Insider Selling: Vertex Pharmaceuticals Inc. (VRTX) Director Sells 6,500 Shares of Stock
Vertex Pharmaceuticals Inc. (NASDAQ:VRTX) Director Joshua S. Boger sold 6,500 shares of the stock in a transaction on Wednesday, October 5th. The shares were sold at an average price of $87.44, for a total value of $568,360.00. Following the transaction, the director now directly owns 274,725 shares in the company, valued at $24,021,954. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.
Vertex Pharmaceuticals Inc. (NASDAQ:VRTX) opened at 85.70 on Friday. Vertex Pharmaceuticals Inc. has a 12 month low of $75.90 and a 12 month high of $134.71. The stock’s market cap is $21.23 billion. The stock’s 50 day moving average price is $92.75 and its 200-day moving average price is $89.81.
Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings data on Wednesday, July 27th. The pharmaceutical company reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.21 by $0.03. The firm had revenue of $431.61 million for the quarter, compared to analyst estimates of $428.08 million. Vertex Pharmaceuticals had a negative net margin of 17.77% and a negative return on equity of 12.34%. The business’s quarterly revenue was up 159.9% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.54) earnings per share. Equities analysts expect that Vertex Pharmaceuticals Inc. will post $0.89 EPS for the current year.
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Several equities analysts have recently weighed in on VRTX shares. Vetr raised Vertex Pharmaceuticals from a “hold” rating to a “buy” rating and set a $94.38 price target on the stock in a report on Monday, June 13th. Credit Suisse Group AG reissued a “buy” rating on shares of Vertex Pharmaceuticals in a report on Thursday, June 16th. Jefferies Group reaffirmed a “buy” rating and issued a $103.00 target price on shares of Vertex Pharmaceuticals in a report on Friday, June 17th. Piper Jaffray Cos. reaffirmed a “buy” rating on shares of Vertex Pharmaceuticals in a report on Saturday, June 18th. Finally, Zacks Investment Research raised Vertex Pharmaceuticals from a “strong sell” rating to a “hold” rating in a report on Wednesday, June 29th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $117.60.
Several large investors have recently made changes to their positions in the stock. Foundry Partners LLC increased its position in Vertex Pharmaceuticals by 36.4% in the third quarter. Foundry Partners LLC now owns 10,261 shares of the pharmaceutical company’s stock worth $895,000 after buying an additional 2,736 shares in the last quarter. Kentucky Retirement Systems Insurance Trust Fund acquired a new position in Vertex Pharmaceuticals during the second quarter worth about $859,000. Kentucky Retirement Systems acquired a new position in Vertex Pharmaceuticals during the second quarter worth about $1,809,000. Northwestern Mutual Investment Management Company LLC increased its position in Vertex Pharmaceuticals by 0.3% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 9,435 shares of the pharmaceutical company’s stock worth $812,000 after buying an additional 28 shares in the last quarter. Finally, Mason Street Advisors LLC acquired a new position in Vertex Pharmaceuticals during the second quarter worth about $2,866,000. 96.19% of the stock is currently owned by hedge funds and other institutional investors.
Vertex Pharmaceuticals Company Profile
Vertex Pharmaceuticals Incorporated is engaged in the business of discovering, developing, manufacturing and commercializing medicines for serious diseases. The Company operates in pharmaceuticals segment. Its business is focused on developing and commercializing therapies for the treatment of cystic fibrosis (CF) and advancing its research and development programs in other indications.
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