Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) EVP Sells $241,187.83 in Stock

Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) EVP David Altshuler sold 1,223 shares of Vertex Pharmaceuticals stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $197.21, for a total value of $241,187.83. Following the completion of the sale, the executive vice president now directly owns 32,776 shares in the company, valued at approximately $6,463,754.96. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

David Altshuler also recently made the following trade(s):

  • On Monday, August 19th, David Altshuler sold 12,501 shares of Vertex Pharmaceuticals stock. The shares were sold at an average price of $186.38, for a total value of $2,329,936.38.

VRTX opened at $201.31 on Friday. The business has a fifty day moving average of $181.35 and a 200 day moving average of $176.85. Vertex Pharmaceuticals Incorporated has a 52-week low of $151.80 and a 52-week high of $202.94. The company has a quick ratio of 3.32, a current ratio of 3.44 and a debt-to-equity ratio of 0.12. The stock has a market cap of $50.69 billion, a P/E ratio of 71.13, a PEG ratio of 1.84 and a beta of 1.46.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly earnings data on Wednesday, October 30th. The pharmaceutical company reported $1.23 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.87 by $0.36. Vertex Pharmaceuticals had a return on equity of 20.33% and a net margin of 59.24%. The company had revenue of $949.83 million during the quarter, compared to analysts’ expectations of $942.90 million. During the same quarter in the previous year, the business earned $1.09 EPS. Vertex Pharmaceuticals’s revenue was up 21.1% compared to the same quarter last year. Equities analysts anticipate that Vertex Pharmaceuticals Incorporated will post 3.72 EPS for the current fiscal year.

Vertex Pharmaceuticals declared that its board has initiated a share buyback plan on Wednesday, July 31st that allows the company to buyback $500.00 million in shares. This buyback authorization allows the pharmaceutical company to buy up to 1.2% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

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Institutional investors and hedge funds have recently bought and sold shares of the stock. Next Capital Management LLC boosted its holdings in Vertex Pharmaceuticals by 84.4% during the 2nd quarter. Next Capital Management LLC now owns 166 shares of the pharmaceutical company’s stock valued at $30,000 after acquiring an additional 76 shares during the period. Evolution Wealth Advisors LLC purchased a new stake in shares of Vertex Pharmaceuticals in the 2nd quarter worth $32,000. Patriot Financial Group Insurance Agency LLC lifted its holdings in shares of Vertex Pharmaceuticals by 118.5% in the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 177 shares of the pharmaceutical company’s stock worth $32,000 after buying an additional 96 shares during the period. HM Payson & Co. purchased a new stake in shares of Vertex Pharmaceuticals in the 2nd quarter worth $35,000. Finally, Captrust Financial Advisors lifted its holdings in shares of Vertex Pharmaceuticals by 204.1% in the 2nd quarter. Captrust Financial Advisors now owns 222 shares of the pharmaceutical company’s stock worth $41,000 after buying an additional 149 shares during the period. Institutional investors own 94.59% of the company’s stock.

VRTX has been the topic of several analyst reports. Needham & Company LLC downgraded Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. They noted that the move was a valuation call. HC Wainwright reissued a “buy” rating and set a $220.00 target price on shares of Vertex Pharmaceuticals in a research report on Thursday, August 1st. Leerink Swann boosted their target price on Vertex Pharmaceuticals from $186.00 to $203.00 and gave the company a “market perform” rating in a research report on Tuesday, October 22nd. Morgan Stanley boosted their target price on Vertex Pharmaceuticals from $240.00 to $250.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. Finally, Bank of America initiated coverage on Vertex Pharmaceuticals in a research report on Wednesday, October 16th. They set a “buy” rating and a $220.00 target price on the stock. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and nineteen have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $216.12.

Vertex Pharmaceuticals Company Profile

Vertex Pharmaceuticals Incorporated engages in developing and commercializing therapies for treating cystic fibrosis. The company markets SYMDEKO/SYMKEVI, ORKAMBI, and KALYDECO to treat patients with cystic fibrosis who have specific mutations in their cystic fibrosis transmembrane conductance regulator gene.

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Insider Buying and Selling by Quarter for Vertex Pharmaceuticals (NASDAQ:VRTX)

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