Insider Selling: Megan E. Pace Sells 12,734 Shares of Vertex Pharmaceuticals Stock (VRTX)
Vertex Pharmaceuticals (NASDAQ:VRTX) SVP Megan E. Pace sold 12,734 shares of the stock in a transaction that occurred on Tuesday, June 24th. The stock was sold at an average price of $98.03, for a total value of $1,248,314.02. Following the completion of the transaction, the senior vice president now directly owns 23,350 shares of the company’s stock, valued at approximately $2,289,001. The transaction was disclosed in a filing with the SEC, which is available at this link.
Shares of Vertex Pharmaceuticals (NASDAQ:VRTX) traded up 3.68% during mid-day trading on Thursday, hitting $93.17. The stock had a trading volume of 5,511,777 shares. Vertex Pharmaceuticals has a one year low of $58.06 and a one year high of $98.80. The stock has a 50-day moving average of $70.60 and a 200-day moving average of $73.5. The company’s market cap is $22.006 billion. Vertex Pharmaceuticals also was the recipient of some unusual options trading on Monday. Stock traders purchased 13,082 call options on the stock. This is an increase of 235% compared to the typical daily volume of 3,903 call options.
Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its earnings results on Thursday, May 1st. The company reported ($0.65) earnings per share for the quarter, beating the analysts’ consensus estimate of ($0.68) by $0.03. The company had revenue of $118.50 million for the quarter, compared to the consensus estimate of $134.46 million. During the same quarter last year, the company posted $0.03 earnings per share. Vertex Pharmaceuticals’s revenue was down 63.9% compared to the same quarter last year. On average, analysts predict that Vertex Pharmaceuticals will post $-2.89 earnings per share for the current fiscal year.
VRTX has been the subject of a number of recent research reports. Analysts at Goldman Sachs raised their price target on shares of Vertex Pharmaceuticals to $109.00 in a research note on Wednesday. Separately, analysts at Citigroup Inc. reiterated a “buy” rating on shares of Vertex Pharmaceuticals in a research note on Wednesday. They now have a $136.00 price target on the stock, up previously from $103.00. Finally, analysts at Sanford C. Bernstein raised their price target on shares of Vertex Pharmaceuticals from $65.00 to $107.00 in a research note on Wednesday. One analyst has rated the stock with a sell rating, six have given a hold rating and eight have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $100.41.
Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) is in the business of discovering, developing, manufacturing and commercializing small molecule drugs for the treatment of serious diseases.
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