Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) SVP Paul M. Silva Sells 860 Shares

Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) SVP Paul M. Silva sold 860 shares of the stock in a transaction on Monday, July 13th. The stock was sold at an average price of $292.03, for a total value of $251,145.80. Following the sale, the senior vice president now owns 15,792 shares in the company, valued at approximately $4,611,737.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Shares of NASDAQ:VRTX opened at $293.83 on Thursday. The stock’s 50-day moving average price is $283.38 and its 200-day moving average price is $252.28. Vertex Pharmaceuticals Incorporated has a 12-month low of $165.23 and a 12-month high of $306.08. The stock has a market capitalization of $76.18 billion, a P/E ratio of 52.38, a price-to-earnings-growth ratio of 1.41 and a beta of 0.94. The company has a current ratio of 3.54, a quick ratio of 3.42 and a debt-to-equity ratio of 0.08.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings data on Wednesday, April 29th. The pharmaceutical company reported $2.56 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.84 by $0.72. The firm had revenue of $1.52 billion for the quarter, compared to analysts’ expectations of $1.28 billion. Vertex Pharmaceuticals had a return on equity of 25.69% and a net margin of 31.35%. The company’s revenue for the quarter was up 76.8% compared to the same quarter last year. During the same period last year, the firm earned $1.14 earnings per share. As a group, research analysts predict that Vertex Pharmaceuticals Incorporated will post 7.35 EPS for the current year.

Several equities research analysts have issued reports on the company. BMO Capital Markets increased their target price on Vertex Pharmaceuticals from $279.00 to $283.00 and gave the stock an “outperform” rating in a research report on Thursday, April 30th. Stifel Nicolaus increased their target price on Vertex Pharmaceuticals from $275.00 to $285.00 and gave the stock a “buy” rating in a research report on Thursday, April 30th. Piper Sandler restated a “buy” rating and set a $300.00 target price on shares of Vertex Pharmaceuticals in a research report on Monday, April 27th. Cfra increased their price objective on Vertex Pharmaceuticals from $286.00 to $297.00 and gave the stock a “buy” rating in a research report on Thursday, April 30th. Finally, Oppenheimer increased their price objective on Vertex Pharmaceuticals from $265.00 to $305.00 and gave the stock an “outperform” rating in a research report on Thursday, April 30th. Ten investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company. Vertex Pharmaceuticals has a consensus rating of “Buy” and an average price target of $289.73.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Wedbush Securities Inc. grew its stake in shares of Vertex Pharmaceuticals by 1.6% in the second quarter. Wedbush Securities Inc. now owns 9,387 shares of the pharmaceutical company’s stock worth $2,725,000 after purchasing an additional 149 shares during the last quarter. Welch & Forbes LLC grew its stake in shares of Vertex Pharmaceuticals by 2.3% in the second quarter. Welch & Forbes LLC now owns 186,498 shares of the pharmaceutical company’s stock worth $54,143,000 after purchasing an additional 4,131 shares during the last quarter. Exchange Traded Concepts LLC grew its stake in shares of Vertex Pharmaceuticals by 154.8% in the second quarter. Exchange Traded Concepts LLC now owns 1,348 shares of the pharmaceutical company’s stock worth $391,000 after purchasing an additional 819 shares during the last quarter. Meridian Wealth Management LLC grew its stake in shares of Vertex Pharmaceuticals by 4.3% in the second quarter. Meridian Wealth Management LLC now owns 3,526 shares of the pharmaceutical company’s stock worth $1,023,000 after purchasing an additional 145 shares during the last quarter. Finally, First Citizens Bank & Trust Co. grew its stake in shares of Vertex Pharmaceuticals by 54.5% in the second quarter. First Citizens Bank & Trust Co. now owns 13,336 shares of the pharmaceutical company’s stock worth $3,872,000 after purchasing an additional 4,706 shares during the last quarter. 93.42% of the stock is currently owned by institutional investors.

About Vertex Pharmaceuticals

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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