Insider Selling: Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) EVP Sells 5,000 Shares of Stock

Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) EVP Amit Sachdev sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $225.00, for a total value of $1,125,000.00. Following the sale, the executive vice president now owns 38,416 shares in the company, valued at approximately $8,643,600. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Amit Sachdev also recently made the following trade(s):

  • On Monday, November 25th, Amit Sachdev sold 5,000 shares of Vertex Pharmaceuticals stock. The stock was sold at an average price of $220.00, for a total value of $1,100,000.00.
  • On Tuesday, November 19th, Amit Sachdev sold 5,000 shares of Vertex Pharmaceuticals stock. The stock was sold at an average price of $215.00, for a total value of $1,075,000.00.
  • On Monday, November 4th, Amit Sachdev sold 4,097 shares of Vertex Pharmaceuticals stock. The shares were sold at an average price of $200.34, for a total value of $820,792.98.
  • On Friday, October 25th, Amit Sachdev sold 4,311 shares of Vertex Pharmaceuticals stock. The shares were sold at an average price of $197.89, for a total value of $853,103.79.
  • On Tuesday, October 22nd, Amit Sachdev sold 3,883 shares of Vertex Pharmaceuticals stock. The shares were sold at an average price of $190.27, for a total value of $738,818.41.

VRTX stock opened at $220.27 on Wednesday. The company has a quick ratio of 3.32, a current ratio of 3.44 and a debt-to-equity ratio of 0.12. Vertex Pharmaceuticals Incorporated has a fifty-two week low of $151.80 and a fifty-two week high of $225.66. The firm’s 50-day simple moving average is $208.34 and its 200 day simple moving average is $183.94. The stock has a market cap of $57.41 billion, a PE ratio of 77.83, a price-to-earnings-growth ratio of 2.04 and a beta of 1.49.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its earnings results on Wednesday, October 30th. The pharmaceutical company reported $1.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.87 by $0.36. Vertex Pharmaceuticals had a net margin of 59.24% and a return on equity of 20.33%. The firm had revenue of $949.83 million during the quarter, compared to analyst estimates of $942.90 million. During the same period in the previous year, the business posted $1.09 EPS. Vertex Pharmaceuticals’s revenue was up 21.1% on a year-over-year basis. Equities analysts forecast that Vertex Pharmaceuticals Incorporated will post 3.72 EPS for the current fiscal year.

Several equities analysts recently issued reports on the company. JPMorgan Chase & Co. set a $218.00 price objective on Vertex Pharmaceuticals and gave the stock a “buy” rating in a research note on Monday, October 21st. Bank of America assumed coverage on shares of Vertex Pharmaceuticals in a research note on Wednesday, October 16th. They set a “buy” rating and a $220.00 target price for the company. Morgan Stanley increased their target price on shares of Vertex Pharmaceuticals from $215.00 to $240.00 and gave the stock an “overweight” rating in a report on Friday, September 6th. Jefferies Financial Group set a $220.00 price target on shares of Vertex Pharmaceuticals and gave the stock a “buy” rating in a research report on Monday, October 21st. Finally, Piper Jaffray Companies raised their price target on shares of Vertex Pharmaceuticals from $230.00 to $247.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $219.07.

Several institutional investors and hedge funds have recently added to or reduced their stakes in VRTX. Nuveen Asset Management LLC grew its holdings in Vertex Pharmaceuticals by 14,936.8% in the 2nd quarter. Nuveen Asset Management LLC now owns 2,307,403 shares of the pharmaceutical company’s stock worth $423,131,000 after buying an additional 2,292,058 shares in the last quarter. BlackRock Inc. boosted its position in Vertex Pharmaceuticals by 2.6% during the 2nd quarter. BlackRock Inc. now owns 20,708,669 shares of the pharmaceutical company’s stock worth $3,797,554,000 after acquiring an additional 532,371 shares during the period. Renaissance Technologies LLC grew its stake in shares of Vertex Pharmaceuticals by 9.4% in the second quarter. Renaissance Technologies LLC now owns 5,555,817 shares of the pharmaceutical company’s stock worth $1,018,826,000 after purchasing an additional 477,100 shares in the last quarter. Senator Investment Group LP bought a new position in shares of Vertex Pharmaceuticals in the second quarter worth $82,521,000. Finally, Invesco Ltd. increased its holdings in shares of Vertex Pharmaceuticals by 9.0% during the second quarter. Invesco Ltd. now owns 4,063,908 shares of the pharmaceutical company’s stock valued at $745,238,000 after purchasing an additional 335,938 shares during the period. 94.86% of the stock is currently owned by institutional investors.

About Vertex Pharmaceuticals

Vertex Pharmaceuticals Incorporated engages in developing and commercializing therapies for treating cystic fibrosis. The company markets SYMDEKO/SYMKEVI, ORKAMBI, and KALYDECO to treat patients with cystic fibrosis who have specific mutations in their cystic fibrosis transmembrane conductance regulator gene.

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