Vertex Pharmaceuticals (NASDAQ:VRTX) EVP Charles Wagner, Jr. Sells 14,000 Shares

Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) EVP Charles Wagner, Jr. sold 14,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 3rd. The shares were sold at an average price of $456.00, for a total value of $6,384,000.00. Following the sale, the executive vice president directly owned 37,725 shares of the company’s stock, valued at approximately $17,202,600. This represents a 27.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Vertex Pharmaceuticals Trading Down 0.4%

Shares of VRTX stock opened at $455.48 on Friday. The company has a market capitalization of $115.56 billion, a P/E ratio of 32.12 and a beta of 0.32. The business’s 50 day moving average is $422.14 and its two-hundred day moving average is $425.52. Vertex Pharmaceuticals Incorporated has a twelve month low of $362.50 and a twelve month high of $519.68.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings results on Monday, November 3rd. The pharmaceutical company reported $4.80 earnings per share for the quarter, topping the consensus estimate of $4.58 by $0.22. The firm had revenue of $3.08 billion during the quarter, compared to the consensus estimate of $3.05 billion. Vertex Pharmaceuticals had a return on equity of 23.51% and a net margin of 31.35%.The company’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same period last year, the company earned $4.38 earnings per share. As a group, equities analysts predict that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have recently weighed in on VRTX. Barclays lifted their target price on shares of Vertex Pharmaceuticals from $408.00 to $414.00 and gave the company an “equal weight” rating in a report on Tuesday, November 4th. Raymond James Financial began coverage on Vertex Pharmaceuticals in a report on Tuesday, September 2nd. They issued a “market perform” rating on the stock. UBS Group dropped their target price on Vertex Pharmaceuticals from $553.00 to $546.00 and set a “buy” rating on the stock in a research report on Friday, November 7th. Leerink Partnrs raised Vertex Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a report on Thursday, September 25th. Finally, Morgan Stanley set a $564.00 price objective on Vertex Pharmaceuticals in a report on Friday. Two analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $498.25.

Institutional Trading of Vertex Pharmaceuticals

Institutional investors have recently bought and sold shares of the company. United Services Automobile Association bought a new position in Vertex Pharmaceuticals during the first quarter valued at about $2,933,000. Lee Johnson Capital Management LLC bought a new stake in Vertex Pharmaceuticals in the second quarter worth about $721,000. Police & Firemen s Retirement System of New Jersey lifted its holdings in Vertex Pharmaceuticals by 3.7% in the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 39,035 shares of the pharmaceutical company’s stock valued at $17,378,000 after acquiring an additional 1,393 shares during the last quarter. Bailard Inc. lifted its holdings in Vertex Pharmaceuticals by 0.5% in the 2nd quarter. Bailard Inc. now owns 38,147 shares of the pharmaceutical company’s stock valued at $16,983,000 after acquiring an additional 200 shares during the last quarter. Finally, SteelPeak Wealth LLC bought a new position in shares of Vertex Pharmaceuticals during the 2nd quarter valued at about $10,059,000. 90.96% of the stock is currently owned by hedge funds and other institutional investors.

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.