Vertex Pharmaceuticals (NASDAQ:VRTX) CMO Carmen Bozic Sells 4,062 Shares

Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) CMO Carmen Bozic sold 4,062 shares of Vertex Pharmaceuticals stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $450.00, for a total transaction of $1,827,900.00. Following the sale, the chief marketing officer owned 16,953 shares in the company, valued at approximately $7,628,850. This trade represents a 19.33% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through 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 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 transaction 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 transaction of $3,144,600.00.

Vertex Pharmaceuticals Trading Up 1.3%

NASDAQ VRTX opened at $458.99 on Thursday. Vertex Pharmaceuticals Incorporated has a 1-year low of $362.50 and a 1-year high of $507.92. The company has a market capitalization of $116.49 billion, a price-to-earnings ratio of 27.22, a PEG ratio of 1.94 and a beta of 0.30. The stock’s 50 day moving average is $438.16 and its two-hundred day moving average is $453.01.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its earnings results on Monday, May 4th. The pharmaceutical company reported $4.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.24 by $0.23. The business had revenue of $2.99 billion during the quarter, compared to analysts’ expectations of $2.99 billion. Vertex Pharmaceuticals had a return on equity of 23.86% and a net margin of 35.51%.Vertex Pharmaceuticals’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $4.06 EPS. On average, analysts predict that Vertex Pharmaceuticals Incorporated will post 17.02 earnings per share for the current year.

Wall Street Analysts Forecast Growth

VRTX has been the topic of several recent analyst reports. Canaccord Genuity Group reduced their target price on shares of Vertex Pharmaceuticals from $437.00 to $436.00 and set a “hold” rating on the stock in a research note on Tuesday, May 5th. Oppenheimer lifted their price target on shares of Vertex Pharmaceuticals from $540.00 to $600.00 and gave the company an “outperform” rating in a report on Tuesday, March 10th. Jefferies Financial Group began coverage on shares of Vertex Pharmaceuticals in a research report on Tuesday, March 10th. They issued a “buy” rating and a $580.00 price target on the stock. Wall Street Zen cut shares of Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Saturday, May 30th. Finally, HC Wainwright raised their price objective on shares of Vertex Pharmaceuticals from $591.00 to $641.00 and gave the stock a “buy” rating in a report on Tuesday, March 10th. Twenty-two investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $555.91.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in VRTX. Earned Wealth Advisors LLC increased its position in Vertex Pharmaceuticals by 3.3% in the 4th quarter. Earned Wealth Advisors LLC now owns 650 shares of the pharmaceutical company’s stock valued at $295,000 after acquiring an additional 21 shares in the last quarter. Confluence Wealth Services Inc. lifted its position in shares of Vertex Pharmaceuticals by 4.0% during the fourth quarter. Confluence Wealth Services Inc. now owns 545 shares of the pharmaceutical company’s stock worth $247,000 after purchasing an additional 21 shares in the last quarter. Williams Jones Wealth Management LLC. grew its stake in shares of Vertex Pharmaceuticals by 1.9% during the fourth quarter. Williams Jones Wealth Management LLC. now owns 1,155 shares of the pharmaceutical company’s stock valued at $524,000 after purchasing an additional 21 shares during the last quarter. Childress Capital Advisors LLC grew its stake in shares of Vertex Pharmaceuticals by 3.1% during the fourth quarter. Childress Capital Advisors LLC now owns 730 shares of the pharmaceutical company’s stock valued at $331,000 after purchasing an additional 22 shares during the last quarter. Finally, Cannell & Spears LLC increased its holdings in shares of Vertex Pharmaceuticals by 1.2% in the first quarter. Cannell & Spears LLC now owns 1,983 shares of the pharmaceutical company’s stock valued at $885,000 after purchasing an additional 23 shares in the last quarter. 90.96% of the stock is owned by institutional investors.

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.