Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) CEO Jeffrey M. Leiden sold 11,063 shares of the business’s stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $152.81, for a total transaction of $1,690,537.03. Following the transaction, the chief executive officer now owns 268,455 shares in the company, valued at approximately $41,022,608.55. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) traded down 2.4793% during trading on Thursday, hitting $153.6438. 749,124 shares of the stock were exchanged. Vertex Pharmaceuticals Incorporated has a 52 week low of $71.46 and a 52 week high of $167.86. The firm has a market capitalization of $38.53 billion, a P/E ratio of 147.7344 and a beta of 1.77. The firm has a 50 day moving average price of $137.73 and a 200 day moving average price of $111.97.
Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly earnings results on Wednesday, July 26th. The pharmaceutical company reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.33. Vertex Pharmaceuticals had a net margin of 12.05% and a return on equity of 4.64%. The company had revenue of $544.10 million for the quarter, compared to the consensus estimate of $489.95 million. During the same period last year, the company posted $0.24 EPS. The firm’s quarterly revenue was up 26.1% compared to the same quarter last year. Analysts forecast that Vertex Pharmaceuticals Incorporated will post $1.59 EPS for the current fiscal year.
Large investors have recently bought and sold shares of the company. Wrapmanager Inc. increased its stake in Vertex Pharmaceuticals by 3.0% in the second quarter. Wrapmanager Inc. now owns 8,194 shares of the pharmaceutical company’s stock valued at $1,056,000 after buying an additional 237 shares in the last quarter. LMR Partners LLP increased its stake in Vertex Pharmaceuticals by 11.5% in the second quarter. LMR Partners LLP now owns 15,825 shares of the pharmaceutical company’s stock valued at $2,040,000 after buying an additional 1,636 shares in the last quarter. Dupont Capital Management Corp acquired a new stake in Vertex Pharmaceuticals during the second quarter valued at approximately $186,000. Conning Inc. increased its stake in Vertex Pharmaceuticals by 6.4% in the second quarter. Conning Inc. now owns 6,489 shares of the pharmaceutical company’s stock valued at $836,000 after buying an additional 390 shares in the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in Vertex Pharmaceuticals by 51.4% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 213,681 shares of the pharmaceutical company’s stock valued at $27,537,000 after buying an additional 72,525 shares in the last quarter. Institutional investors and hedge funds own 94.37% of the company’s stock.
Several research firms have recently issued reports on VRTX. Oppenheimer Holdings, Inc. restated a “hold” rating on shares of Vertex Pharmaceuticals in a report on Sunday, April 30th. UBS AG restated a “buy” rating and set a $135.00 price objective (up previously from $132.00) on shares of Vertex Pharmaceuticals in a report on Friday, May 19th. Stifel Nicolaus boosted their price objective on shares of Vertex Pharmaceuticals from $130.00 to $154.00 and gave the stock a “buy” rating in a report on Tuesday, July 18th. Robert W. Baird restated an “outperform” rating and set a $171.00 price objective (up previously from $136.00) on shares of Vertex Pharmaceuticals in a report on Friday, July 21st. Finally, Cowen and Company reiterated a “market perform” rating and set a $105.00 target price on shares of Vertex Pharmaceuticals in a research report on Thursday, July 6th. Four research analysts have rated the stock with a hold rating, twenty-three 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 an average target price of $162.88.
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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