 26.44, a price-to-earnings-growth ratio of 1.89 and a beta of 0.30. 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 $437.37 and its 200-day moving average price is $452.16.
Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last released its quarterly earnings results on Monday, May 4th. The pharmaceutical company reported $4.47 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 last year, the business posted $4.06 EPS. The company's revenue for the quarter was up 8.3% on a year-over-year basis. As a group, analysts expect that Vertex Pharmaceuticals Incorporated will post 17.02 earnings per share for the current year.
Analysts Set New Price Targets
A number of equities analysts recently commented on the company. Stifel Nicolaus raised their target price on Vertex Pharmaceuticals from $445.00 to $466.00 and gave the stock a "hold" rating in a report on Friday, February 13th. Truist Financial assumed coverage on Vertex Pharmaceuticals in a report on Wednesday, May 27th. They issued a "buy" rating and a $542.00 target price on the stock. Morgan Stanley raised their target price on Vertex Pharmaceuticals from $612.00 to $616.00 and gave the stock an "overweight" rating in a report on Tuesday, May 5th. Wall Street Zen cut Vertex Pharmaceuticals from a "buy" rating to a "hold" rating in a report on Saturday, May 30th. Finally, Canaccord Genuity Group decreased their target price on Vertex Pharmaceuticals from $437.00 to $436.00 and set a "hold" rating on the stock in a report on Tuesday, May 5th. Twenty-two equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $555.91.
View Our Latest Report on Vertex Pharmaceuticals
Institutional Investors Weigh In On Vertex Pharmaceuticals
A number of institutional investors and hedge funds have recently bought and sold shares of VRTX. Brighton Jones LLC raised its holdings in Vertex Pharmaceuticals by 15.0% during the fourth quarter. Brighton Jones LLC now owns 4,427 shares of the pharmaceutical company's stock valued at $1,783,000 after acquiring an additional 579 shares during the period. Gamco Investors INC. ET AL purchased a new position in shares of Vertex Pharmaceuticals during the second quarter valued at about $228,000. NewEdge Advisors LLC grew its position in shares of Vertex Pharmaceuticals by 9.0% during the second quarter. NewEdge Advisors LLC now owns 11,929 shares of the pharmaceutical company's stock valued at $5,311,000 after purchasing an additional 986 shares in the last quarter. ICW Investment Advisors LLC grew its position in shares of Vertex Pharmaceuticals by 5.0% during the second quarter. ICW Investment Advisors LLC now owns 604 shares of the pharmaceutical company's stock valued at $269,000 after purchasing an additional 29 shares in the last quarter. Finally, Diversify Advisory Services LLC grew its position in shares of Vertex Pharmaceuticals by 26.3% during the second quarter. Diversify Advisory Services LLC now owns 7,291 shares of the pharmaceutical company's stock valued at $3,246,000 after purchasing an additional 1,518 shares in the last quarter. 90.96% of the stock is owned by institutional investors.
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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