Vertex Pharmaceuticals Incorporated (VRTX) EVP Sells $5,802,000.00 in Stock

Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) EVP Amit Sachdev sold 40,000 shares of the stock in a transaction on Tuesday, October 31st. The shares were sold at an average price of $145.05, for a total transaction of $5,802,000.00. Following the completion of the transaction, the executive vice president now owns 89,810 shares of the company’s stock, valued at approximately $13,026,940.50. The sale was disclosed in a filing with the SEC, which is accessible through this link.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly earnings results on Wednesday, October 25th. The pharmaceutical company reported $0.53 earnings per share for the quarter, topping the Thomson Reuters’ 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 in the previous year, the business earned $0.16 earnings per share. The company’s revenue was up 39.7% on a year-over-year basis.

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A number of equities analysts have recently issued reports on VRTX shares. Cowen and Company restated a “market perform” rating and issued a $105.00 price objective on shares of Vertex Pharmaceuticals in a research note on Thursday, July 6th. Jefferies Group LLC started coverage on shares of Vertex Pharmaceuticals in a research note on Monday, July 10th. They issued a “buy” rating and a $155.00 price objective for the company. Stifel Nicolaus increased their price objective on shares of Vertex Pharmaceuticals from $130.00 to $154.00 and gave the company a “buy” rating in a research note on Tuesday, July 18th. Vetr upgraded shares of Vertex Pharmaceuticals from a “strong sell” rating to a “strong-buy” rating and set a $156.00 price objective for the company in a research note on Tuesday, July 18th. Finally, Barclays PLC upgraded shares of Vertex Pharmaceuticals from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $115.00 to $180.00 in a research note on Wednesday, July 19th. One analyst has rated the stock with a sell rating, five have given a hold rating and twenty-three have assigned a buy rating to the stock. Vertex Pharmaceuticals has an average rating of “Buy” and a consensus price target of $173.15.

A number of institutional investors have recently bought and sold shares of VRTX. Jennison Associates LLC increased its position in Vertex Pharmaceuticals by 253.8% during 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 last quarter. Old Mutual Global Investors UK Ltd. increased its position in Vertex Pharmaceuticals by 1,384.7% during 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 last quarter. Assenagon Asset Management S.A. increased its position in Vertex Pharmaceuticals by 9,422.3% during 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 last quarter. AJO LP purchased a new stake in Vertex Pharmaceuticals during the second quarter valued at $71,956,000. Finally, Vanguard Group Inc. increased its position in Vertex Pharmaceuticals by 3.1% during 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 last quarter. Institutional investors own 93.36% of the company’s stock.

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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