Vertex Pharmaceuticals (NASDAQ:VRTX) CMO Carmen Bozic Sells 4,062 Shares

Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) CMO Carmen Bozic sold 4,062 shares of the business’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $450.00, for a total value of $1,827,900.00. Following the transaction, the chief marketing officer owned 16,953 shares of the company’s stock, valued at approximately $7,628,850. The trade was a 19.33% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Friday, June 5th, Carmen Bozic sold 1,745 shares of Vertex Pharmaceuticals stock. The stock was sold at an average price of $450.00, for a total value of $785,250.00.
• 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 value of $3,144,600.00.

Vertex Pharmaceuticals Trading Up 1.3%

Shares of NASDAQ VRTX traded up $5.82 during mid-day trading on Wednesday, reaching $458.99. The company had a trading volume of 1,523,826 shares, compared to its average volume of 1,372,838. The business’s 50-day moving average is $437.67 and its 200-day moving average is $452.82. The stock has a market cap of $116.49 billion, a price-to-earnings ratio of 27.22, a price-to-earnings-growth ratio of 1.93 and a beta of 0.30. Vertex Pharmaceuticals Incorporated has a 52 week low of $362.50 and a 52 week high of $507.92.

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

Institutional Trading of Vertex Pharmaceuticals

A number of hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in shares of Vertex Pharmaceuticals by 1.0% during the 3rd quarter. Vanguard Group Inc. now owns 24,216,865 shares of the pharmaceutical company’s stock worth $9,484,293,000 after purchasing an additional 243,088 shares during the last quarter. Capital Research Global Investors raised its holdings in Vertex Pharmaceuticals by 4.6% in the fourth quarter. Capital Research Global Investors now owns 17,316,344 shares of the pharmaceutical company’s stock worth $7,850,544,000 after purchasing an additional 763,063 shares in the last quarter. State Street Corp lifted its position in shares of Vertex Pharmaceuticals by 0.7% during the fourth quarter. State Street Corp now owns 11,689,539 shares of the pharmaceutical company’s stock valued at $5,299,569,000 after buying an additional 83,539 shares during the last quarter. Capital International Investors lifted its position in shares of Vertex Pharmaceuticals by 0.9% during the fourth quarter. Capital International Investors now owns 4,733,596 shares of the pharmaceutical company’s stock valued at $2,146,041,000 after buying an additional 44,537 shares during the last quarter. Finally, Alliancebernstein L.P. boosted its holdings in shares of Vertex Pharmaceuticals by 3.3% in the 3rd quarter. Alliancebernstein L.P. now owns 4,522,586 shares of the pharmaceutical company’s stock valued at $1,771,226,000 after buying an additional 144,266 shares in the last quarter. Hedge funds and other institutional investors own 90.96% of the company’s stock.

Analyst Ratings Changes

VRTX has been the subject of a number of research reports. Jefferies Financial Group assumed coverage on Vertex Pharmaceuticals in a report on Tuesday, March 10th. They issued a “buy” rating and a $580.00 price target for the company. Morgan Stanley lifted their target price on Vertex Pharmaceuticals from $612.00 to $616.00 and gave the company an “overweight” rating in a research report on Tuesday, May 5th. Maxim Group upgraded Vertex Pharmaceuticals from a “hold” rating to a “buy” rating and set a $575.00 target price for the company in a report on Wednesday, March 18th. Sanford C. Bernstein cut their price target on Vertex Pharmaceuticals from $577.00 to $572.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 5th. Finally, Oppenheimer lifted their price objective on Vertex Pharmaceuticals from $540.00 to $600.00 and gave the company an “outperform” rating in a report on Tuesday, March 10th. Twenty-two equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, Vertex Pharmaceuticals has an average rating of “Moderate Buy” and a consensus target price of $555.91.

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.