Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) SVP Paul M. Silva sold 3,437 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $158.49, for a total transaction of $544,730.13. Following the sale, the senior vice president now directly owns 19,525 shares of the company’s stock, valued at approximately $3,094,517.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Vertex Pharmaceuticals Incorporated (NASDAQ VRTX) opened at $157.59 on Friday. Vertex Pharmaceuticals Incorporated has a 52 week low of $84.39 and a 52 week high of $174.96. The stock has a market cap of $39,850.00, a P/E ratio of 151.53, a price-to-earnings-growth ratio of 2.29 and a beta of 1.61. The company has a quick ratio of 3.14, a current ratio of 3.28 and a debt-to-equity ratio of 0.01.
Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings data on Wednesday, January 31st. The pharmaceutical company reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.53 by $0.08. Vertex Pharmaceuticals had a net margin of 10.59% and a return on equity of 11.02%. The firm had revenue of $651.63 million for the quarter, compared to analysts’ expectations of $592.49 million. During the same period last year, the firm earned $0.35 earnings per share. The business’s revenue for the quarter was up 42.1% on a year-over-year basis. equities research analysts predict that Vertex Pharmaceuticals Incorporated will post 1.67 EPS for the current year.
Vertex Pharmaceuticals declared that its Board of Directors has initiated a share repurchase plan on Wednesday, January 31st that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the pharmaceutical company to purchase shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.
A number of hedge funds have recently made changes to their positions in the business. Jennison Associates LLC boosted its stake in Vertex Pharmaceuticals by 19.0% in the third quarter. Jennison Associates LLC now owns 6,017,766 shares of the pharmaceutical company’s stock valued at $914,941,000 after acquiring an additional 962,644 shares during the last quarter. Renaissance Technologies LLC boosted its stake in Vertex Pharmaceuticals by 108.2% in the fourth quarter. Renaissance Technologies LLC now owns 2,847,917 shares of the pharmaceutical company’s stock valued at $426,789,000 after acquiring an additional 1,479,897 shares during the last quarter. Geode Capital Management LLC boosted its stake in Vertex Pharmaceuticals by 4.2% in the fourth quarter. Geode Capital Management LLC now owns 2,607,251 shares of the pharmaceutical company’s stock valued at $389,878,000 after acquiring an additional 105,683 shares during the last quarter. Wells Fargo & Company MN boosted its stake in Vertex Pharmaceuticals by 7.6% in the fourth quarter. Wells Fargo & Company MN now owns 2,127,092 shares of the pharmaceutical company’s stock valued at $318,765,000 after acquiring an additional 149,823 shares during the last quarter. Finally, Orbimed Advisors LLC boosted its stake in Vertex Pharmaceuticals by 2.4% in the third quarter. Orbimed Advisors LLC now owns 2,074,302 shares of the pharmaceutical company’s stock valued at $315,377,000 after acquiring an additional 47,800 shares during the last quarter. 94.10% of the stock is currently owned by hedge funds and other institutional investors.
Several analysts have recently weighed in on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $195.00 price objective on shares of Vertex Pharmaceuticals in a report on Friday, October 27th. Zacks Investment Research lowered shares of Vertex Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Tuesday. Jefferies Group reaffirmed a “buy” rating and set a $195.00 price objective on shares of Vertex Pharmaceuticals in a report on Thursday, February 1st. JMP Securities reaffirmed an “outperform” rating and set a $211.00 price objective (up previously from $200.00) on shares of Vertex Pharmaceuticals in a report on Tuesday, February 13th. Finally, HC Wainwright reaffirmed a “hold” rating and set a $103.00 price objective on shares of Vertex Pharmaceuticals in a report on Thursday, February 1st. Three research analysts have rated the stock with a sell rating, two have given a hold rating and twenty-five have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $183.11.
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About Vertex Pharmaceuticals
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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