Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) EVP Michael Parini sold 12,136 shares of the business’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $153.41, for a total transaction of $1,861,783.76. Following the completion of the transaction, the executive vice president now directly owns 74,652 shares of the company’s stock, valued at $11,452,363.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Shares of Vertex Pharmaceuticals Incorporated (NASDAQ VRTX) traded up $3.12 during trading hours on Wednesday, reaching $157.26. 1,901,860 shares of the company’s stock traded hands, compared to its average volume of 2,090,000. Vertex Pharmaceuticals Incorporated has a 1 year low of $84.39 and a 1 year high of $174.96. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.79 and a quick ratio of 4.58. The company has a market capitalization of $39,770.00, a P/E ratio of 80.65, a PEG ratio of 2.21 and a beta of 1.61.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its earnings results on Wednesday, January 31st. The pharmaceutical company reported $0.61 EPS for the quarter, beating the Thomson Reuters’ consensus estimate 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 during the quarter, compared to the consensus estimate of $592.49 million. During the same quarter in the prior year, the firm earned $0.35 earnings per share. The business’s quarterly revenue was up 42.1% on a year-over-year basis. equities analysts forecast that Vertex Pharmaceuticals Incorporated will post 1.63 earnings per share for the current year.

Vertex Pharmaceuticals announced that its Board of Directors has approved a stock buyback plan on Wednesday, January 31st that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the pharmaceutical company to reacquire shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.

A number of equities analysts have weighed in on the stock. JMP Securities reaffirmed an “outperform” rating and issued a $211.00 target price (up from $200.00) on shares of Vertex Pharmaceuticals in a research note on Tuesday. Credit Suisse Group boosted their target price on shares of Vertex Pharmaceuticals from $195.00 to $196.00 and gave the stock an “outperform” rating in a research note on Tuesday. HC Wainwright reaffirmed a “hold” rating and issued a $103.00 target price on shares of Vertex Pharmaceuticals in a research note on Tuesday. Zacks Investment Research raised shares of Vertex Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Saturday. Finally, Morgan Stanley boosted their target price on shares of Vertex Pharmaceuticals from $198.00 to $200.00 and gave the stock an “overweight” rating in a research note on Friday, February 2nd. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and twenty-five have issued a buy rating to the company’s stock. Vertex Pharmaceuticals has an average rating of “Buy” and an average price target of $183.11.

A number of large investors have recently modified their holdings of the business. Verition Fund Management LLC increased its stake in Vertex Pharmaceuticals by 8.4% in the second quarter. Verition Fund Management LLC now owns 3,693 shares of the pharmaceutical company’s stock valued at $476,000 after purchasing an additional 287 shares in the last quarter. Grandfield & Dodd LLC increased its stake in Vertex Pharmaceuticals by 5.9% in the third quarter. Grandfield & Dodd LLC now owns 6,145 shares of the pharmaceutical company’s stock valued at $934,000 after purchasing an additional 340 shares in the last quarter. First Republic Investment Management Inc. increased its stake in Vertex Pharmaceuticals by 2.8% in the third quarter. First Republic Investment Management Inc. now owns 12,643 shares of the pharmaceutical company’s stock valued at $1,922,000 after purchasing an additional 346 shares in the last quarter. Atria Investments LLC increased its stake in Vertex Pharmaceuticals by 7.9% in the fourth quarter. Atria Investments LLC now owns 4,765 shares of the pharmaceutical company’s stock valued at $714,000 after purchasing an additional 350 shares in the last quarter. Finally, Advantus Capital Management Inc increased its stake in Vertex Pharmaceuticals by 1.5% in the third quarter. Advantus Capital Management Inc now owns 25,555 shares of the pharmaceutical company’s stock valued at $3,885,000 after purchasing an additional 369 shares in the last quarter. 92.84% of the stock is owned by hedge funds and other institutional investors.

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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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