Insider Selling: Vertex Pharmaceuticals Incorporated (VRTX) Director Sells $659,840.00 in Stock
Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Director Joshua S. Boger sold 8,000 shares of the stock in a transaction dated Wednesday, January 11th. The stock was sold at an average price of $82.48, for a total transaction of $659,840.00. Following the transaction, the director now owns 276,225 shares of the company’s stock, valued at $22,783,038. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.
Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) opened at 83.17 on Friday. The company has a 50-day moving average of $78.64 and a 200-day moving average of $87.48. The company’s market capitalization is $20.63 billion. Vertex Pharmaceuticals Incorporated has a 52 week low of $71.46 and a 52 week high of $105.50.
Vertex Pharmaceuticals (NASDAQ:VRTX) last released its earnings results on Tuesday, October 25th. The pharmaceutical company reported $0.16 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.18 by $0.02. The company earned $413.78 million during the quarter, compared to analysts’ expectations of $423.53 million. Vertex Pharmaceuticals had a negative net margin of 13.45% and a negative return on equity of 5.31%. The firm’s revenue was up 33.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.13) earnings per share. On average, equities research analysts anticipate that Vertex Pharmaceuticals Incorporated will post $0.83 EPS for the current year.
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A number of equities analysts have recently commented on VRTX shares. Leerink Swann set a $112.00 price objective on shares of Vertex Pharmaceuticals and gave the stock a “buy” rating in a research note on Saturday, September 17th. Zacks Investment Research downgraded shares of Vertex Pharmaceuticals from a “hold” rating to a “strong sell” rating in a research note on Tuesday, September 27th. Maxim Group restated a “hold” rating on shares of Vertex Pharmaceuticals in a research note on Thursday, September 29th. Stifel Nicolaus set a $109.00 price objective on shares of Vertex Pharmaceuticals and gave the stock a “buy” rating in a research note on Thursday, September 29th. Finally, Credit Suisse Group set a $110.00 price objective on shares of Vertex Pharmaceuticals and gave the stock a “buy” rating in a research note on Wednesday, September 28th. Sixteen research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $105.91.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. ETRADE Capital Management LLC boosted its position in Vertex Pharmaceuticals by 24.3% in the third quarter. ETRADE Capital Management LLC now owns 3,651 shares of the pharmaceutical company’s stock worth $318,000 after buying an additional 714 shares during the last quarter. Piedmont Investment Advisors LLC bought a new position in Vertex Pharmaceuticals during the third quarter worth $4,417,000. Price T Rowe Associates Inc. MD boosted its position in Vertex Pharmaceuticals by 1.0% in the third quarter. Price T Rowe Associates Inc. MD now owns 23,483,388 shares of the pharmaceutical company’s stock worth $2,047,986,000 after buying an additional 235,525 shares during the last quarter. Canyon Capital Advisors LLC boosted its position in Vertex Pharmaceuticals by 28.3% in the third quarter. Canyon Capital Advisors LLC now owns 494,403 shares of the pharmaceutical company’s stock worth $43,117,000 after buying an additional 109,018 shares during the last quarter. Finally, Credit Suisse AG boosted its position in Vertex Pharmaceuticals by 4.4% in the third quarter. Credit Suisse AG now owns 733,751 shares of the pharmaceutical company’s stock worth $63,991,000 after buying an additional 30,966 shares during the last quarter. Hedge funds and other institutional investors own 95.29% of the company’s stock.
Vertex Pharmaceuticals Company Profile
Vertex Pharmaceuticals Incorporated is engaged in the business of discovering, developing, manufacturing and commercializing medicines for serious diseases. The Company operates in pharmaceuticals segment. Its business 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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