Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Director Bruce I. Sachs Sells 5,295 Shares

Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Director Bruce I. Sachs sold 5,295 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $508.00, for a total transaction of $2,689,860.00. Following the transaction, the director now directly owns 40,000 shares of the company’s stock, valued at $20,320,000. The sale was disclosed in a document filed with the SEC, which is available through this link.

Vertex Pharmaceuticals Stock Down 2.2 %

Shares of NASDAQ VRTX traded down $11.32 during trading on Friday, reaching $494.46. 1,546,862 shares of the stock were exchanged, compared to its average volume of 1,211,094. The company has a market capitalization of $127.60 billion, a price-to-earnings ratio of 32.02 and a beta of 0.39. The business’s 50-day moving average price is $478.50 and its 200 day moving average price is $439.33. The company has a quick ratio of 3.29, a current ratio of 3.50 and a debt-to-equity ratio of 0.02. Vertex Pharmaceuticals Incorporated has a twelve month low of $340.20 and a twelve month high of $510.64.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings data on Monday, May 6th. The pharmaceutical company reported $4.76 EPS for the quarter, topping analysts’ consensus estimates of $3.66 by $1.10. Vertex Pharmaceuticals had a net margin of 39.46% and a return on equity of 23.08%. The firm had revenue of $2.69 billion for the quarter, compared to analyst estimates of $2.58 billion. During the same quarter in the previous year, the business posted $2.67 EPS. The firm’s revenue was up 13.3% compared to the same quarter last year. As a group, equities analysts forecast that Vertex Pharmaceuticals Incorporated will post -1.04 EPS for the current fiscal year.

Wall Street Analyst Weigh In

VRTX has been the subject of a number of analyst reports. BMO Capital Markets boosted their price target on Vertex Pharmaceuticals from $480.00 to $500.00 and gave the stock an “outperform” rating in a report on Friday, May 31st. Oppenheimer restated an “outperform” rating and issued a $500.00 target price on shares of Vertex Pharmaceuticals in a report on Monday, April 15th. StockNews.com downgraded shares of Vertex Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Friday, July 26th. Piper Sandler upped their price objective on shares of Vertex Pharmaceuticals from $500.00 to $535.00 and gave the company an “overweight” rating in a research note on Friday. Finally, Evercore ISI raised shares of Vertex Pharmaceuticals from an “in-line” rating to an “outperform” rating and set a $438.00 target price for the company in a research note on Thursday, April 11th. Three research analysts have rated the stock with a sell rating, six have given a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat.com, Vertex Pharmaceuticals has an average rating of “Moderate Buy” and a consensus target price of $468.65.

Institutional Trading of Vertex Pharmaceuticals

Hedge funds have recently made changes to their positions in the stock. Groesbeck Investment Management Corp NJ grew its position in Vertex Pharmaceuticals by 1.2% in the second quarter. Groesbeck Investment Management Corp NJ now owns 1,794 shares of the pharmaceutical company’s stock valued at $841,000 after acquiring an additional 21 shares during the period. Institute for Wealth Management LLC. raised its holdings in Vertex Pharmaceuticals by 0.6% during the 2nd quarter. Institute for Wealth Management LLC. now owns 3,586 shares of the pharmaceutical company’s stock worth $1,681,000 after buying an additional 22 shares during the period. Drive Wealth Management LLC grew its holdings in shares of Vertex Pharmaceuticals by 2.0% during the second quarter. Drive Wealth Management LLC now owns 1,101 shares of the pharmaceutical company’s stock worth $516,000 after buying an additional 22 shares in the last quarter. RFP Financial Group LLC boosted its position in Vertex Pharmaceuticals by 17.0% during the second quarter. RFP Financial Group LLC now owns 158 shares of the pharmaceutical company’s stock valued at $74,000 after purchasing an additional 23 shares during the last quarter. Finally, Nicholas Hoffman & Company LLC. raised its stake in Vertex Pharmaceuticals by 3.9% in the fourth quarter. Nicholas Hoffman & Company LLC. now owns 636 shares of the pharmaceutical company’s stock valued at $259,000 after buying an additional 24 shares during the period. Institutional investors and hedge funds own 90.96% of the company’s stock.

Vertex Pharmaceuticals Company Profile

Vertex Pharmaceuticals Incorporated, a biotechnology company, engages in developing and commercializing therapies for treating cystic fibrosis (CF). It markets TRIKAFTA/KAFTRIO for people with CF with at least one F508del mutation for 2 years of age or older; SYMDEKO/SYMKEVI for people with CF for 6 years of age or older; ORKAMBI for CF patients 1 year or older; and KALYDECO for the treatment of patients with 1 year or older who have CF with ivacaftor.