Insider Selling: Vertex Pharmaceuticals EVP Unloads 30,134 Shares of Stock (VRTX)
Vertex Pharmaceuticals (NASDAQ:VRTX) EVP Kenneth L. Horton sold 30,134 shares of the stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $95.22, for a total transaction of $2,869,359.48. Following the completion of the sale, the executive vice president now directly owns 32,463 shares in the company, valued at approximately $3,091,127. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Several analysts have recently commented on the stock. Analysts at Goldman Sachs raised their price target on shares of Vertex Pharmaceuticals to $109.00 in a research note on Wednesday, June 25th. Separately, analysts at Citigroup Inc. reiterated a “buy” rating on shares of Vertex Pharmaceuticals in a research note on Wednesday, June 25th. 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, June 25th. One analyst has rated the stock with a sell rating, six have given a hold rating and eight have given a buy rating to the stock. Vertex Pharmaceuticals presently has an average rating of “Hold” and an average price target of $100.41.
Shares of Vertex Pharmaceuticals (NASDAQ:VRTX) traded up 0.79% on Thursday, hitting $98.80. 1,300,894 shares of the company’s stock traded hands. Vertex Pharmaceuticals has a 52-week low of $58.06 and a 52-week high of $98.80. The stock’s 50-day moving average is $74.57 and its 200-day moving average is $74.64. The company’s market cap is $23.336 billion.
Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its earnings results on Thursday, May 1st. The company reported ($0.65) EPS for the quarter, beating the Thomson Reuters 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 in the prior year, the company posted $0.03 earnings per share. The company’s quarterly revenue was down 63.9% on a year-over-year basis. On average, analysts predict that Vertex Pharmaceuticals will post $-2.88 earnings per share for the current fiscal year.
Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) is in the business of discovering, developing, manufacturing and commercializing small molecule drugs for the treatment of serious diseases.