Insider Selling: Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) CMO Sells $1,086,990.00 in Stock

Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) CMO Carmen Bozic sold 2,280 shares of Vertex Pharmaceuticals stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $476.75, for a total transaction of $1,086,990.00. Following the sale, the chief marketing officer now owns 23,259 shares in the company, valued at approximately $11,088,728.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Wednesday, July 24th, Carmen Bozic sold 2,280 shares of Vertex Pharmaceuticals stock. The stock was sold at an average price of $488.46, for a total value of $1,113,688.80.
• On Wednesday, July 10th, Carmen Bozic sold 2,280 shares of Vertex Pharmaceuticals stock. The shares were sold at an average price of $487.34, for a total transaction of $1,111,135.20.
• On Wednesday, June 26th, Carmen Bozic sold 2,280 shares of Vertex Pharmaceuticals stock. The shares were sold at an average price of $471.72, for a total value of $1,075,521.60.
• On Wednesday, June 12th, Carmen Bozic sold 2,280 shares of Vertex Pharmaceuticals stock. The shares were sold at an average price of $478.00, for a total value of $1,089,840.00.
• On Wednesday, May 29th, Carmen Bozic sold 2,280 shares of Vertex Pharmaceuticals stock. The shares were sold at an average price of $445.56, for a total transaction of $1,015,876.80.

Vertex Pharmaceuticals Stock Up 0.5 %

Vertex Pharmaceuticals stock opened at $468.45 on Friday. The company has a current ratio of 2.52, a quick ratio of 2.26 and a debt-to-equity ratio of 0.02. The company has a market capitalization of $120.88 billion, a P/E ratio of 30.40 and a beta of 0.39. The firm’s fifty day simple moving average is $481.41 and its 200-day simple moving average is $440.96. Vertex Pharmaceuticals Incorporated has a 1-year low of $340.83 and a 1-year high of $510.64.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its earnings results on Thursday, August 1st. The pharmaceutical company reported ($12.83) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($12.54) by ($0.29). Vertex Pharmaceuticals had a negative return on equity of 2.45% and a negative net margin of 4.74%. The company had revenue of $2.65 billion for the quarter, compared to the consensus estimate of $2.66 billion. During the same period in the previous year, the company earned $3.53 EPS. The firm’s revenue for the quarter was up 6.1% compared to the same quarter last year. Sell-side analysts forecast that Vertex Pharmaceuticals Incorporated will post -1.02 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Guggenheim raised their price target on Vertex Pharmaceuticals from $450.00 to $558.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Barclays downgraded shares of Vertex Pharmaceuticals from an “overweight” rating to an “equal weight” rating and boosted their price target for the company from $472.00 to $509.00 in a report on Monday, August 5th. Royal Bank of Canada cut their price objective on shares of Vertex Pharmaceuticals from $424.00 to $421.00 and set a “sector perform” rating on the stock in a research report on Tuesday, June 11th. TD Cowen boosted their target price on shares of Vertex Pharmaceuticals from $450.00 to $500.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. Finally, Wells Fargo & Company lifted their price target on Vertex Pharmaceuticals from $540.00 to $555.00 and gave the company an “overweight” rating in a report on Monday, June 24th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat, Vertex Pharmaceuticals has a consensus rating of “Hold” and an average price target of $485.91.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Allworth Financial LP boosted its stake in Vertex Pharmaceuticals by 5.4% during the 4th quarter. Allworth Financial LP now owns 1,143 shares of the pharmaceutical company’s stock valued at $465,000 after purchasing an additional 59 shares during the period. Stratos Wealth Partners LTD. grew its position in Vertex Pharmaceuticals by 3.7% during the fourth quarter. Stratos Wealth Partners LTD. now owns 3,126 shares of the pharmaceutical company’s stock worth $1,272,000 after buying an additional 111 shares in the last quarter. Valley National Advisers Inc. increased its stake in Vertex Pharmaceuticals by 32.8% during the fourth quarter. Valley National Advisers Inc. now owns 174 shares of the pharmaceutical company’s stock valued at $70,000 after acquiring an additional 43 shares during the period. Strategic Blueprint LLC acquired a new position in Vertex Pharmaceuticals in the 4th quarter valued at approximately $267,000. Finally, International Assets Investment Management LLC lifted its position in shares of Vertex Pharmaceuticals by 21,750.1% in the 4th quarter. International Assets Investment Management LLC now owns 115,150 shares of the pharmaceutical company’s stock worth $46,853,000 after acquiring an additional 114,623 shares during the period. Institutional investors 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.