Vertex Pharmaceuticals Incorporated (VRTX) SVP Sells $342,141.84 in Stock

Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) SVP Paul M. Silva sold 2,098 shares of the stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $163.08, for a total transaction of $342,141.84. Following the completion of the transaction, the senior vice president now owns 17,923 shares of the company’s stock, valued at $2,922,882.84. The sale was disclosed in a document filed with the SEC, which is available through this link.

Shares of Vertex Pharmaceuticals Incorporated (NASDAQ VRTX) traded down $3.60 during midday trading on Wednesday, hitting $155.67. 1,812,036 shares of the stock were exchanged, compared to its average volume of 1,880,000. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.58 and a current ratio of 4.79. The stock has a market cap of $39,370.00, a P/E ratio of 79.83, a PEG ratio of 2.26 and a beta of 1.61. Vertex Pharmaceuticals Incorporated has a 12-month low of $84.39 and a 12-month high of $174.96.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly earnings data on Wednesday, January 31st. The pharmaceutical company reported $0.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.53 by $0.08. The company had revenue of $651.63 million for the quarter, compared to the consensus estimate of $592.49 million. Vertex Pharmaceuticals had a net margin of 10.59% and a return on equity of 11.02%. The firm’s revenue was up 42.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.35 earnings per share. equities research analysts forecast that Vertex Pharmaceuticals Incorporated will post 1.63 EPS for the current fiscal year.

Vertex Pharmaceuticals declared that its board has initiated a share repurchase program on Wednesday, January 31st that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the pharmaceutical company to buy shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s management believes its stock is undervalued.

Several brokerages recently issued reports on VRTX. Barclays increased their price target on shares of Vertex Pharmaceuticals from $180.00 to $200.00 and gave the stock an “overweight” rating in a research note on Thursday, February 1st. HC Wainwright reiterated a “hold” rating and issued a $103.00 price target on shares of Vertex Pharmaceuticals in a research note on Thursday, February 1st. Zacks Investment Research downgraded shares of Vertex Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research report on Sunday, January 21st. Robert W. Baird reissued a “buy” rating on shares of Vertex Pharmaceuticals in a research report on Friday, October 27th. Finally, Citigroup reissued a “buy” rating on shares of Vertex Pharmaceuticals in a research report on Thursday, February 1st. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and twenty-five have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $180.07.

Several institutional investors and hedge funds have recently bought and sold shares of the stock. RNC Capital Management LLC boosted its holdings in shares of Vertex Pharmaceuticals by 5.3% in the second quarter. RNC Capital Management LLC now owns 2,978 shares of the pharmaceutical company’s stock worth $384,000 after buying an additional 150 shares during the last quarter. Verition Fund Management LLC boosted its holdings in shares of Vertex Pharmaceuticals by 8.4% in the second quarter. Verition Fund Management LLC now owns 3,693 shares of the pharmaceutical company’s stock worth $476,000 after buying an additional 287 shares during the last quarter. Grandfield & Dodd LLC boosted its holdings in shares of Vertex Pharmaceuticals by 5.9% in the third quarter. Grandfield & Dodd LLC now owns 6,145 shares of the pharmaceutical company’s stock worth $934,000 after buying an additional 340 shares during the last quarter. First Republic Investment Management Inc. boosted its holdings in shares of Vertex Pharmaceuticals by 2.8% in the third quarter. First Republic Investment Management Inc. now owns 12,643 shares of the pharmaceutical company’s stock worth $1,922,000 after buying an additional 346 shares during the last quarter. Finally, Atria Investments LLC boosted its holdings in shares of Vertex Pharmaceuticals by 7.9% in the fourth quarter. Atria Investments LLC now owns 4,765 shares of the pharmaceutical company’s stock worth $714,000 after buying an additional 350 shares during the last quarter. 92.81% of the stock is currently owned by institutional investors.

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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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