Vertex Pharmaceuticals (NASDAQ:VRTX) EVP Ourania Tatsis Sells 4,500 Shares

Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) EVP Ourania Tatsis sold 4,500 shares of the business’s stock in a transaction on Wednesday, January 7th. The stock was sold at an average price of $474.99, for a total value of $2,137,455.00. Following the completion of the transaction, the executive vice president directly owned 42,293 shares of the company’s stock, valued at approximately $20,088,752.07. The trade was a 9.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Vertex Pharmaceuticals Stock Performance

VRTX stock traded down $5.82 during trading on Friday, reaching $463.86. 1,693,039 shares of the company traded hands, compared to its average volume of 1,561,138. The business has a 50 day simple moving average of $442.73 and a 200 day simple moving average of $427.19. Vertex Pharmaceuticals Incorporated has a 12 month low of $362.50 and a 12 month high of $519.68. The company has a market capitalization of $117.69 billion, a price-to-earnings ratio of 32.71 and a beta of 0.31.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its quarterly earnings results on Monday, November 3rd. The pharmaceutical company reported $4.80 EPS for the quarter, beating the consensus estimate of $4.58 by $0.22. Vertex Pharmaceuticals had a net margin of 31.35% and a return on equity of 23.51%. The business had revenue of $3.08 billion during the quarter, compared to analyst estimates of $3.05 billion. During the same period in the prior year, the firm posted $4.38 earnings per share. The company’s quarterly revenue was up 11.0% on a year-over-year basis. As a group, research analysts forecast that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on VRTX. UBS Group initiated coverage on Vertex Pharmaceuticals in a research report on Tuesday. They set a “buy” rating and a $535.00 price target on the stock. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Vertex Pharmaceuticals in a research report on Wednesday, October 8th. JPMorgan Chase & Co. increased their price target on Vertex Pharmaceuticals from $517.00 to $530.00 and gave the company an “overweight” rating in a research note on Wednesday, October 8th. Evercore ISI dropped their price target on Vertex Pharmaceuticals from $510.00 to $475.00 and set an “outperform” rating on the stock in a research note on Thursday, September 11th. Finally, Royal Bank Of Canada decreased their price objective on shares of Vertex Pharmaceuticals from $423.00 to $415.00 and set a “sector perform” rating for the company in a research report on Tuesday, November 4th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat, Vertex Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus price target of $503.80.

Institutional Trading of Vertex Pharmaceuticals

Several institutional investors and hedge funds have recently bought and sold shares of the business. Lee Johnson Capital Management LLC acquired a new stake in shares of Vertex Pharmaceuticals in the second quarter valued at about $721,000. Police & Firemen s Retirement System of New Jersey grew its stake in Vertex Pharmaceuticals by 3.7% during the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 39,035 shares of the pharmaceutical company’s stock valued at $17,378,000 after acquiring an additional 1,393 shares in the last quarter. Bailard Inc. raised its holdings in Vertex Pharmaceuticals by 0.5% in the 2nd quarter. Bailard Inc. now owns 38,147 shares of the pharmaceutical company’s stock valued at $16,983,000 after acquiring an additional 200 shares during the last quarter. SteelPeak Wealth LLC purchased a new position in Vertex Pharmaceuticals in the 2nd quarter worth approximately $10,059,000. Finally, Moody Lynn & Lieberson LLC lifted its stake in Vertex Pharmaceuticals by 1.4% in the 2nd quarter. Moody Lynn & Lieberson LLC now owns 58,077 shares of the pharmaceutical company’s stock worth $25,856,000 after purchasing an additional 822 shares in the last quarter. 90.96% of the stock is currently owned by institutional investors and hedge funds.

Vertex Pharmaceuticals Company Profile

Vertex Pharmaceuticals Inc is a Boston-based biotechnology company focused on the discovery, development and commercialization of therapies for serious diseases. Founded in 1989, Vertex built its reputation on research-driven drug development and is best known for its work in cystic fibrosis (CF), where its portfolio of small-molecule CFTR modulators transformed standards of care for many people with the disease. The company operates research and development, manufacturing and commercial organizations and serves patients and healthcare systems in multiple international markets.

Vertex’s marketed products center on CFTR modulators that target the underlying cause of cystic fibrosis rather than just treating symptoms.