Vertex Pharmaceuticals (NASDAQ:VRTX) CMO Sells $287,570.00 in Stock

Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) CMO Carmen Bozic sold 596 shares of the firm’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 value of $287,570.00. Following 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 sale was disclosed in a legal filing with the SEC, which is available through this link. 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 value of $471,413.40.
• On Monday, June 15th, Carmen Bozic sold 4,062 shares of Vertex Pharmaceuticals stock. The stock was 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 shares were 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 shares were sold at an average price of $450.00, for a total transaction of $3,144,600.00.

Vertex Pharmaceuticals Price Performance

Shares of VRTX stock opened at $528.04 on Friday. The company has a market capitalization of $134.02 billion, a P/E ratio of 31.32, a P/E/G ratio of 2.13 and a beta of 0.29. The company’s 50-day simple moving average is $447.57 and its two-hundred day simple moving average is $455.95. Vertex Pharmaceuticals Incorporated has a one year low of $362.50 and a one year high of $529.14.

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

Institutional Investors Weigh In On Vertex Pharmaceuticals

A number of hedge funds have recently made changes to their positions in VRTX. Earned Wealth Advisors LLC grew its stake in shares of Vertex Pharmaceuticals by 3.3% in the 4th quarter. Earned Wealth Advisors LLC now owns 650 shares of the pharmaceutical company’s stock worth $295,000 after buying an additional 21 shares during the last quarter. Confluence Wealth Services Inc. boosted its holdings in Vertex Pharmaceuticals by 4.0% in the fourth quarter. Confluence Wealth Services Inc. now owns 545 shares of the pharmaceutical company’s stock worth $247,000 after acquiring an additional 21 shares in the last quarter. Williams Jones Wealth Management LLC. boosted its holdings in Vertex Pharmaceuticals by 1.9% in the fourth quarter. Williams Jones Wealth Management LLC. now owns 1,155 shares of the pharmaceutical company’s stock worth $524,000 after acquiring an additional 21 shares in the last quarter. Childress Capital Advisors LLC grew its stake in shares of Vertex Pharmaceuticals by 3.1% in the fourth quarter. Childress Capital Advisors LLC now owns 730 shares of the pharmaceutical company’s stock worth $331,000 after acquiring an additional 22 shares during the last quarter. Finally, Cannell & Spears LLC increased its holdings in shares of Vertex Pharmaceuticals by 1.2% during the first quarter. Cannell & Spears LLC now owns 1,983 shares of the pharmaceutical company’s stock valued at $885,000 after acquiring an additional 23 shares in the last quarter. 90.96% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have weighed in on VRTX shares. Jefferies Financial Group assumed coverage on Vertex Pharmaceuticals in a report on Tuesday, March 10th. They issued a “buy” rating and a $580.00 target price for the company. Truist Financial assumed coverage on Vertex Pharmaceuticals in a report on Wednesday, May 27th. They issued a “buy” rating and a $542.00 price objective for the company. Citigroup upped their price objective on shares of Vertex Pharmaceuticals from $575.00 to $585.00 and gave the stock a “buy” rating in a research note on Tuesday, March 10th. HC Wainwright increased their target price on shares of Vertex Pharmaceuticals from $591.00 to $641.00 and gave the stock a “buy” rating in a report on Tuesday, March 10th. Finally, Weiss Ratings lowered shares of Vertex Pharmaceuticals from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday. Twenty-one investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $555.91.

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.