Carmen Bozic Sells 596 Shares of Vertex Pharmaceuticals (NASDAQ:VRTX) Stock

Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) CMO Carmen Bozic sold 596 shares of Vertex Pharmaceuticals stock in a transaction dated Friday, June 26th. The stock was sold at an average price of $482.50, for a total value of $287,570.00. Following the sale, the chief marketing officer directly owned 15,337 shares of the company’s stock, valued at approximately $7,400,102.50. This trade represents a 3.74% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Carmen Bozic also recently made the following trade(s):

• On Thursday, June 18th, Carmen Bozic sold 1,020 shares of Vertex Pharmaceuticals stock. The shares were sold at an average price of $462.17, for a total value of $471,413.40.
• On Monday, June 15th, Carmen Bozic sold 4,062 shares of Vertex Pharmaceuticals stock. The shares were sold at an average price of $450.00, for a total value of $1,827,900.00.
• On Friday, June 5th, Carmen Bozic sold 1,745 shares of Vertex Pharmaceuticals stock. The stock was sold at an average price of $450.00, for a total value of $785,250.00.
• On Tuesday, May 12th, Carmen Bozic sold 6,988 shares of Vertex Pharmaceuticals stock. The stock was sold at an average price of $450.00, for a total value of $3,144,600.00.

Vertex Pharmaceuticals Price Performance

Shares of NASDAQ VRTX opened at $498.01 on Thursday. Vertex Pharmaceuticals Incorporated has a one year low of $362.50 and a one year high of $507.92. The firm’s 50 day simple moving average is $445.74 and its two-hundred day simple moving average is $455.42. The stock has a market capitalization of $126.39 billion, a P/E ratio of 29.54, a PEG ratio of 2.12 and a beta of 0.29.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings data on Monday, May 4th. The pharmaceutical company reported $4.47 earnings per share for the quarter, topping analysts’ consensus estimates of $4.24 by $0.23. Vertex Pharmaceuticals had a net margin of 35.51% and a return on equity of 23.86%. The firm had revenue of $2.99 billion during the quarter, compared to analyst estimates of $2.99 billion. During the same period in the previous year, the business posted $4.06 EPS. The business’s quarterly revenue was up 8.3% on a year-over-year basis. As a group, equities analysts expect that Vertex Pharmaceuticals Incorporated will post 17.02 earnings per share for the current fiscal year.

Analyst Ratings Changes

VRTX has been the subject of several analyst reports. Royal Bank Of Canada upped their price target on shares of Vertex Pharmaceuticals from $541.00 to $543.00 and gave the company an “outperform” rating in a research report on Tuesday, May 5th. Truist Financial initiated coverage on Vertex Pharmaceuticals in a research report on Wednesday, May 27th. They issued a “buy” rating and a $542.00 price objective for the company. Maxim Group raised Vertex Pharmaceuticals from a “hold” rating to a “buy” rating and set a $575.00 price objective for the company in a research note on Wednesday, March 18th. Canaccord Genuity Group cut their target price on shares of Vertex Pharmaceuticals from $437.00 to $436.00 and set a “hold” rating on the stock in a report on Tuesday, May 5th. Finally, Weiss Ratings downgraded shares of Vertex Pharmaceuticals from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday. Twenty-one analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $555.91.

Trending Headlines about Vertex Pharmaceuticals

Here are the key news stories impacting Vertex Pharmaceuticals this week:

• Positive Sentiment: The FDA’s expanded approval for CASGEVY broadens Vertex’s label into younger pediatric patients, strengthening the commercial opportunity for one of its key gene-therapy assets. Article: US FDA approves Vertex’s gene therapy for sickle cell disease in children as young as two
• Positive Sentiment: Vertex separately announced the FDA approval itself, reinforcing investor focus on pipeline execution and the potential for incremental revenue from an expanded patient population. Article: Vertex Announces US FDA Approval for Expanded Use of CASGEVY®…
• Neutral Sentiment: Vertex remains a heavily watched stock, with recent articles highlighting ongoing investor attention and bullish analyst sentiment, but these items are more commentary than new fundamental catalysts. Article: Investors Heavily Search Vertex Pharmaceuticals Incorporated (VRTX)
• Neutral Sentiment: A small insider sale by CMO Carmen Bozic was disclosed, but it was conducted under a pre-arranged trading plan and is unlikely to be seen as a strong negative signal on its own. Article: Carmen Bozic Sells 596 Shares of Vertex Pharmaceuticals (NASDAQ:VRTX) Stock

Institutional Investors Weigh In On Vertex Pharmaceuticals

Several institutional investors and hedge funds have recently bought and sold shares of the business. Earned Wealth Advisors LLC lifted its stake in Vertex Pharmaceuticals by 3.3% in the fourth quarter. Earned Wealth Advisors LLC now owns 650 shares of the pharmaceutical company’s stock worth $295,000 after acquiring an additional 21 shares during the period. Confluence Wealth Services Inc. increased its position in Vertex Pharmaceuticals by 4.0% during the 4th quarter. Confluence Wealth Services Inc. now owns 545 shares of the pharmaceutical company’s stock valued at $247,000 after purchasing an additional 21 shares during the period. Williams Jones Wealth Management LLC. raised its holdings in Vertex Pharmaceuticals by 1.9% in the 4th quarter. Williams Jones Wealth Management LLC. now owns 1,155 shares of the pharmaceutical company’s stock worth $524,000 after purchasing an additional 21 shares in the last quarter. Childress Capital Advisors LLC raised its holdings in Vertex Pharmaceuticals by 3.1% in the 4th quarter. Childress Capital Advisors LLC now owns 730 shares of the pharmaceutical company’s stock worth $331,000 after purchasing an additional 22 shares in the last quarter. Finally, Cannell & Spears LLC lifted its position in shares of Vertex Pharmaceuticals by 1.2% in the 1st quarter. Cannell & Spears LLC now owns 1,983 shares of the pharmaceutical company’s stock worth $885,000 after purchasing an additional 23 shares during the period. Hedge funds and other institutional investors own 90.96% of the company’s stock.

About Vertex Pharmaceuticals

Vertex Pharmaceuticals Inc is a Boston-based biotechnology company focused on the discovery, development and commercialization of therapies for serious diseases. Founded in 1989, Vertex built its reputation on research-driven drug development and is best known for its work in cystic fibrosis (CF), where its portfolio of small-molecule CFTR modulators transformed standards of care for many people with the disease. The company operates research and development, manufacturing and commercial organizations and serves patients and healthcare systems in multiple international markets.

Vertex’s marketed products center on CFTR modulators that target the underlying cause of cystic fibrosis rather than just treating symptoms.