Vertex Pharmaceuticals (NASDAQ:VRTX) CAO Sells $633,551.68 in Stock

Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) CAO Kristen Ambrose sold 1,376 shares of the stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $460.43, for a total value of $633,551.68. Following the completion of the transaction, the chief accounting officer owned 10,127 shares of the company’s stock, valued at $4,662,774.61. The trade was a 11.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Vertex Pharmaceuticals Stock Up 0.8%

Shares of VRTX stock traded up $3.78 during trading hours on Thursday, hitting $465.02. 1,792,784 shares of the company’s stock traded hands, compared to its average volume of 1,541,375. The stock has a market cap of $117.98 billion, a PE ratio of 32.79 and a beta of 0.30. Vertex Pharmaceuticals Incorporated has a 12 month low of $362.50 and a 12 month high of $519.68. The stock’s 50 day simple moving average is $459.11 and its 200 day simple moving average is $427.29.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings data on Thursday, February 12th. The pharmaceutical company reported $5.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.05 by ($0.02). Vertex Pharmaceuticals had a return on equity of 23.51% and a net margin of 31.35%.The company had revenue of $3.19 billion for the quarter, compared to the consensus estimate of $3.18 billion. As a group, equities research analysts expect that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently commented on VRTX. Royal Bank Of Canada raised Vertex Pharmaceuticals from a “sector perform” rating to an “outperform” rating and raised their target price for the stock from $455.00 to $546.00 in a research note on Thursday, January 22nd. Wolfe Research raised shares of Vertex Pharmaceuticals from a “peer perform” rating to an “outperform” rating and set a $548.00 price target for the company in a research note on Tuesday, January 6th. Scotiabank initiated coverage on shares of Vertex Pharmaceuticals in a report on Thursday, November 13th. They set a “sector outperform” rating and a $495.00 price objective on the stock. Wells Fargo & Company raised their price objective on Vertex Pharmaceuticals from $460.00 to $515.00 and gave the company an “overweight” rating in a research note on Wednesday, December 10th. Finally, Weiss Ratings upgraded Vertex Pharmaceuticals from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, February 4th. One analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $522.68.

Institutional Investors Weigh In On Vertex Pharmaceuticals

Several institutional investors have recently made changes to their positions in the stock. Chesapeake Asset Management LLC raised its holdings in shares of Vertex Pharmaceuticals by 110.0% in the 3rd quarter. Chesapeake Asset Management LLC now owns 63 shares of the pharmaceutical company’s stock valued at $25,000 after acquiring an additional 33 shares in the last quarter. Access Investment Management LLC purchased a new stake in Vertex Pharmaceuticals in the second quarter valued at approximately $27,000. Colonial Trust Co SC lifted its position in Vertex Pharmaceuticals by 118.8% during the third quarter. Colonial Trust Co SC now owns 70 shares of the pharmaceutical company’s stock valued at $27,000 after purchasing an additional 38 shares during the last quarter. Swiss RE Ltd. purchased a new position in Vertex Pharmaceuticals in the 4th quarter worth approximately $28,000. Finally, Legacy Investment Solutions LLC purchased a new position in Vertex Pharmaceuticals in the 2nd quarter worth approximately $29,000. Hedge funds and other institutional investors own 90.96% of the company’s stock.

About Vertex Pharmaceuticals

Vertex Pharmaceuticals Inc is a Boston-based biotechnology company focused on the discovery, development and commercialization of therapies for serious diseases. Founded in 1989, Vertex built its reputation on research-driven drug development and is best known for its work in cystic fibrosis (CF), where its portfolio of small-molecule CFTR modulators transformed standards of care for many people with the disease. The company operates research and development, manufacturing and commercial organizations and serves patients and healthcare systems in multiple international markets.

Vertex’s marketed products center on CFTR modulators that target the underlying cause of cystic fibrosis rather than just treating symptoms.