Insider Selling: Vertex Pharmaceuticals Incorporated (VRTX) CEO Sells 216,624 Shares of Stock

Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) CEO Jeffrey M. Leiden sold 216,624 shares of the stock in a transaction dated Friday, July 21st. The shares were sold at an average price of $160.96, for a total transaction of $34,867,799.04. Following the completion of the transaction, the chief executive officer now owns 400,266 shares of the company’s stock, valued at approximately $64,426,815.36. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) traded down 0.28% on Friday, hitting $148.13. The company’s stock had a trading volume of 887,138 shares. Vertex Pharmaceuticals Incorporated has a 52 week low of $71.46 and a 52 week high of $167.86. The stock’s 50-day moving average price is $146.73 and its 200-day moving average price is $117.81. The firm has a market cap of $37.35 billion, a price-to-earnings ratio of 142.30 and a beta of 1.77.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings data on Wednesday, July 26th. The pharmaceutical company reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.33. Vertex Pharmaceuticals had a return on equity of 4.64% and a net margin of 12.05%. The business had revenue of $544.10 million during the quarter, compared to the consensus estimate of $489.95 million. During the same period in the prior year, the company earned $0.24 EPS. Vertex Pharmaceuticals’s revenue for the quarter was up 26.1% on a year-over-year basis. Equities analysts expect that Vertex Pharmaceuticals Incorporated will post $1.60 earnings per share for the current fiscal year.

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Several research firms have recently weighed in on VRTX. J P Morgan Chase & Co set a $184.00 price objective on shares of Vertex Pharmaceuticals and gave the company a “buy” rating in a research report on Thursday, July 27th. Oppenheimer Holdings, Inc. raised their price objective on shares of Vertex Pharmaceuticals from $150.00 to $175.00 and gave the company an “outperform” rating in a research report on Thursday, July 27th. Maxim Group set a $195.00 price objective on shares of Vertex Pharmaceuticals and gave the company a “buy” rating in a research report on Thursday, July 27th. Morgan Stanley restated an “overweight” rating and set a $190.00 price objective (up previously from $153.00) on shares of Vertex Pharmaceuticals in a research report on Saturday, July 22nd. Finally, Vetr lowered shares of Vertex Pharmaceuticals from a “strong-buy” rating to a “buy” rating and set a $181.00 price objective for the company. in a research report on Monday, July 24th. Six investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $162.88.

Hedge funds have recently made changes to their positions in the company. Private Advisor Group LLC increased 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 valued at $607,000 after buying an additional 94 shares in the last quarter. Princeton Alpha Management LP acquired a new stake in shares of Vertex Pharmaceuticals during the first quarter valued at $383,000. Teachers Advisors LLC increased its stake in shares of 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 in the last quarter. Dynamic Capital Management Ltd increased its position 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 in the last quarter. Finally, Swiss National Bank increased its position 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 in the last quarter. Institutional investors and hedge funds own 94.89% of the company’s stock.

About Vertex Pharmaceuticals

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.

Insider Buying and Selling by Quarter for Vertex Pharmaceuticals (NASDAQ:VRTX)

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