Insider Selling: Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) SVP Sells $195,670.20 in Stock
Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) SVP Paul M. Silva sold 1,289 shares of the business’s stock in a transaction that occurred on Wednesday, August 2nd. The stock was sold at an average price of $151.80, for a total value of $195,670.20. Following the sale, the senior vice president now directly owns 17,923 shares in the company, valued at $2,720,711.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.
Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) opened at 154.54 on Monday. The stock’s 50 day moving average price is $137.73 and its 200-day moving average price is $111.96. The firm has a market capitalization of $38.96 billion, a P/E ratio of 148.45 and a beta of 1.77. Vertex Pharmaceuticals Incorporated has a 12 month low of $71.46 and a 12 month high of $167.85.
Vertex Pharmaceuticals (NASDAQ:VRTX) last released its quarterly earnings data on Wednesday, July 26th. The pharmaceutical company reported $0.39 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.06 by $0.33. The business had revenue of $544.10 million during the quarter, compared to analysts’ expectations of $489.95 million. Vertex Pharmaceuticals had a net margin of 12.05% and a return on equity of 4.64%. The company’s revenue for the quarter was up 26.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.24 EPS. Equities analysts forecast that Vertex Pharmaceuticals Incorporated will post $1.59 earnings per share for the current year.
Several brokerages have weighed in on VRTX. Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of Vertex Pharmaceuticals in a research note on Sunday, April 30th. UBS AG reissued a “buy” rating and set a $135.00 price objective (up from $132.00) on shares of Vertex Pharmaceuticals in a research note on Friday, May 19th. Stifel Nicolaus boosted their price objective on Vertex Pharmaceuticals from $130.00 to $154.00 and gave the stock a “buy” rating in a research note on Tuesday, July 18th. Robert W. Baird reissued an “outperform” rating and set a $171.00 price objective (up from $136.00) on shares of Vertex Pharmaceuticals in a research note on Friday, July 21st. Finally, Cowen and Company reissued a “market perform” rating and set a $105.00 price objective on shares of Vertex Pharmaceuticals in a research note on Thursday, July 6th. Five equities research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $162.88.
Large investors have recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC boosted its stake in Vertex Pharmaceuticals by 10.4% in the first quarter. Nisa Investment Advisors LLC now owns 67,000 shares of the pharmaceutical company’s stock valued at $7,326,000 after buying an additional 6,315 shares during the period. DnB Asset Management AS boosted its stake in Vertex Pharmaceuticals by 18.3% in the first quarter. DnB Asset Management AS now owns 26,480 shares of the pharmaceutical company’s stock valued at $2,896,000 after buying an additional 4,100 shares during the period. Gateway Investment Advisers LLC boosted its stake in Vertex Pharmaceuticals by 7.7% in the first quarter. Gateway Investment Advisers LLC now owns 180,180 shares of the pharmaceutical company’s stock valued at $19,703,000 after buying an additional 12,858 shares during the period. Berkshire Asset Management LLC PA purchased a new stake in Vertex Pharmaceuticals during the first quarter valued at about $233,000. Finally, Parametrica Management Ltd purchased a new stake in Vertex Pharmaceuticals during the first quarter valued at about $943,000. 93.13% of the stock is owned by institutional investors and hedge funds.
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.
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