Vertex Pharmaceuticals Inc. (NASDAQ:VRTX) Director Joshua S. Boger sold 6,500 shares of the company’s stock in a transaction dated Wednesday, September 28th. The stock was sold at an average price of $88.15, for a total value of $572,975.00. Following the completion of the transaction, the director now directly owns 274,725 shares of the company’s stock, valued at approximately $24,217,008.75. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.
Shares of Vertex Pharmaceuticals Inc. (NASDAQ:VRTX) opened at 87.21 on Friday. The firm has a 50-day moving average price of $94.79 and a 200-day moving average price of $89.64. Vertex Pharmaceuticals Inc. has a 1-year low of $75.90 and a 1-year high of $134.71. The firm’s market capitalization is $21.61 billion.
Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings results on Wednesday, July 27th. The pharmaceutical company reported $0.24 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.21 by $0.03. The business earned $431.61 million during the quarter, compared to the consensus estimate of $428.08 million. Vertex Pharmaceuticals had a negative net margin of 17.77% and a negative return on equity of 12.34%. The firm’s quarterly revenue was up 159.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.54) EPS. On average, analysts forecast that Vertex Pharmaceuticals Inc. will post $0.93 EPS for the current fiscal year.
Several equities research analysts have commented on VRTX shares. Jefferies Group reiterated a “buy” rating and set a $107.00 price objective (up from $102.00) on shares of Vertex Pharmaceuticals in a research note on Sunday, July 31st. Vetr upgraded Vertex Pharmaceuticals from a “buy” rating to a “strong-buy” rating and set a $94.50 price objective for the company in a research note on Monday, June 27th. Morgan Stanley cut their price objective on Vertex Pharmaceuticals from $140.00 to $139.00 and set an “overweight” rating for the company in a research note on Thursday, July 28th. JMP Securities reiterated a “buy” rating on shares of Vertex Pharmaceuticals in a research note on Tuesday, August 16th. Finally, Piper Jaffray Cos. reiterated a “buy” rating on shares of Vertex Pharmaceuticals in a research note on Saturday, June 18th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $117.60.
Large investors have recently modified their holdings of the stock. Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in shares of Vertex Pharmaceuticals during the second quarter valued at approximately $859,000. Kentucky Retirement Systems purchased a new stake in shares of Vertex Pharmaceuticals during the second quarter valued at approximately $1,809,000. Northwestern Mutual Investment Management Company LLC increased its stake in shares of Vertex Pharmaceuticals by 0.3% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 9,435 shares of the pharmaceutical company’s stock valued at $812,000 after buying an additional 28 shares during the period. Mason Street Advisors LLC purchased a new stake in shares of Vertex Pharmaceuticals during the second quarter valued at approximately $2,866,000. Finally, Public Employees Retirement System of Ohio increased its stake in shares of Vertex Pharmaceuticals by 1.3% in the second quarter. Public Employees Retirement System of Ohio now owns 167,562 shares of the pharmaceutical company’s stock valued at $14,414,000 after buying an additional 2,160 shares during the period. Institutional investors and hedge funds own 96.19% of the company’s stock.
Vertex Pharmaceuticals Company Profile
Vertex Pharmaceuticals Incorporated is engaged in the business of discovering, developing, manufacturing and commercializing medicines for serious diseases. The Company operates in pharmaceuticals segment. Its business is focused on developing and commercializing therapies for the treatment of cystic fibrosis (CF) and advancing its research and development programs in other indications.
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