Vertex Pharmaceuticals (NASDAQ:VRTX) CMO Carmen Bozic Sells 1,020 Shares of Stock

Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) CMO Carmen Bozic sold 1,020 shares of the business’s stock in a transaction that occurred on Thursday, June 18th. The shares were sold at an average price of $462.17, for a total transaction of $471,413.40. Following the completion of the transaction, the chief marketing officer owned 15,933 shares of the company’s stock, valued at $7,363,754.61. The trade was a 6.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through 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 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

NASDAQ VRTX opened at $468.42 on Wednesday. The business has a fifty day moving average price of $439.76 and a two-hundred day moving average price of $453.60. The stock has a market capitalization of $118.89 billion, a PE ratio of 27.78, a PEG ratio of 2.00 and a beta of 0.30. Vertex Pharmaceuticals Incorporated has a fifty-two week low of $362.50 and a fifty-two week high of $507.92.

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

Hedge Funds Weigh In On Vertex Pharmaceuticals

Institutional investors and hedge funds have recently bought and sold shares of the company. Earned Wealth Advisors LLC boosted its holdings in shares of Vertex Pharmaceuticals by 3.3% during the fourth quarter. Earned Wealth Advisors LLC now owns 650 shares of the pharmaceutical company’s stock valued at $295,000 after acquiring an additional 21 shares during the period. Confluence Wealth Services Inc. lifted its position in Vertex Pharmaceuticals by 4.0% in the 4th quarter. Confluence Wealth Services Inc. now owns 545 shares of the pharmaceutical company’s stock valued at $247,000 after purchasing an additional 21 shares during the last quarter. Williams Jones Wealth Management LLC. boosted its stake in Vertex Pharmaceuticals by 1.9% during the 4th quarter. Williams Jones Wealth Management LLC. now owns 1,155 shares of the pharmaceutical company’s stock valued at $524,000 after purchasing an additional 21 shares during the period. Childress Capital Advisors LLC boosted its stake in Vertex Pharmaceuticals by 3.1% during the 4th quarter. Childress Capital Advisors LLC now owns 730 shares of the pharmaceutical company’s stock valued at $331,000 after purchasing an additional 22 shares during the period. Finally, Cannell & Spears LLC grew its position in Vertex Pharmaceuticals by 1.2% in the 1st quarter. Cannell & Spears LLC now owns 1,983 shares of the pharmaceutical company’s stock worth $885,000 after purchasing an additional 23 shares during the last quarter. Institutional investors and hedge funds own 90.96% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Wall Street Zen upgraded Vertex Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Saturday. Sanford C. Bernstein reduced their price target on shares of Vertex Pharmaceuticals from $577.00 to $572.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 5th. Morgan Stanley lifted their price target on shares of Vertex Pharmaceuticals from $612.00 to $616.00 and gave the company an “overweight” rating in a report on Tuesday, May 5th. Royal Bank Of Canada upped their price objective on shares of Vertex Pharmaceuticals from $541.00 to $543.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 5th. Finally, HC Wainwright increased their price objective on shares of Vertex Pharmaceuticals from $591.00 to $641.00 and gave the company a “buy” rating in a research note on Tuesday, March 10th. Twenty-two analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Vertex Pharmaceuticals 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.