Vertex Pharmaceuticals (NASDAQ:VRTX) Chairman Jeffrey Leiden Sells 53,604 Shares

Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Chairman Jeffrey Leiden sold 53,604 shares of the business’s stock in a transaction dated Friday, November 14th. The shares were sold at an average price of $440.72, for a total value of $23,624,354.88. Following the completion of the sale, the chairman owned 24,026 shares in the company, valued at $10,588,738.72. This represents a 69.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

Vertex Pharmaceuticals Stock Down 0.7%

Shares of NASDAQ:VRTX opened at $434.02 on Tuesday. The firm has a market capitalization of $110.12 billion, a PE ratio of 31.02 and a beta of 0.36. The company has a 50-day moving average price of $408.82 and a two-hundred day moving average price of $426.27. Vertex Pharmaceuticals Incorporated has a twelve month low of $362.50 and a twelve month high of $519.68.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings results on Monday, November 3rd. The pharmaceutical company reported $4.80 EPS for the quarter, beating analysts’ consensus estimates of $4.58 by $0.22. The company had revenue of $3.08 billion for the quarter, compared to analysts’ expectations of $3.05 billion. Vertex Pharmaceuticals had a net margin of 31.86% and a return on equity of 23.91%. Vertex Pharmaceuticals’s revenue was up 11.0% compared to the same quarter last year. During the same period in the prior year, the company posted $4.38 EPS. Vertex Pharmaceuticals has set its FY 2025 guidance at EPS. Analysts anticipate that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Vertex Pharmaceuticals

Hedge funds have recently bought and sold shares of the stock. Activest Wealth Management bought a new position in shares of Vertex Pharmaceuticals in the 1st quarter worth $25,000. Clal Insurance Enterprises Holdings Ltd grew its position in Vertex Pharmaceuticals by 450.0% in the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 55 shares of the pharmaceutical company’s stock worth $27,000 after acquiring an additional 45 shares in the last quarter. Access Investment Management LLC bought a new position in Vertex Pharmaceuticals in the second quarter valued at $27,000. Chesapeake Asset Management LLC increased its stake in Vertex Pharmaceuticals by 110.0% in the third quarter. Chesapeake Asset Management LLC now owns 63 shares of the pharmaceutical company’s stock valued at $25,000 after acquiring an additional 33 shares during the last quarter. Finally, Flaharty Asset Management LLC purchased a new stake in Vertex Pharmaceuticals during the first quarter valued at about $32,000. 90.96% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on VRTX shares. UBS Group cut their price target on Vertex Pharmaceuticals from $553.00 to $546.00 and set a “buy” rating for the company in a report on Friday, November 7th. Leerink Partners upgraded Vertex Pharmaceuticals from a “market perform” rating to an “outperform” rating and cut their target price for the stock from $458.00 to $456.00 in a research note on Thursday, September 25th. Royal Bank Of Canada reduced their target price on Vertex Pharmaceuticals from $423.00 to $415.00 and set a “sector perform” rating for the company in a report on Tuesday, November 4th. HC Wainwright decreased their price target on Vertex Pharmaceuticals from $550.00 to $478.00 and set a “buy” rating on the stock in a research report on Tuesday, August 5th. Finally, Scotiabank initiated coverage on shares of Vertex Pharmaceuticals in a research report on Thursday, November 13th. They issued a “sector outperform” rating and a $495.00 price objective for the company. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and eleven have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $491.95.

About Vertex Pharmaceuticals

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.