Bruce I. Sachs Sells 7,073 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Stock

Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Director Bruce I. Sachs sold 7,073 shares of the business’s stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $448.00, for a total value of $3,168,704.00. Following the completion of the sale, the director now owns 40,000 shares of the company’s stock, valued at $17,920,000. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Vertex Pharmaceuticals Price Performance

Vertex Pharmaceuticals stock traded up $6.15 during midday trading on Friday, hitting $456.95. The company’s stock had a trading volume of 1,050,791 shares, compared to its average volume of 1,214,983. Vertex Pharmaceuticals Incorporated has a 12 month low of $320.01 and a 12 month high of $457.66. The company has a quick ratio of 3.29, a current ratio of 3.50 and a debt-to-equity ratio of 0.02. The company has a market capitalization of $117.92 billion, a PE ratio of 29.48, a price-to-earnings-growth ratio of 2.29 and a beta of 0.39. The stock’s 50-day moving average price is $412.50 and its 200-day moving average price is $406.09.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its earnings results on Monday, May 6th. The pharmaceutical company reported $4.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.66 by $1.10. Vertex Pharmaceuticals had a return on equity of 23.08% and a net margin of 39.46%. The company had revenue of $2.69 billion for the quarter, compared to analyst estimates of $2.58 billion. During the same period in the previous year, the firm earned $2.67 earnings per share. Vertex Pharmaceuticals’s revenue for the quarter was up 13.3% compared to the same quarter last year. Analysts anticipate that Vertex Pharmaceuticals Incorporated will post 15.28 earnings per share for the current fiscal year.

Institutional Trading of Vertex Pharmaceuticals

A number of hedge funds have recently modified their holdings of the business. University of Texas Texas AM Investment Managment Co. acquired a new stake in Vertex Pharmaceuticals during the 4th quarter worth about $25,000. Arlington Trust Co LLC boosted its holdings in shares of Vertex Pharmaceuticals by 97.1% during the fourth quarter. Arlington Trust Co LLC now owns 67 shares of the pharmaceutical company’s stock worth $27,000 after purchasing an additional 33 shares during the period. Annapolis Financial Services LLC purchased a new position in Vertex Pharmaceuticals during the first quarter valued at approximately $27,000. ICA Group Wealth Management LLC acquired a new position in Vertex Pharmaceuticals in the 4th quarter valued at approximately $28,000. Finally, Fortitude Family Office LLC purchased a new stake in Vertex Pharmaceuticals in the 4th quarter worth approximately $30,000. Hedge funds and other institutional investors own 90.96% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on VRTX shares. Wolfe Research began coverage on shares of Vertex Pharmaceuticals in a research note on Thursday, February 15th. They set an “outperform” rating and a $515.00 target price for the company. StockNews.com upgraded Vertex Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research note on Sunday, May 19th. Evercore ISI upgraded Vertex Pharmaceuticals from an “in-line” rating to an “outperform” rating and set a $438.00 price target on the stock in a research report on Thursday, April 11th. William Blair reissued an “outperform” rating on shares of Vertex Pharmaceuticals in a report on Tuesday, February 6th. Finally, Robert W. Baird downgraded Vertex Pharmaceuticals from a “neutral” rating to an “underperform” rating and set a $325.00 price objective for the company. in a research note on Wednesday, January 31st. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $432.18.

Vertex Pharmaceuticals Company Profile

Vertex Pharmaceuticals Incorporated, a biotechnology company, engages in developing and commercializing therapies for treating cystic fibrosis (CF). It markets TRIKAFTA/KAFTRIO for people with CF with at least one F508del mutation for 2 years of age or older; SYMDEKO/SYMKEVI for people with CF for 6 years of age or older; ORKAMBI for CF patients 1 year or older; and KALYDECO for the treatment of patients with 1 year or older who have CF with ivacaftor.