Insider Selling: Vertex Pharmaceuticals Incorporated (VRTX) EVP Sells 2,330 Shares of Stock
Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) EVP Michael Parini sold 2,330 shares of Vertex Pharmaceuticals stock in a transaction dated Thursday, August 3rd. The stock was sold at an average price of $155.72, for a total value of $362,827.60. Following the completion of the sale, the executive vice president now owns 31,139 shares of the company’s stock, valued at $4,848,965.08. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.
Michael Parini also recently made the following trade(s):
- On Wednesday, July 19th, Michael Parini sold 10,829 shares of Vertex Pharmaceuticals stock. The shares were sold at an average price of $161.00, for a total value of $1,743,469.00.
Shares of Vertex Pharmaceuticals Incorporated (NASDAQ VRTX) opened at 154.54 on Monday. The stock has a market capitalization of $38.96 billion, a PE ratio of 148.45 and a beta of 1.77. Vertex Pharmaceuticals Incorporated has a one year low of $71.46 and a one year high of $167.85. The stock’s 50 day moving average price is $137.73 and its 200 day moving average price is $111.96.
Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings data on Wednesday, July 26th. The pharmaceutical company reported $0.39 EPS for the quarter, beating the consensus estimate of $0.06 by $0.33. The company had revenue of $544.10 million for the quarter, compared to analyst estimates of $489.95 million. Vertex Pharmaceuticals had a return on equity of 4.64% and a net margin of 12.05%. Vertex Pharmaceuticals’s quarterly revenue was up 26.1% compared to the same quarter last year. During the same period last year, the company earned $0.24 earnings per share. Equities research analysts predict that Vertex Pharmaceuticals Incorporated will post $1.59 EPS for the current fiscal year.
A number of equities research analysts have issued reports on the company. Zacks Investment Research downgraded Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Friday. Cowen and Company restated a “buy” rating on shares of Vertex Pharmaceuticals in a research note on Tuesday, August 1st. Argus boosted their price target on Vertex Pharmaceuticals from $71.46 to $175.00 and gave the company a “buy” rating in a research note on Tuesday, August 1st. Vetr upgraded Vertex Pharmaceuticals from a “buy” rating to a “strong-buy” rating and set a $181.00 price target for the company in a research note on Monday, July 31st. Finally, TheStreet downgraded Vertex Pharmaceuticals from a “b-” rating to a “c+” rating in a research note on Wednesday, July 26th. 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 stock currently has an average rating of “Buy” and an average target price of $162.88.
Several institutional investors have recently added to or reduced their stakes in VRTX. Nisa Investment Advisors LLC increased its position 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 increased its position 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 increased its position 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 position in Vertex Pharmaceuticals during the first quarter valued at $233,000. Finally, Parametrica Management Ltd purchased a new position in Vertex Pharmaceuticals during the first quarter valued at $943,000. Institutional investors and hedge funds own 93.13% of the company’s stock.
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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