Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) EVP Michael Parini sold 2,125 shares of the stock in a transaction that occurred on Thursday, October 12th. The stock was sold at an average price of $152.93, for a total value of $324,976.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Michael Parini also recently made the following trade(s):
- On Thursday, August 3rd, Michael Parini sold 2,330 shares of Vertex Pharmaceuticals stock. The stock was sold at an average price of $155.72, for a total value of $362,827.60.
- On Wednesday, July 19th, Michael Parini sold 10,829 shares of Vertex Pharmaceuticals stock. The stock was sold at an average price of $161.00, for a total value of $1,743,469.00.
Shares of Vertex Pharmaceuticals Incorporated (NASDAQ VRTX) opened at 150.11 on Friday. The company’s 50-day moving average price is $153.41 and its 200 day moving average price is $138.57. The company has a market cap of $37.85 billion, a price-to-earnings ratio of 144.20 and a beta of 1.73. Vertex Pharmaceuticals Incorporated has a 1-year low of $71.46 and a 1-year high of $167.86.
Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings results on Wednesday, October 25th. The pharmaceutical company reported $0.53 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.04 by $0.49. Vertex Pharmaceuticals had a return on equity of 9.23% and a net margin of 8.53%. The business had revenue of $578.20 million during the quarter, compared to analyst estimates of $522.07 million. During the same quarter in the prior year, the business posted $0.16 EPS. Vertex Pharmaceuticals’s revenue for the quarter was up 39.7% compared to the same quarter last year. On average, analysts predict that Vertex Pharmaceuticals Incorporated will post $1.63 earnings per share for the current fiscal year.
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Hedge funds have recently modified their holdings of the business. Northwestern Mutual Wealth Management Co. increased its stake in Vertex Pharmaceuticals by 15.4% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 988 shares of the pharmaceutical company’s stock worth $127,000 after buying an additional 132 shares in the last quarter. FNY Partners Fund LP increased its stake in Vertex Pharmaceuticals by 900.0% in the 2nd quarter. FNY Partners Fund LP now owns 1,000 shares of the pharmaceutical company’s stock worth $128,000 after buying an additional 900 shares in the last quarter. Intact Investment Management Inc. purchased a new stake in Vertex Pharmaceuticals in the 3rd quarter worth $213,000. Dupont Capital Management Corp purchased a new stake in Vertex Pharmaceuticals in the 2nd quarter worth $186,000. Finally, State of Alaska Department of Revenue purchased a new stake in Vertex Pharmaceuticals in the 2nd quarter worth $197,000. Institutional investors and hedge funds own 92.93% of the company’s stock.
Several research analysts have issued reports on VRTX shares. Vetr upgraded Vertex Pharmaceuticals from a “strong sell” rating to a “strong-buy” rating and set a $156.00 price target on the stock in a report on Tuesday, July 18th. Maxim Group restated a “buy” rating and issued a $195.00 target price on shares of Vertex Pharmaceuticals in a report on Thursday. Royal Bank Of Canada initiated coverage on Vertex Pharmaceuticals in a report on Thursday, September 14th. They issued an “outperform” rating and a $175.00 target price on the stock. Jefferies Group LLC restated a “buy” rating and issued a $185.00 target price (up previously from $155.00) on shares of Vertex Pharmaceuticals in a report on Wednesday, July 19th. Finally, Credit Suisse Group raised their target price on Vertex Pharmaceuticals from $125.00 to $195.00 and gave the company an “outperform” rating in a report on Wednesday, July 19th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and twenty-three have given a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $169.74.
Vertex Pharmaceuticals Company Profile
Vertex Pharmaceuticals Incorporated is engaged in discovering, developing, manufacturing and commercializing medicines for serious diseases. The Company is focused on developing and commercializing therapies for the treatment of cystic fibrosis (CF) and advancing its research and development programs in other indications.
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