Key Points
- Vertex CMO Carmen Bozic sold 1,020 shares on June 18 at an average price of $462.17, totaling about $471,413. The transaction was made under a pre-arranged Rule 10b5-1 plan, and her remaining stake was valued at about $7.36 million.
- Bozic has been selling shares repeatedly in recent weeks, including larger sales on June 15, June 5, and May 12. These trades totaled millions of dollars and reduced her position further.
- Vertex reported solid quarterly results, beating EPS expectations with $4.47 per share on revenue of $2.99 billion. The stock was also trading up slightly, while analysts remained broadly positive with a consensus Moderate Buy rating and target price of $555.91.
Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Get Free Report) CMO Carmen Bozic sold 1,020 shares of the business's stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $462.17, for a total value of $471,413.40. Following the transaction, the chief marketing officer owned 15,933 shares of the company's stock, valued at $7,363,754.61. This trade represents a 6.02% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Carmen Bozic also recently made the following trade(s):
- On Monday, June 15th, Carmen Bozic sold 4,062 shares of Vertex Pharmaceuticals stock. The shares were sold at an average price of $450.00, for a total value of $1,827,900.00.
- 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 transaction of $785,250.00.
- On Tuesday, May 12th, Carmen Bozic sold 6,988 shares of Vertex Pharmaceuticals stock. The shares were sold at an average price of $450.00, for a total transaction of $3,144,600.00.
Vertex Pharmaceuticals Trading Up 0.3%
Vertex Pharmaceuticals stock opened at $468.42 on Wednesday. Vertex Pharmaceuticals Incorporated has a 52 week low of $362.50 and a 52 week high of $507.92. The stock has a market cap of $118.89 billion, a price-to-earnings ratio of 27.78, a PEG ratio of 2.00 and a beta of 0.30. The company's 50-day moving average price is $439.76 and its two-hundred day moving average price is $453.60.
Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last issued its quarterly earnings results on Monday, May 4th. The pharmaceutical company reported $4.47 earnings per share 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 analyst estimates of $2.99 billion. Vertex Pharmaceuticals had a net margin of 35.51% and a return on equity of 23.86%. The business's revenue for the quarter was up 8.3% compared to the same quarter last year. During the same period in the prior year, the business posted $4.06 EPS. Research analysts expect that Vertex Pharmaceuticals Incorporated will post 17.02 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Vertex Pharmaceuticals
Several large investors have recently modified their holdings of VRTX. Capital Research Global Investors raised its position in shares of Vertex Pharmaceuticals by 4.6% during the fourth quarter. Capital Research Global Investors now owns 17,316,344 shares of the pharmaceutical company's stock worth $7,850,544,000 after purchasing an additional 763,063 shares during the period. State Street Corp boosted its position in shares of Vertex Pharmaceuticals by 0.7% in the 4th quarter. State Street Corp now owns 11,689,539 shares of the pharmaceutical company's stock valued at $5,299,569,000 after purchasing an additional 83,539 shares during the period. Capital International Investors boosted its position in shares of Vertex Pharmaceuticals by 0.9% in the 4th quarter. Capital International Investors now owns 4,733,596 shares of the pharmaceutical company's stock valued at $2,146,041,000 after purchasing an additional 44,537 shares during the period. Alliancebernstein L.P. increased its stake in Vertex Pharmaceuticals by 3.3% in the 3rd quarter. Alliancebernstein L.P. now owns 4,522,586 shares of the pharmaceutical company's stock worth $1,771,226,000 after purchasing an additional 144,266 shares in the last quarter. Finally, Victory Capital Management Inc. raised its holdings 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 buying an additional 1,109,200 shares during the period. 90.96% of the stock is owned by institutional investors.
Analysts Set New Price Targets
VRTX has been the subject of a number of research reports. Royal Bank Of Canada increased their price target on Vertex Pharmaceuticals from $541.00 to $543.00 and gave the company an "outperform" rating in a research note on Tuesday, May 5th. Morgan Stanley raised their target price on Vertex Pharmaceuticals from $612.00 to $616.00 and gave the company an "overweight" rating in a research note on Tuesday, May 5th. HC Wainwright lifted their target price on Vertex Pharmaceuticals from $591.00 to $641.00 and gave the stock a "buy" rating in a report on Tuesday, March 10th. Canaccord Genuity Group dropped their price target on shares of Vertex Pharmaceuticals from $437.00 to $436.00 and set a "hold" rating on the stock in a research report on Tuesday, May 5th. Finally, Citigroup upped their price target on shares of Vertex Pharmaceuticals from $575.00 to $585.00 and gave the company a "buy" rating in a report on Tuesday, March 10th. Twenty-two equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $555.91.
View Our Latest Report 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.
Featured Articles
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].
