Key Points
- Vertex Pharmaceuticals CMO Carmen Bozic sold 4,062 shares on June 15 at an average price of $450, for proceeds of about $1.83 million. The sale, disclosed in an SEC filing, was made under a pre-arranged Rule 10b5-1 trading plan.
- After the transaction, Bozic still held 16,953 shares valued at about $7.63 million, a 19.33% reduction in her position. The article also notes she sold additional shares earlier in June and May.
- Vertex shares were trading up 1.3% at $458.99, and the company recently beat quarterly EPS estimates with $4.47 per share on $2.99 billion in revenue. Analysts remain broadly positive, with a consensus Moderate Buy rating and a target price of $555.91.
Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Get Free Report) CMO Carmen Bozic sold 4,062 shares of the company's stock in a transaction on Monday, June 15th. The shares were sold at an average price of $450.00, for a total value of $1,827,900.00. Following the transaction, the chief marketing officer directly owned 16,953 shares in the company, valued at $7,628,850. This trade represents a 19.33% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through 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 Friday, June 5th, Carmen Bozic sold 1,745 shares of Vertex Pharmaceuticals stock. The stock was sold at an average price of $450.00, for a total value of $785,250.00.
- 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.
Vertex Pharmaceuticals Trading Up 1.3%
Vertex Pharmaceuticals stock opened at $458.99 on Thursday. The company has a market cap of $116.49 billion, a PE ratio of 27.22, a PEG ratio of 1.94 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 company's 50-day moving average is $438.16 and its two-hundred day moving average is $453.01.
Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last issued its quarterly earnings results on Monday, May 4th. The pharmaceutical company reported $4.47 EPS for the quarter, topping the consensus estimate 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 net margin of 35.51% and a return on equity of 23.86%. Vertex Pharmaceuticals's revenue was up 8.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $4.06 EPS. Research analysts forecast that Vertex Pharmaceuticals Incorporated will post 17.02 EPS for the current year.
Institutional Trading of Vertex Pharmaceuticals
A number of large investors have recently made changes to their positions in VRTX. Brighton Jones LLC grew its stake in Vertex Pharmaceuticals by 15.0% in 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 bought a new stake in shares of Vertex Pharmaceuticals in the second quarter worth about $228,000. NewEdge Advisors LLC raised 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 worth $5,311,000 after purchasing an additional 986 shares during the period. ICW Investment Advisors LLC lifted its holdings in shares of Vertex Pharmaceuticals by 5.0% during the 2nd 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 lifted its holdings in shares of Vertex Pharmaceuticals by 26.3% during the 2nd 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. Institutional investors own 90.96% of the company's stock.
Analyst Upgrades and Downgrades
Several analysts have commented on VRTX shares. Oppenheimer upped their target price on shares of Vertex Pharmaceuticals from $540.00 to $600.00 and gave the company an "outperform" rating in a research report on Tuesday, March 10th. Weiss Ratings raised Vertex Pharmaceuticals from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Monday, May 18th. Barclays upped their price objective on Vertex Pharmaceuticals from $607.00 to $615.00 and gave the company an "overweight" rating in a report on Wednesday, May 6th. 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. Finally, Bank of America boosted their target price on Vertex Pharmaceuticals from $571.00 to $598.00 and gave the stock a "buy" rating in a research report on Tuesday, March 10th. Twenty-two research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat.com, Vertex Pharmaceuticals presently has a consensus rating of "Moderate Buy" and a consensus target price of $555.91.
Read Our Latest Analysis on VRTX
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
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
