Carmen Bozic Sells 1,745 Shares of Vertex Pharmaceuticals (NASDAQ:VRTX) Stock

Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) CMO Carmen Bozic sold 1,745 shares of the business’s stock in a transaction on Friday, June 5th. The stock was sold at an average price of $450.00, for a total value of $785,250.00. Following the completion of the transaction, the chief marketing officer directly owned 21,015 shares of the company’s stock, valued at approximately $9,456,750. This trade represents a 7.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, 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 Tuesday, May 12th, Carmen Bozic sold 6,988 shares of Vertex Pharmaceuticals stock. The stock was sold at an average price of $450.00, for a total transaction of $3,144,600.00.
• On Friday, March 13th, Carmen Bozic sold 2,329 shares of Vertex Pharmaceuticals stock. The stock was sold at an average price of $481.79, for a total transaction of $1,122,088.91.

Vertex Pharmaceuticals Price Performance

VRTX stock traded up $2.81 during midday trading on Tuesday, hitting $445.77. The stock had a trading volume of 870,817 shares, compared to its average volume of 1,377,567. The firm has a market cap of $113.14 billion, a PE ratio of 26.44, a price-to-earnings-growth ratio of 1.91 and a beta of 0.30. Vertex Pharmaceuticals Incorporated has a 12-month low of $362.50 and a 12-month high of $507.92. The company’s 50-day moving average price is $437.12 and its 200 day moving average price is $451.98.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its earnings results on Monday, May 4th. The pharmaceutical company reported $4.47 EPS for the quarter, topping the consensus estimate of $4.24 by $0.23. The firm had revenue of $2.99 billion during the quarter, compared to analysts’ expectations of $2.99 billion. Vertex Pharmaceuticals had a net margin of 35.51% and a return on equity of 23.86%. Vertex Pharmaceuticals’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same period in the previous year, the company earned $4.06 EPS. As a group, sell-side analysts anticipate that Vertex Pharmaceuticals Incorporated will post 17.02 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Truist Financial assumed coverage on Vertex Pharmaceuticals in a research note on Wednesday, May 27th. They issued a “buy” rating and a $542.00 target price for the company. Maxim Group upgraded Vertex Pharmaceuticals from a “hold” rating to a “buy” rating and set a $575.00 target price for the company in a research note on Wednesday, March 18th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $590.00 target price on shares of Vertex Pharmaceuticals in a research note on Friday, February 13th. HC Wainwright upped their target price on Vertex Pharmaceuticals from $591.00 to $641.00 and gave the company a “buy” rating in a research note on Tuesday, March 10th. Finally, Scotiabank upped their target price on Vertex Pharmaceuticals from $495.00 to $558.00 and gave the company an “outperform” rating in a research note on Friday, February 13th. Twenty-two research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Vertex Pharmaceuticals currently has an average rating of “Moderate Buy” and an average price target of $555.91.

Institutional Investors Weigh In On Vertex Pharmaceuticals

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Earned Wealth Advisors LLC increased its stake in Vertex Pharmaceuticals by 3.3% during the fourth quarter. Earned Wealth Advisors LLC now owns 650 shares of the pharmaceutical company’s stock worth $295,000 after acquiring an additional 21 shares during the last quarter. Confluence Wealth Services Inc. increased its stake in Vertex Pharmaceuticals by 4.0% during 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 during the last quarter. Williams Jones Wealth Management LLC. increased its stake in Vertex Pharmaceuticals by 1.9% during 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 during the last quarter. Childress Capital Advisors LLC increased its stake in Vertex Pharmaceuticals by 3.1% during 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 stake in Vertex Pharmaceuticals by 1.2% during the first quarter. Cannell & Spears LLC now owns 1,983 shares of the pharmaceutical company’s stock worth $885,000 after acquiring an additional 23 shares during the last quarter. 90.96% of the stock is currently owned by institutional investors and hedge funds.

Vertex Pharmaceuticals Company Profile

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.