Vertex Pharmaceuticals Inc. (VRTX) EVP Stuart A. Arbuckle Sells 1,208 Shares of Stock
Vertex Pharmaceuticals Inc. (NASDAQ:VRTX) EVP Stuart A. Arbuckle sold 1,208 shares of the business’s stock in a transaction dated Monday, October 3rd. The stock was sold at an average price of $86.46, for a total value of $104,443.68. Following the sale, the executive vice president now owns 114,566 shares in the company, valued at approximately $9,905,376.36. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.
Vertex Pharmaceuticals Inc. (NASDAQ:VRTX) traded up 0.36% during midday trading on Friday, hitting $85.27. The stock had a trading volume of 177,842 shares. Vertex Pharmaceuticals Inc. has a 1-year low of $75.90 and a 1-year high of $134.71. The firm has a 50-day moving average price of $93.13 and a 200-day moving average price of $89.80. The firm’s market capitalization is $21.13 billion.
Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its earnings results on Wednesday, July 27th. The pharmaceutical company reported $0.24 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.21 by $0.03. Vertex Pharmaceuticals had a negative return on equity of 12.34% and a negative net margin of 17.77%. The business had revenue of $431.61 million for the quarter, compared to analyst estimates of $428.08 million. During the same quarter last year, the firm earned ($0.54) EPS. Vertex Pharmaceuticals’s revenue for the quarter was up 159.9% compared to the same quarter last year. On average, equities research analysts anticipate that Vertex Pharmaceuticals Inc. will post $0.89 earnings per share for the current year.
Large investors have recently made changes to their positions in the stock. Commonwealth Equity Services Inc raised its stake in shares of Vertex Pharmaceuticals by 23.7% in the first quarter. Commonwealth Equity Services Inc now owns 6,999 shares of the pharmaceutical company’s stock worth $556,000 after buying an additional 1,342 shares in the last quarter. Virginia Retirement System purchased a new stake in shares of Vertex Pharmaceuticals during the first quarter worth about $317,000. Pacad Investment Ltd. purchased a new stake in shares of Vertex Pharmaceuticals during the first quarter worth about $715,000. Ngam Advisors L.P. raised its stake in shares of Vertex Pharmaceuticals by 28.5% in the first quarter. Ngam Advisors L.P. now owns 64,855 shares of the pharmaceutical company’s stock worth $5,155,000 after buying an additional 14,372 shares in the last quarter. Finally, Prudential Financial Inc. raised its stake in shares of Vertex Pharmaceuticals by 59.9% in the first quarter. Prudential Financial Inc. now owns 496,217 shares of the pharmaceutical company’s stock worth $39,445,000 after buying an additional 185,800 shares in the last quarter. 96.19% of the stock is currently owned by institutional investors and hedge funds.
Several analysts have issued reports on the company. Zacks Investment Research downgraded Vertex Pharmaceuticals from a “hold” rating to a “strong sell” rating in a report on Tuesday, September 27th. Maxim Group restated a “hold” rating on shares of Vertex Pharmaceuticals in a report on Thursday, September 29th. Cowen and Company reiterated a “hold” rating on shares of Vertex Pharmaceuticals in a report on Thursday, July 28th. BMO Capital Markets reiterated a “hold” rating and issued a $87.00 target price on shares of Vertex Pharmaceuticals in a report on Thursday, September 15th. Finally, Stifel Nicolaus dropped their target price on Vertex Pharmaceuticals from $108.00 to $105.00 and set a “buy” rating on the stock in a report on Tuesday, August 16th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $117.60.
About Vertex Pharmaceuticals
Vertex Pharmaceuticals Incorporated is engaged in the business of discovering, developing, manufacturing and commercializing medicines for serious diseases. The Company operates in pharmaceuticals segment. Its business 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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