Key Points
- Vertex Pharmaceuticals CMO Carmen Bozic sold 596 shares on June 26 at an average price of $482.50, totaling about $287,570. The sale reduced her ownership by 3.74% and was made under a pre-arranged Rule 10b5-1 plan.
- Bozic has been actively selling Vertex stock recently, including multiple transactions in June and May. Recent sales ranged from 1,020 shares to 6,988 shares, with proceeds totaling millions of dollars.
- Vertex reported stronger-than-expected quarterly results, posting EPS of $4.47 versus estimates of $4.24 while revenue reached $2.99 billion, up 8.3% year over year. Analysts remain broadly positive, with a consensus rating of Moderate Buy and an average price target of $555.91.
Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Get Free Report) CMO Carmen Bozic sold 596 shares of the company's stock in a transaction on Friday, June 26th. The shares were sold at an average price of $482.50, for a total value of $287,570.00. Following the sale, the chief marketing officer owned 15,337 shares of the company's stock, valued at approximately $7,400,102.50. The trade was a 3.74% 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.
Carmen Bozic also recently made the following trade(s):
- On Thursday, June 18th, Carmen Bozic sold 1,020 shares of Vertex Pharmaceuticals stock. The stock was sold at an average price of $462.17, for a total transaction of $471,413.40.
- On Monday, June 15th, Carmen Bozic sold 4,062 shares of Vertex Pharmaceuticals stock. The stock was sold at an average price of $450.00, for a total transaction of $1,827,900.00.
- On Friday, June 5th, Carmen Bozic sold 1,745 shares of Vertex Pharmaceuticals stock. The shares were 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 stock was sold at an average price of $450.00, for a total value of $3,144,600.00.
Vertex Pharmaceuticals Stock Down 0.6%
Vertex Pharmaceuticals stock opened at $496.73 on Wednesday. The stock has a market cap of $126.07 billion, a PE ratio of 29.46, a P/E/G ratio of 2.14 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. The business's 50-day moving average price is $444.56 and its two-hundred day moving average price is $455.05.
Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last posted its quarterly earnings results on Monday, May 4th. The pharmaceutical company reported $4.47 earnings per share for the quarter, beating analysts' consensus estimates of $4.24 by $0.23. The company had revenue of $2.99 billion for the quarter, compared to the consensus estimate of $2.99 billion. Vertex Pharmaceuticals had a net margin of 35.51% and a return on equity of 23.86%. The firm's quarterly revenue was up 8.3% compared to the same quarter last year. During the same period last year, the company posted $4.06 EPS. As a group, analysts expect that Vertex Pharmaceuticals Incorporated will post 17.02 earnings per share for the current year.
Institutional Investors Weigh In On Vertex Pharmaceuticals
A number of institutional investors have recently modified their holdings of VRTX. Motiv8 Investments LLC acquired a new stake in shares of Vertex Pharmaceuticals during the fourth quarter worth $26,000. Swiss RE Ltd. acquired a new position in Vertex Pharmaceuticals in the fourth quarter valued at $28,000. Eagle Bay Advisors LLC bought a new stake in Vertex Pharmaceuticals during the fourth quarter valued at $29,000. IMG Wealth Management Inc. grew its holdings in Vertex Pharmaceuticals by 277.8% during the 4th quarter. IMG Wealth Management Inc. now owns 68 shares of the pharmaceutical company's stock worth $31,000 after acquiring an additional 50 shares during the period. Finally, Ares Financial Consulting LLC acquired a new stake in Vertex Pharmaceuticals during the 4th quarter worth about $33,000. 90.96% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
VRTX has been the subject of a number of recent research reports. Jefferies Financial Group began coverage on Vertex Pharmaceuticals in a report on Tuesday, March 10th. They issued a "buy" rating and a $580.00 target price for the company. Maxim Group upgraded Vertex Pharmaceuticals from a "hold" rating to a "buy" rating and set a $575.00 price target on the stock in a report on Wednesday, March 18th. HC Wainwright upped their price objective on Vertex Pharmaceuticals from $591.00 to $641.00 and gave the company a "buy" rating in a research note on Tuesday, March 10th. Citigroup lifted their target price on shares of Vertex Pharmaceuticals from $575.00 to $585.00 and gave the stock a "buy" rating in a research report on Tuesday, March 10th. Finally, Weiss Ratings raised shares of Vertex Pharmaceuticals from a "hold (c+)" rating to a "buy (b-)" rating in a report on Monday, May 18th. 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 data from MarketBeat.com, Vertex Pharmaceuticals has an average rating of "Moderate Buy" and a consensus price target of $555.91.
Get Our Latest Research Report on VRTX
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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