Key Points
- Vertex EVP Ourania Tatsis sold 1,500 shares on July 2 at an average price of $524.99, totaling about $787,485. After the sale, she still held 45,321 shares, and the trade was made under a pre-arranged Rule 10b5-1 plan.
- Vertex shares have been near highs, recently opening at $522.25 versus a 52-week range of $362.50 to $533.67. The company also trades with a market cap of about $132.55 billion and a beta of 0.29.
- Analysts remain constructive on Vertex despite a recent downgrade from one firm, with 21 Buy ratings and 4 Hold ratings overall. The consensus price target stands at $557.09, while recent commentary has focused on Vertex’s planned Crinetics acquisition and its potential to expand growth beyond cystic fibrosis.
Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Get Free Report) EVP Ourania Tatsis sold 1,500 shares of the stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $524.99, for a total transaction of $787,485.00. Following the completion of the sale, the executive vice president directly owned 45,321 shares in the company, valued at $23,793,071.79. This trade represents a 3.20% decrease in their ownership of the stock. The transaction 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.
Vertex Pharmaceuticals Price Performance
Shares of NASDAQ:VRTX opened at $522.25 on Wednesday. Vertex Pharmaceuticals Incorporated has a 1 year low of $362.50 and a 1 year high of $533.67. The business has a 50 day simple moving average of $453.10 and a two-hundred day simple moving average of $457.50. The firm has a market capitalization of $132.55 billion, a PE ratio of 30.98, a price-to-earnings-growth ratio of 2.27 and a beta of 0.29.
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 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 prior year, the business posted $4.06 earnings per share. The company's revenue for the quarter was up 8.3% on a year-over-year basis. Equities research analysts expect that Vertex Pharmaceuticals Incorporated will post 17.02 EPS for the current fiscal year.
Key Stories Impacting Vertex Pharmaceuticals
Here are the key news stories impacting Vertex Pharmaceuticals this week:
- Positive Sentiment: Vertex’s acquisition of Crinetics gives it an immediate entry into rare endocrine disease, broadens its pipeline, and could add meaningful long-term revenue growth. Vertex to Acquire Crinetics Pharmaceuticals
- Positive Sentiment: The deal includes an approved drug and a late-stage candidate, which should reduce development risk and strengthen Vertex’s growth story beyond its core cystic fibrosis franchise. Vertex’s Crinetics Deal Balances Growth with Integration Risk
- Neutral Sentiment: Several reports noted that Vertex shares pulled back modestly after the announcement, suggesting some investors may be weighing integration risk and the size of the cash outlay. M&A News: Vertex Stock Slips After Announcing $10B Crinetics Acquisition
- Neutral Sentiment: Two Vertex executives also disclosed pre-planned stock sales, but the trades were executed under Rule 10b5-1 plans, making them less likely to signal a change in fundamentals. SEC filing for Duncan Mckechnie
- Neutral Sentiment: Another executive sale was disclosed under a pre-arranged trading plan, which may add some headline noise but does not necessarily indicate insider concern. SEC filing for Ourania Tatsis
Institutional Investors Weigh In On Vertex Pharmaceuticals
Several large investors have recently modified their holdings of VRTX. Danske Bank A S purchased a new position in Vertex Pharmaceuticals in the third quarter valued at about $64,417,000. Nordea Investment Management AB lifted its position in shares of Vertex Pharmaceuticals by 23.8% during the fourth quarter. Nordea Investment Management AB now owns 447,169 shares of the pharmaceutical company's stock valued at $202,612,000 after buying an additional 86,084 shares during the last quarter. Cooper Financial Group lifted its position in shares of Vertex Pharmaceuticals by 130.2% during the fourth quarter. Cooper Financial Group now owns 5,341 shares of the pharmaceutical company's stock valued at $2,421,000 after buying an additional 3,021 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of Vertex Pharmaceuticals by 9.1% in the 4th quarter. Assenagon Asset Management S.A. now owns 832,853 shares of the pharmaceutical company's stock valued at $377,582,000 after buying an additional 69,150 shares in the last quarter. Finally, Swiss Life Asset Management Ltd boosted its holdings in shares of Vertex Pharmaceuticals by 10.4% in the 3rd quarter. Swiss Life Asset Management Ltd now owns 63,945 shares of the pharmaceutical company's stock valued at $25,043,000 after buying an additional 6,045 shares in the last quarter. Institutional investors own 90.96% of the company's stock.
Wall Street Analysts Forecast Growth
A number of brokerages have recently issued reports on VRTX. Barclays boosted their target price on shares of Vertex Pharmaceuticals from $607.00 to $615.00 and gave the company an "overweight" rating in a research note on Wednesday, May 6th. Morgan Stanley lifted their price objective on shares of Vertex Pharmaceuticals from $612.00 to $616.00 and gave the company an "overweight" rating in a report on Tuesday, May 5th. Wall Street Zen cut shares of Vertex Pharmaceuticals from a "buy" rating to a "hold" rating in a research report on Sunday, June 28th. HC Wainwright upped their target price on shares of Vertex Pharmaceuticals from $591.00 to $641.00 and gave the stock a "buy" rating in a research note on Tuesday, March 10th. Finally, Bank of America raised their target price on shares of Vertex Pharmaceuticals from $571.00 to $598.00 and gave the stock a "buy" rating in a research report on Tuesday, March 10th. Twenty-one analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $557.09.
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About Vertex Pharmaceuticals
(
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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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