Insider Selling: Vertex Pharmaceuticals Incorporated (VRTX) EVP Sells 6,290 Shares of Stock
Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) EVP Stuart A. Arbuckle sold 6,290 shares of Vertex Pharmaceuticals stock in a transaction on Friday, October 27th. The stock was sold at an average price of $143.97, for a total transaction of $905,571.30. Following the transaction, the executive vice president now directly owns 116,952 shares of the company’s stock, valued at $16,837,579.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.
Vertex Pharmaceuticals Incorporated (VRTX) traded down 2.21% during mid-day trading on Tuesday, hitting $146.23. The stock had a trading volume of 2,457,065 shares. Vertex Pharmaceuticals Incorporated has a 52 week low of $71.46 and a 52 week high of $167.85. The company’s 50 day moving average price is $152.52 and its 200 day moving average price is $139.47. The firm has a market cap of $36.87 billion, a PE ratio of 140.47 and a beta of 1.73.
Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings data on Wednesday, October 25th. The pharmaceutical company reported $0.53 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.04 by $0.49. The company had revenue of $578.20 million for the quarter, compared to analysts’ expectations of $522.07 million. Vertex Pharmaceuticals had a return on equity of 9.23% and a net margin of 8.53%. Vertex Pharmaceuticals’s revenue for the quarter was up 39.7% compared to the same quarter last year. During the same period last year, the firm posted $0.16 EPS. Analysts anticipate that Vertex Pharmaceuticals Incorporated will post $1.76 earnings per share for the current year.
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A number of equities analysts have commented on VRTX shares. Stifel Nicolaus lifted their price objective on shares of Vertex Pharmaceuticals from $130.00 to $154.00 and gave the stock a “buy” rating in a research report on Tuesday, July 18th. Zacks Investment Research raised shares of Vertex Pharmaceuticals from a “hold” rating to a “buy” rating and set a $144.00 price objective for the company in a research report on Tuesday, July 4th. J P Morgan Chase & Co set a $184.00 price objective on shares of Vertex Pharmaceuticals and gave the stock a “buy” rating in a research report on Thursday, July 27th. Raymond James Financial, Inc. raised shares of Vertex Pharmaceuticals from a “market perform” rating to an “outperform” rating and set a $181.00 price objective for the company in a research report on Wednesday, July 19th. Finally, Vetr cut shares of Vertex Pharmaceuticals from a “strong-buy” rating to a “buy” rating and set a $181.00 price objective for the company. in a research report on Monday, September 4th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-three have issued a buy rating to the company’s stock. Vertex Pharmaceuticals presently has a consensus rating of “Buy” and a consensus price target of $169.74.
A number of institutional investors have recently made changes to their positions in VRTX. Dimensional Fund Advisors LP increased its stake in Vertex Pharmaceuticals by 2.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 272,933 shares of the pharmaceutical company’s stock worth $29,842,000 after purchasing an additional 5,496 shares during the period. Renaissance Technologies LLC purchased a new position in Vertex Pharmaceuticals in the 1st quarter worth approximately $4,387,000. Nuveen Asset Management LLC increased its stake in Vertex Pharmaceuticals by 17.8% in the 1st quarter. Nuveen Asset Management LLC now owns 66,780 shares of the pharmaceutical company’s stock worth $7,302,000 after purchasing an additional 10,093 shares during the period. Xact Kapitalforvaltning AB increased its stake in Vertex Pharmaceuticals by 0.4% in the 2nd quarter. Xact Kapitalforvaltning AB now owns 35,849 shares of the pharmaceutical company’s stock worth $4,620,000 after purchasing an additional 126 shares during the period. Finally, Fox Run Management L.L.C. purchased a new position in Vertex Pharmaceuticals in the 2nd quarter worth approximately $619,000. 93.36% of the stock is currently owned by institutional investors and hedge funds.
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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