Insider Selling: Vertex Pharmaceuticals Incorporated (VRTX) SVP Sells 2,577 Shares of Stock
Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) SVP Paul M. Silva sold 2,577 shares of the stock in a transaction that occurred on Wednesday, June 21st. The shares were sold at an average price of $133.36, for a total transaction of $343,668.72. Following the sale, the senior vice president now directly owns 22,648 shares of the company’s stock, valued at approximately $3,020,337.28. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.
Shares of Vertex Pharmaceuticals Incorporated (VRTX) traded down 1.50% during trading on Friday, reaching $133.50. The company’s stock had a trading volume of 2,172,643 shares. The stock’s 50 day moving average is $120.67 and its 200 day moving average is $98.72. Vertex Pharmaceuticals Incorporated has a one year low of $71.46 and a one year high of $137.00. The firm has a market cap of $33.25 billion, a P/E ratio of 186.19 and a beta of 1.65.
Vertex Pharmaceuticals (NASDAQ:VRTX) last released its earnings results on Thursday, April 27th. The pharmaceutical company reported $0.13 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.04 by $0.09. Vertex Pharmaceuticals had a return on equity of 3.00% and a net margin of 8.64%. The business had revenue of $714.72 million for the quarter, compared to the consensus estimate of $692.64 million. During the same period in the previous year, the company posted $0.09 earnings per share. The company’s revenue for the quarter was up 79.5% compared to the same quarter last year. On average, equities analysts forecast that Vertex Pharmaceuticals Incorporated will post $1.66 EPS for the current fiscal year.
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A number of large investors have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. bought a new stake in Vertex Pharmaceuticals during the fourth quarter valued at approximately $5,463,000. Dimensional Fund Advisors LP increased its stake in Vertex Pharmaceuticals by 3.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 267,437 shares of the pharmaceutical company’s stock valued at $19,703,000 after buying an additional 8,524 shares during the period. Federated Investors Inc. PA increased its stake in Vertex Pharmaceuticals by 3.6% in the fourth quarter. Federated Investors Inc. PA now owns 108,352 shares of the pharmaceutical company’s stock valued at $7,982,000 after buying an additional 3,800 shares during the period. Pinnacle Associates Ltd. increased its stake in Vertex Pharmaceuticals by 12.1% in the fourth quarter. Pinnacle Associates Ltd. now owns 3,700 shares of the pharmaceutical company’s stock valued at $273,000 after buying an additional 400 shares during the period. Finally, Keybank National Association OH increased its stake in Vertex Pharmaceuticals by 43.4% in the fourth quarter. Keybank National Association OH now owns 4,565 shares of the pharmaceutical company’s stock valued at $336,000 after buying an additional 1,382 shares during the period. 94.18% of the stock is currently owned by institutional investors and hedge funds.
A number of research firms have weighed in on VRTX. Zacks Investment Research raised shares of Vertex Pharmaceuticals from a “strong sell” rating to a “buy” rating and set a $102.00 target price for the company in a research report on Tuesday, March 28th. Oppenheimer Holdings, Inc. restated a “hold” rating on shares of Vertex Pharmaceuticals in a report on Sunday, April 30th. Vetr upgraded Vertex Pharmaceuticals from a “strong sell” rating to a “sell” rating and set a $102.09 price target on the stock in a report on Monday, May 15th. Cowen and Company restated a “market perform” rating and set a $75.00 price target on shares of Vertex Pharmaceuticals in a report on Thursday, March 30th. Finally, Needham & Company LLC restated a “hold” rating on shares of Vertex Pharmaceuticals in a report on Friday, April 28th. Eight research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $118.75.
About Vertex Pharmaceuticals
Vertex Pharmaceuticals Incorporated is engaged in discovering, developing, manufacturing and commercializing medicines for serious diseases. The Company 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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