Carmen Bozic Sells 1,745 Shares of Vertex Pharmaceuticals (NASDAQ:VRTX) Stock

Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) CMO Carmen Bozic sold 1,745 shares of the firm’s stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $450.00, for a total transaction of $785,250.00. Following the transaction, the chief marketing officer directly owned 21,015 shares in the company, valued at approximately $9,456,750. This trade represents a 7.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Carmen Bozic also recently made the following trade(s):

• On Tuesday, May 12th, Carmen Bozic sold 6,988 shares of Vertex Pharmaceuticals stock. The stock was sold at an average price of $450.00, for a total transaction of $3,144,600.00.
• On Friday, March 13th, Carmen Bozic sold 2,329 shares of Vertex Pharmaceuticals stock. The shares were sold at an average price of $481.79, for a total transaction of $1,122,088.91.

Vertex Pharmaceuticals Stock Performance

NASDAQ VRTX opened at $435.71 on Thursday. The firm’s 50 day moving average price is $437.22 and its 200-day moving average price is $452.25. Vertex Pharmaceuticals Incorporated has a 52-week low of $362.50 and a 52-week high of $507.92. The company has a market cap of $110.58 billion, a PE ratio of 25.84, a P/E/G ratio of 1.91 and a beta of 0.30.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its quarterly earnings data on Monday, May 4th. The pharmaceutical company reported $4.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.24 by $0.23. The firm had revenue of $2.99 billion for the quarter, compared to the consensus estimate of $2.99 billion. Vertex Pharmaceuticals had a net margin of 35.51% and a return on equity of 23.86%. The company’s quarterly revenue was up 8.3% on a year-over-year basis. During the same period last year, the firm earned $4.06 earnings per share. On average, analysts forecast that Vertex Pharmaceuticals Incorporated will post 17.02 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently issued reports on VRTX. Bank of America raised their target price on shares of Vertex Pharmaceuticals from $571.00 to $598.00 and gave the stock a “buy” rating in a report on Tuesday, March 10th. Royal Bank Of Canada raised their target price on shares of Vertex Pharmaceuticals from $541.00 to $543.00 and gave the stock an “outperform” rating in a report on Tuesday, May 5th. Jefferies Financial Group began coverage on shares of Vertex Pharmaceuticals in a report on Tuesday, March 10th. They set a “buy” rating and a $580.00 target price for the company. Truist Financial began coverage on shares of Vertex Pharmaceuticals in a report on Wednesday, May 27th. They set a “buy” rating and a $542.00 target price for the company. Finally, Sanford C. Bernstein reduced their target price on shares of Vertex Pharmaceuticals from $577.00 to $572.00 and set an “outperform” rating for the company in a report on Tuesday, May 5th. Twenty-two research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $555.91.

Institutional Trading of Vertex Pharmaceuticals

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Motiv8 Investments LLC acquired a new position in Vertex Pharmaceuticals during the fourth quarter worth about $26,000. Swiss RE Ltd. acquired a new position in Vertex Pharmaceuticals during the fourth quarter worth about $28,000. Eagle Bay Advisors LLC acquired a new position in Vertex Pharmaceuticals during the fourth quarter worth about $29,000. IMG Wealth Management Inc. boosted its position in Vertex Pharmaceuticals by 277.8% during the fourth quarter. IMG Wealth Management Inc. now owns 68 shares of the pharmaceutical company’s stock worth $31,000 after acquiring an additional 50 shares during the last quarter. Finally, Colonial Trust Co SC boosted 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 worth $27,000 after acquiring an additional 38 shares during the last quarter. 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.