Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) COO Ian F. Smith sold 75,000 shares of Vertex Pharmaceuticals stock in a transaction dated Tuesday, October 31st. The stock was sold at an average price of $145.06, for a total value of $10,879,500.00. Following the completion of the sale, the chief operating officer now owns 114,188 shares of the company’s stock, valued at $16,564,111.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
Shares of Vertex Pharmaceuticals Incorporated (VRTX) opened at 146.23 on Wednesday. The company has a market cap of $36.87 billion, a PE ratio of 140.47 and a beta of 1.73. Vertex Pharmaceuticals Incorporated has a 1-year low of $71.46 and a 1-year high of $167.85. The firm has a 50-day moving average price of $152.20 and a 200 day moving average price of $139.52.
Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings data on Wednesday, October 25th. The pharmaceutical company reported $0.53 EPS for the quarter, beating the Zacks’ consensus estimate of $0.04 by $0.49. Vertex Pharmaceuticals had a return on equity of 9.23% and a net margin of 8.53%. The firm had revenue of $578.20 million during the quarter, compared to analysts’ expectations of $522.07 million. During the same quarter last year, the firm posted $0.16 earnings per share. The company’s revenue for the quarter was up 39.7% compared to the same quarter last year. On average, equities analysts anticipate that Vertex Pharmaceuticals Incorporated will post $1.76 earnings per share for the current year.
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A number of institutional investors have recently made changes to their positions in VRTX. Jennison Associates LLC grew its stake in Vertex Pharmaceuticals by 253.8% in the second quarter. Jennison Associates LLC now owns 5,055,122 shares of the pharmaceutical company’s stock valued at $651,454,000 after acquiring an additional 3,626,368 shares during the period. Old Mutual Global Investors UK Ltd. grew its stake in Vertex Pharmaceuticals by 1,384.7% in the second quarter. Old Mutual Global Investors UK Ltd. now owns 1,195,455 shares of the pharmaceutical company’s stock valued at $154,058,000 after acquiring an additional 1,114,939 shares during the period. Assenagon Asset Management S.A. grew its stake in Vertex Pharmaceuticals by 9,422.3% in the third quarter. Assenagon Asset Management S.A. now owns 893,380 shares of the pharmaceutical company’s stock valued at $135,829,000 after acquiring an additional 883,998 shares during the period. AJO LP acquired a new stake in Vertex Pharmaceuticals in the second quarter valued at approximately $71,956,000. Finally, Vanguard Group Inc. grew its stake in Vertex Pharmaceuticals by 3.1% in the second quarter. Vanguard Group Inc. now owns 16,979,872 shares of the pharmaceutical company’s stock valued at $2,188,196,000 after acquiring an additional 504,982 shares during the period. 93.36% of the stock is owned by hedge funds and other institutional investors.
A number of brokerages recently commented on VRTX. Royal Bank Of Canada reiterated a “buy” rating on shares of Vertex Pharmaceuticals in a research report on Friday, October 27th. Needham & Company LLC reiterated a “buy” rating and issued a $195.00 price objective on shares of Vertex Pharmaceuticals in a research report on Friday, October 27th. Robert W. Baird reiterated a “buy” rating on shares of Vertex Pharmaceuticals in a research report on Friday, October 27th. HC Wainwright reiterated a “hold” rating and issued a $85.00 price objective on shares of Vertex Pharmaceuticals in a research report on Thursday, October 26th. Finally, Maxim Group reiterated a “buy” rating and issued a $195.00 price objective on shares of Vertex Pharmaceuticals in a research report on Thursday, October 26th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and twenty-three have given a buy rating to the company. The company has an average rating of “Buy” and an average price target of $169.74.
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.
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