Traders Sell Vertex Pharmaceuticals Inc. (VRTX) on Strength Following Insider Selling
Traders sold shares of Vertex Pharmaceuticals Inc. (NASDAQ:VRTX) on strength during trading on Monday after an insider sold shares in the company. $34.96 million flowed into the stock on the tick-up and $46.17 million flowed out of the stock on the tick-down, for a money net flow of $11.21 million out of the stock. Of all equities tracked, Vertex Pharmaceuticals had the 22nd highest net out-flow for the day. Vertex Pharmaceuticals traded up $1.27 for the day and closed at $80.50Specifically, EVP Stuart A. Arbuckle sold 1,208 shares of the stock in a transaction on Monday, October 3rd. The stock was sold at an average price of $86.46, for a total transaction of $104,443.68. Following the transaction, the executive vice president now owns 114,566 shares in the company, valued at approximately $9,905,376.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Joshua S. Boger sold 6,500 shares of the stock in a transaction on Wednesday, July 27th. The stock was sold at an average price of $95.93, for a total value of $623,545.00. Following the transaction, the director now owns 274,725 shares in the company, valued at approximately $26,354,369.25. The disclosure for this sale can be found here. 1.90% of the stock is owned by corporate insiders.
VRTX has been the topic of several recent research reports. Zacks Investment Research cut Vertex Pharmaceuticals from a “hold” rating to a “strong sell” rating in a research report on Tuesday, September 27th. Jefferies Group reissued a “buy” rating and set a $107.00 target price (up from $102.00) on shares of Vertex Pharmaceuticals in a report on Sunday, July 31st. Citigroup Inc. assumed coverage on Vertex Pharmaceuticals in a report on Tuesday, September 13th. They set a “market perform” rating on the stock. They noted that the move was a valuation call. Leerink Swann reissued an “outperform” rating and set a $113.00 target price on shares of Vertex Pharmaceuticals in a report on Thursday, September 15th. Finally, Vetr raised Vertex Pharmaceuticals from a “buy” rating to a “strong-buy” rating and set a $94.50 target price on the stock in a report on Monday, June 27th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $117.60.
The company’s market cap is $19.95 billion. The stock’s 50-day moving average is $90.31 and its 200 day moving average is $89.75.
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Vertex Pharmaceuticals (NASDAQ:VRTX) last released its quarterly earnings data on Wednesday, July 27th. The pharmaceutical company reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.03. Vertex Pharmaceuticals had a negative return on equity of 12.34% and a negative net margin of 17.77%. The business earned $431.61 million during the quarter, compared to analysts’ expectations of $428.08 million. During the same quarter last year, the business posted ($0.54) EPS. The business’s revenue was up 159.9% on a year-over-year basis. Equities analysts forecast that Vertex Pharmaceuticals Inc. will post $0.89 EPS for the current year.
A number of large investors have recently added to or reduced their stakes in the company. Citizens Financial Group Inc RI boosted its stake in Vertex Pharmaceuticals by 27.0% in the second quarter. Citizens Financial Group Inc RI now owns 1,189 shares of the pharmaceutical company’s stock valued at $102,000 after buying an additional 253 shares during the period. Mycio Wealth Partners LLC raised its position in shares of Vertex Pharmaceuticals by 1.5% in the second quarter. Mycio Wealth Partners LLC now owns 1,218 shares of the pharmaceutical company’s stock valued at $105,000 after buying an additional 18 shares in the last quarter. Paradigm Asset Management Co. LLC raised its position in shares of Vertex Pharmaceuticals by 20.7% in the second quarter. Paradigm Asset Management Co. LLC now owns 1,450 shares of the pharmaceutical company’s stock valued at $125,000 after buying an additional 249 shares in the last quarter. Checchi Capital Advisers LLC raised its position in shares of Vertex Pharmaceuticals by 4.3% in the second quarter. Checchi Capital Advisers LLC now owns 1,763 shares of the pharmaceutical company’s stock valued at $152,000 after buying an additional 73 shares in the last quarter. Finally, BlueMountain Capital Management LLC raised its position in shares of Vertex Pharmaceuticals by 69.3% in the first quarter. BlueMountain Capital Management LLC now owns 1,867 shares of the pharmaceutical company’s stock valued at $148,000 after buying an additional 764 shares in the last quarter. Institutional investors and hedge funds own 96.17% of the company’s stock.
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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