Vertex Pharmaceuticals (NASDAQ:VRTX) CMO Sells $471,413.40 in Stock

Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) CMO Carmen Bozic sold 1,020 shares of the company’s stock in a transaction that occurred on Thursday, June 18th. The shares were sold at an average price of $462.17, for a total transaction of $471,413.40. Following the completion of the transaction, the chief marketing officer owned 15,933 shares of the company’s stock, valued at approximately $7,363,754.61. This trade represents a 6.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, 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 Monday, June 15th, Carmen Bozic sold 4,062 shares of Vertex Pharmaceuticals stock. The stock was sold at an average price of $450.00, for a total transaction 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 transaction of $785,250.00.
• On Tuesday, May 12th, Carmen Bozic sold 6,988 shares of Vertex Pharmaceuticals stock. The shares were sold at an average price of $450.00, for a total value of $3,144,600.00.

Vertex Pharmaceuticals Stock Up 1.0%

Shares of NASDAQ:VRTX opened at $480.18 on Friday. The firm has a market cap of $121.87 billion, a P/E ratio of 28.48, a P/E/G ratio of 2.03 and a beta of 0.30. Vertex Pharmaceuticals Incorporated has a 12-month low of $362.50 and a 12-month high of $507.92. The business has a fifty day simple moving average of $441.18 and a 200 day simple moving average of $453.90.

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

Hedge Funds Weigh In On Vertex Pharmaceuticals

A number of institutional investors and hedge funds have recently modified their holdings of the business. Earned Wealth Advisors LLC lifted its position in shares of Vertex Pharmaceuticals by 3.3% during 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 during the period. Confluence Wealth Services Inc. grew its holdings in Vertex Pharmaceuticals by 4.0% in 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 during the period. Williams Jones Wealth Management LLC. grew its holdings in Vertex Pharmaceuticals by 1.9% in the fourth 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 during the period. Childress Capital Advisors LLC increased its stake in Vertex Pharmaceuticals by 3.1% in 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 in the last quarter. Finally, Cannell & Spears LLC increased its stake in 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 currently owned by institutional investors.

Wall Street Analyst Weigh In

VRTX has been the topic of a number of recent analyst reports. Morgan Stanley boosted their price target on shares of Vertex Pharmaceuticals from $612.00 to $616.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 5th. Jefferies Financial Group started coverage on shares of Vertex Pharmaceuticals in a research report on Tuesday, March 10th. They set a “buy” rating and a $580.00 price objective for the company. Wall Street Zen raised shares of Vertex Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Saturday, June 20th. HC Wainwright boosted their target price on shares of Vertex Pharmaceuticals from $591.00 to $641.00 and gave the company a “buy” rating in a report on Tuesday, March 10th. Finally, Bank of America upped their price target on shares of Vertex Pharmaceuticals from $571.00 to $598.00 and gave the company a “buy” rating in a research report on Tuesday, March 10th. Twenty-two research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, Vertex Pharmaceuticals presently has an average rating of “Moderate Buy” and an average target price of $555.91.

Vertex Pharmaceuticals Company Profile

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.