Vertex Pharmaceuticals Incorporated (VRTX) CEO Sells $3,605,591.15 in Stock

Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) CEO Jeffrey M. Leiden sold 23,905 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $150.83, for a total transaction of $3,605,591.15. Following the transaction, the chief executive officer now owns 208,463 shares in the company, valued at approximately $31,442,474.29. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Vertex Pharmaceuticals Incorporated (VRTX) traded up $3.12 during trading on Wednesday, reaching $157.26. 1,901,860 shares of the company were exchanged, compared to its average volume of 2,090,000. Vertex Pharmaceuticals Incorporated has a 1 year low of $84.39 and a 1 year high of $174.96. The company has a quick ratio of 4.58, a current ratio of 4.79 and a debt-to-equity ratio of 0.01. The firm has a market cap of $39,770.00, a price-to-earnings ratio of 80.65, a price-to-earnings-growth ratio of 2.21 and a beta of 1.61.

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

Vertex Pharmaceuticals announced that its board has initiated a share repurchase program on Wednesday, January 31st that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the pharmaceutical company to buy shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.

Hedge funds have recently added to or reduced their stakes in the business. Advisory Services Network LLC lifted its position in Vertex Pharmaceuticals by 337.6% in the 4th quarter. Advisory Services Network LLC now owns 792 shares of the pharmaceutical company’s stock worth $119,000 after buying an additional 611 shares in the last quarter. Smithfield Trust Co. purchased a new stake in Vertex Pharmaceuticals in the 3rd quarter worth approximately $135,000. Whittier Trust Co. lifted its position in Vertex Pharmaceuticals by 153.5% in the 4th quarter. Whittier Trust Co. now owns 991 shares of the pharmaceutical company’s stock worth $149,000 after buying an additional 600 shares in the last quarter. FNY Managed Accounts LLC purchased a new stake in Vertex Pharmaceuticals in the 3rd quarter worth approximately $162,000. Finally, Financial Gravity Companies Inc. purchased a new stake in Vertex Pharmaceuticals in the 4th quarter worth approximately $201,000. Institutional investors own 92.84% of the company’s stock.

A number of research firms recently commented on VRTX. JMP Securities reiterated an “outperform” rating and set a $211.00 price objective (up previously from $200.00) on shares of Vertex Pharmaceuticals in a research note on Tuesday. HC Wainwright restated a “hold” rating and set a $103.00 target price on shares of Vertex Pharmaceuticals in a report on Thursday, February 1st. Credit Suisse Group raised their target price on shares of Vertex Pharmaceuticals from $195.00 to $196.00 and gave the stock an “outperform” rating in a report on Tuesday. Needham & Company LLC restated a “buy” rating and set a $195.00 target price on shares of Vertex Pharmaceuticals in a report on Friday, October 27th. Finally, Jefferies Group restated a “buy” rating and set a $195.00 target price on shares of Vertex Pharmaceuticals in a report on Thursday, February 1st. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and twenty-five have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $183.11.

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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.

Insider Buying and Selling by Quarter for Vertex Pharmaceuticals (NASDAQ:VRTX)

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