Vertex Pharmaceuticals Incorporated (VRTX) EVP Sells $1,861,783.76 in Stock

Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) EVP Michael Parini sold 12,136 shares of the business’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $153.41, for a total transaction of $1,861,783.76. Following the transaction, the executive vice president now owns 74,652 shares in the company, valued at approximately $11,452,363.32. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Vertex Pharmaceuticals Incorporated (NASDAQ VRTX) traded up $3.12 during trading hours on Wednesday, reaching $157.26. 1,901,860 shares of the company’s stock were exchanged, compared to its average volume of 2,090,000. The firm has a market capitalization of $39,770.00, a price-to-earnings ratio of 80.65, a PEG ratio of 2.21 and a beta of 1.61. Vertex Pharmaceuticals Incorporated has a 52-week low of $84.39 and a 52-week high of $174.96. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.58 and a current ratio of 4.79.

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

Vertex Pharmaceuticals declared that its board has approved a share buyback plan on Wednesday, January 31st that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the pharmaceutical company to purchase shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Large investors have recently added to or reduced their stakes in the business. Jennison Associates LLC raised its stake in shares of Vertex Pharmaceuticals by 19.0% in the third quarter. Jennison Associates LLC now owns 6,017,766 shares of the pharmaceutical company’s stock worth $914,941,000 after acquiring an additional 962,644 shares during the last quarter. Renaissance Technologies LLC raised its stake in shares of Vertex Pharmaceuticals by 108.2% in the fourth quarter. Renaissance Technologies LLC now owns 2,847,917 shares of the pharmaceutical company’s stock worth $426,789,000 after acquiring an additional 1,479,897 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Vertex Pharmaceuticals by 4.2% in the fourth quarter. Geode Capital Management LLC now owns 2,607,251 shares of the pharmaceutical company’s stock worth $389,878,000 after acquiring an additional 105,683 shares during the last quarter. Wells Fargo & Company MN raised its stake in shares of Vertex Pharmaceuticals by 7.6% in the fourth quarter. Wells Fargo & Company MN now owns 2,127,092 shares of the pharmaceutical company’s stock worth $318,765,000 after acquiring an additional 149,823 shares during the last quarter. Finally, Orbimed Advisors LLC raised its stake in shares of Vertex Pharmaceuticals by 2.4% in the third quarter. Orbimed Advisors LLC now owns 2,074,302 shares of the pharmaceutical company’s stock worth $315,377,000 after acquiring an additional 47,800 shares during the last quarter. Hedge funds and other institutional investors own 92.84% of the company’s stock.

Several research firms have recently issued reports on VRTX. JMP Securities restated an “outperform” rating and set a $211.00 price objective (up previously from $200.00) on shares of Vertex Pharmaceuticals in a report on Tuesday. HC Wainwright restated a “hold” rating and set a $103.00 price objective on shares of Vertex Pharmaceuticals in a report on Thursday, February 1st. Credit Suisse Group boosted their price objective 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 price objective on shares of Vertex Pharmaceuticals in a report on Friday, October 27th. Finally, Jefferies Group reiterated a “buy” rating and set a $195.00 target price 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 issued a hold rating and twenty-five have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $183.11.

WARNING: This news story was published by American Banking News and is the sole property of of American Banking News. If you are reading this news story on another site, it was stolen and republished in violation of US and international trademark and copyright law. The legal version of this news story can be viewed at https://www.americanbankingnews.com/2018/02/14/vertex-pharmaceuticals-incorporated-vrtx-evp-sells-1861783-76-in-stock.html.

Vertex Pharmaceuticals Company Profile

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)

Receive News & Ratings for Vertex Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Vertex Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply