Investors Sell Shares of Vertex Pharmaceuticals Incorporated (VRTX) on Strength (VRTX)
Traders sold shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) on strength during trading hours on Thursday. $79.21 million flowed into the stock on the tick-up and $158.39 million flowed out of the stock on the tick-down, for a money net flow of $79.18 million out of the stock. Of all companies tracked, Vertex Pharmaceuticals had the 0th highest net out-flow for the day. Vertex Pharmaceuticals traded up $4.25 for the day and closed at $160.54
Several equities research analysts have weighed in on VRTX shares. Vetr upgraded Vertex Pharmaceuticals from a “strong sell” rating to a “strong-buy” rating and set a $156.00 target price for the company in a report on Tuesday, July 18th. Jefferies Group LLC reiterated a “buy” rating and issued a $185.00 target price (up from $155.00) on shares of Vertex Pharmaceuticals in a report on Wednesday, July 19th. Credit Suisse Group upped their target price on Vertex Pharmaceuticals from $125.00 to $195.00 and gave the stock an “outperform” rating in a report on Wednesday, July 19th. UBS AG cut Vertex Pharmaceuticals from a “buy” rating to a “neutral” rating and upped their target price for the stock from $135.00 to $174.00 in a report on Wednesday, July 19th. They noted that the move was a valuation call. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $195.00 target price (up from $155.00) on shares of Vertex Pharmaceuticals in a report on Friday, July 21st. Six investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $162.88.
The company has a market capitalization of $40.90 billion, a PE ratio of 155.85 and a beta of 1.74. The company’s 50 day moving average is $153.33 and its 200-day moving average is $122.66.
Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its earnings results on Wednesday, July 26th. The pharmaceutical company reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.33. Vertex Pharmaceuticals had a return on equity of 4.64% and a net margin of 12.05%. The firm had revenue of $544.10 million for the quarter, compared to analyst estimates of $489.95 million. During the same quarter in the prior year, the company earned $0.24 EPS. Vertex Pharmaceuticals’s revenue was up 26.1% on a year-over-year basis. Equities analysts forecast that Vertex Pharmaceuticals Incorporated will post $1.60 EPS for the current year.
In related news, CEO Jeffrey M. Leiden sold 216,624 shares of the company’s stock in a transaction on Friday, July 21st. The shares were sold at an average price of $160.96, for a total transaction of $34,867,799.04. Following the completion of the sale, the chief executive officer now directly owns 400,266 shares of the company’s stock, valued at approximately $64,426,815.36. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP David Altshuler sold 7,500 shares of the company’s stock in a transaction on Monday, June 5th. The stock was sold at an average price of $130.00, for a total transaction of $975,000.00. Following the sale, the executive vice president now directly owns 113,511 shares of the company’s stock, valued at $14,756,430. The disclosure for this sale can be found here. Insiders sold a total of 531,796 shares of company stock valued at $84,789,342 over the last quarter. 1.80% of the stock is currently owned by insiders.
Institutional investors have recently bought and sold shares of the stock. Private Advisor Group LLC boosted its position in Vertex Pharmaceuticals by 1.8% in the first quarter. Private Advisor Group LLC now owns 5,328 shares of the pharmaceutical company’s stock worth $607,000 after buying an additional 94 shares during the last quarter. Teachers Advisors LLC boosted its position in shares of Vertex Pharmaceuticals by 48.6% in the first quarter. Teachers Advisors LLC now owns 510,373 shares of the pharmaceutical company’s stock valued at $55,809,000 after buying an additional 166,998 shares during the last quarter. Princeton Alpha Management LP bought a new position in shares of Vertex Pharmaceuticals during the first quarter valued at approximately $383,000. Dynamic Capital Management Ltd boosted its position in shares of Vertex Pharmaceuticals by 53.8% in the first quarter. Dynamic Capital Management Ltd now owns 39,614 shares of the pharmaceutical company’s stock valued at $4,332,000 after buying an additional 13,853 shares during the last quarter. Finally, Swiss National Bank boosted its position in shares of Vertex Pharmaceuticals by 27.4% in the first quarter. Swiss National Bank now owns 878,809 shares of the pharmaceutical company’s stock valued at $96,098,000 after buying an additional 189,000 shares during the last quarter. 92.87% of the stock is owned by institutional investors.
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.