Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) CEO Jeffrey M. Leiden sold 216,624 shares of the business’s stock in a transaction dated Friday, July 21st. The stock was sold at an average price of $160.96, for a total transaction of $34,867,799.04. Following the sale, the chief executive officer now owns 400,266 shares in the company, valued at $64,426,815.36. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) opened at 153.78 on Friday. Vertex Pharmaceuticals Incorporated has a 1-year low of $71.46 and a 1-year high of $167.86. The company’s 50-day moving average is $143.85 and its 200 day moving average is $115.44. The firm has a market capitalization of $38.77 billion, a PE ratio of 147.72 and a beta of 1.77.
Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings data on Wednesday, July 26th. The pharmaceutical company reported $0.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.33. The business had revenue of $544.10 million for the quarter, compared to analysts’ expectations of $489.95 million. Vertex Pharmaceuticals had a return on equity of 4.64% and a net margin of 12.05%. The firm’s quarterly revenue was up 26.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.24 EPS. On average, equities analysts expect that Vertex Pharmaceuticals Incorporated will post $1.60 EPS for the current fiscal year.
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Hedge funds have recently modified their holdings of the company. Private Advisor Group LLC boosted its stake in shares of 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 period. Princeton Alpha Management LP bought a new stake in shares of Vertex Pharmaceuticals during the first quarter worth about $383,000. Teachers Advisors LLC boosted its stake in 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. Dynamic Capital Management Ltd boosted its stake in 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 stake in 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. 93.13% of the stock is currently owned by institutional investors and hedge funds.
A number of analysts have commented on the stock. J P Morgan Chase & Co set a $184.00 price target on shares of Vertex Pharmaceuticals and gave the stock a “buy” rating in a research report on Thursday, July 27th. Oppenheimer Holdings, Inc. boosted their target price on shares of Vertex Pharmaceuticals from $150.00 to $175.00 and gave the stock an “outperform” rating in a report on Thursday, July 27th. Maxim Group set a $195.00 target price on shares of Vertex Pharmaceuticals and gave the stock a “buy” rating in a report on Thursday, July 27th. Morgan Stanley reiterated an “overweight” rating and issued a $190.00 target price (up from $153.00) on shares of Vertex Pharmaceuticals in a report on Saturday, July 22nd. Finally, Vetr downgraded shares of Vertex Pharmaceuticals from a “strong-buy” rating to a “buy” rating and set a $181.00 target price on the stock. in a research report on Monday, July 24th. Five investment analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus 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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