Vertex Pharmaceuticals (NASDAQ:VRTX) CMO Carmen Bozic Sells 596 Shares of Stock

Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) CMO Carmen Bozic sold 596 shares of the business’s stock in a transaction that occurred on Friday, June 26th. The stock was sold at an average price of $482.50, for a total transaction of $287,570.00. Following the completion of the sale, the chief marketing officer directly owned 15,337 shares of the company’s stock, valued at $7,400,102.50. This represents a 3.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Carmen Bozic also recently made the following trade(s):

• On Thursday, June 18th, Carmen Bozic sold 1,020 shares of Vertex Pharmaceuticals stock. The shares were sold at an average price of $462.17, for a total transaction of $471,413.40.
• On Monday, June 15th, Carmen Bozic sold 4,062 shares of Vertex Pharmaceuticals stock. The shares were sold at an average price of $450.00, for a total transaction of $1,827,900.00.
• On Friday, June 5th, Carmen Bozic sold 1,745 shares of Vertex Pharmaceuticals stock. The stock was sold at an average price of $450.00, for a total transaction of $785,250.00.
• On Tuesday, May 12th, Carmen Bozic sold 6,988 shares of Vertex Pharmaceuticals stock. The stock was sold at an average price of $450.00, for a total transaction of $3,144,600.00.

Vertex Pharmaceuticals Price Performance

NASDAQ VRTX opened at $496.73 on Wednesday. Vertex Pharmaceuticals Incorporated has a fifty-two week low of $362.50 and a fifty-two week high of $507.92. The stock’s 50-day moving average is $444.56 and its two-hundred day moving average is $455.05. The firm has a market cap of $126.07 billion, a P/E ratio of 29.46, a price-to-earnings-growth ratio of 2.14 and a beta of 0.30.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings results on Monday, May 4th. The pharmaceutical company reported $4.47 earnings per share for the quarter, topping analysts’ consensus estimates of $4.24 by $0.23. The company had revenue of $2.99 billion during the quarter, compared to analysts’ expectations of $2.99 billion. Vertex Pharmaceuticals had a return on equity of 23.86% and a net margin of 35.51%.The business’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $4.06 earnings per share. On average, equities analysts expect that Vertex Pharmaceuticals Incorporated will post 17.02 EPS for the current year.

Wall Street Analyst Weigh In

VRTX has been the subject of a number of research analyst reports. Barclays boosted their target price on shares of Vertex Pharmaceuticals from $607.00 to $615.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 6th. HC Wainwright increased their price target on shares of Vertex Pharmaceuticals from $591.00 to $641.00 and gave the stock a “buy” rating in a research report on Tuesday, March 10th. Royal Bank Of Canada upped their price target on Vertex Pharmaceuticals from $541.00 to $543.00 and gave the company an “outperform” rating in a research report on Tuesday, May 5th. Bank of America increased their price target on Vertex Pharmaceuticals from $571.00 to $598.00 and gave the stock a “buy” rating in a research report on Tuesday, March 10th. Finally, Citigroup boosted their price objective on Vertex Pharmaceuticals from $575.00 to $585.00 and gave the stock a “buy” rating in a report on Tuesday, March 10th. Twenty-two investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $555.91.

Hedge Funds Weigh In On Vertex Pharmaceuticals

Several hedge funds have recently modified their holdings of VRTX. Motiv8 Investments LLC acquired a new position in Vertex Pharmaceuticals during the fourth quarter worth $26,000. Swiss RE Ltd. acquired a new stake in Vertex Pharmaceuticals during the 4th quarter worth approximately $28,000. Eagle Bay Advisors LLC bought a new position in Vertex Pharmaceuticals during the 4th quarter worth $29,000. IMG Wealth Management Inc. increased its position in Vertex Pharmaceuticals by 277.8% during the fourth quarter. IMG Wealth Management Inc. now owns 68 shares of the pharmaceutical company’s stock worth $31,000 after acquiring an additional 50 shares during the period. Finally, Ares Financial Consulting LLC acquired a new stake in Vertex Pharmaceuticals in the 4th quarter worth about $33,000. Institutional investors own 90.96% of the company’s stock.

About Vertex Pharmaceuticals

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.