Insider Selling: Vertex Pharmaceuticals (NASDAQ:VRTX) EVP Sells 668 Shares of Stock

Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) EVP Edward Morrow Atkinson III sold 668 shares of Vertex Pharmaceuticals stock in a transaction on Wednesday, February 25th. The shares were sold at an average price of $486.35, for a total value of $324,881.80. Following the sale, the executive vice president directly owned 18,432 shares of the company’s stock, valued at approximately $8,964,403.20. This trade represents a 3.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Edward Morrow Atkinson III also recently made the following trade(s):

• On Wednesday, February 11th, Edward Morrow Atkinson III sold 1,751 shares of Vertex Pharmaceuticals stock. The stock was sold at an average price of $460.43, for a total value of $806,212.93.

Vertex Pharmaceuticals Stock Down 0.6%

Shares of VRTX stock traded down $2.92 on Thursday, hitting $480.13. The stock had a trading volume of 1,305,189 shares, compared to its average volume of 1,523,726. Vertex Pharmaceuticals Incorporated has a one year low of $362.50 and a one year high of $519.68. The business has a 50 day moving average price of $465.08 and a 200 day moving average price of $430.79. The company has a market cap of $121.97 billion, a PE ratio of 31.32 and a beta of 0.30.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its earnings results on Thursday, February 12th. The pharmaceutical company reported $5.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.05 by ($0.02). Vertex Pharmaceuticals had a return on equity of 24.30% and a net margin of 32.94%.The business had revenue of $3.19 billion for the quarter, compared to the consensus estimate of $3.18 billion. During the same quarter in the previous year, the company earned $3.98 earnings per share. The firm’s revenue was up 9.5% on a year-over-year basis. Equities research analysts expect that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current year.

Analyst Upgrades and Downgrades

VRTX has been the topic of a number of recent analyst reports. Stifel Nicolaus upped their price target on Vertex Pharmaceuticals from $445.00 to $466.00 and gave the stock a “hold” rating in a research report on Friday, February 13th. Cantor Fitzgerald restated an “overweight” rating and set a $590.00 price objective on shares of Vertex Pharmaceuticals in a research note on Friday, February 13th. Wells Fargo & Company upped their target price on Vertex Pharmaceuticals from $460.00 to $515.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 10th. Oppenheimer raised shares of Vertex Pharmaceuticals from a “market perform” rating to an “outperform” rating and set a $540.00 price target on the stock in a report on Friday, February 13th. Finally, Barclays boosted their price target on shares of Vertex Pharmaceuticals from $606.00 to $607.00 and gave the stock an “overweight” rating in a report on Tuesday, February 17th. Twenty-two investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $542.00.

Hedge Funds Weigh In On Vertex Pharmaceuticals

Several hedge funds and other institutional investors have recently modified their holdings of the business. Chesapeake Asset Management LLC grew its stake in Vertex Pharmaceuticals by 110.0% during 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. Motiv8 Investments LLC purchased a new position in Vertex Pharmaceuticals during the 4th quarter valued at about $26,000. Access Investment Management LLC acquired a new position in shares of Vertex Pharmaceuticals in the second quarter valued at approximately $27,000. Colonial Trust Co SC increased its position in shares of Vertex Pharmaceuticals by 118.8% during the third quarter. Colonial Trust Co SC now owns 70 shares of the pharmaceutical company’s stock worth $27,000 after acquiring an additional 38 shares during the period. Finally, Swiss RE Ltd. purchased a new stake in Vertex Pharmaceuticals during the 4th quarter worth about $28,000. 90.96% of the stock is owned by hedge funds and other institutional investors.

More Vertex Pharmaceuticals News

Here are the key news stories impacting Vertex Pharmaceuticals this week:

• Positive Sentiment: Profile of CEO Reshma Kewalramani in TIME highlights strong leadership and continued R&D momentum, which can support investor confidence in Vertex’s long-term pipeline and strategy. Article Title
• Positive Sentiment: Market commentary noting Vertex’s relative performance vs. the Dow suggests the stock still has investor interest and can attract momentum buyers after pullbacks. Article Title
• Neutral Sentiment: General coverage in Nasdaq-100 roundup pieces points to continued attention from index investors and analysts — useful for liquidity and index-fund flows but not an immediate catalyst. Article Title
• Neutral Sentiment: Recent Q4 results (Feb 12) showed revenue growth (~9.5% y/y) but a tiny EPS miss ($5.03 vs. $5.05 consensus). Fundamentals remain strong, but the small miss tempers near-term upside until forward guidance or pipeline news arrives. (Earnings release/public filings)
• Negative Sentiment: Multiple insider sales by several senior execs on Feb 25 — including large disposals such as EVP Duncan McKechnie (4,910 shares; ~21.9% reduction) and several other EVPs/CAO — collectively amount to roughly $4.6M in disclosed sales. Clustered insider selling can trigger short-term selling pressure and signals profit-taking or personal liquidity needs rather than company weakness, but markets often interpret heavy insider sales as a negative near-term indicator. SEC Filing (example)

Vertex Pharmaceuticals Company Profile

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.