Vertex Pharmaceuticals (NASDAQ:VRTX) EVP Sells $787,485.00 in Stock

Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) EVP Ourania Tatsis sold 1,500 shares of the firm’s stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $524.99, for a total transaction of $787,485.00. Following the sale, the executive vice president directly owned 45,321 shares of the company’s stock, valued at $23,793,071.79. This trade represents a 3.20% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Vertex Pharmaceuticals Stock Down 0.4%

Shares of NASDAQ VRTX opened at $496.50 on Friday. The firm has a market cap of $126.01 billion, a P/E ratio of 29.45, a PEG ratio of 2.13 and a beta of 0.29. Vertex Pharmaceuticals Incorporated has a twelve month low of $362.50 and a twelve month high of $533.67. The company has a 50 day moving average of $455.88 and a 200 day moving average of $458.14.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its earnings results on Monday, May 4th. The pharmaceutical company reported $4.47 EPS for the quarter, beating the consensus estimate of $4.24 by $0.23. The business had revenue of $2.99 billion for the quarter, compared to the consensus estimate of $2.99 billion. Vertex Pharmaceuticals had a return on equity of 23.86% and a net margin of 35.51%.The company’s revenue was up 8.3% compared to the same quarter last year. During the same period last year, the business posted $4.06 EPS. As a group, equities analysts expect that Vertex Pharmaceuticals Incorporated will post 17.06 earnings per share for the current fiscal year.

More Vertex Pharmaceuticals News

Here are the key news stories impacting Vertex Pharmaceuticals this week:

• Positive Sentiment: Vertex’s $10 billion acquisition of Crinetics could accelerate growth beyond cystic fibrosis by adding a marketed endocrine drug and a late-stage pipeline candidate. Vertex (VRTX) Is Buying Crinetics For $10 Billion And Entering Endocrinology
• Positive Sentiment: The FDA’s expanded approval for CASGEVY in children as young as 2 years old strengthens Vertex’s gene-therapy franchise and could widen the product’s commercial reach. Vertex (VRTX) is One of the Best QQQ Stocks to Invest in
• Neutral Sentiment: Some reports note that investors are balancing the growth potential of the Crinetics deal against integration risk and the size of the cash outlay. Vertex’s Crinetics Deal Balances Growth with Integration Risk
• Neutral Sentiment: Recent executive stock sales were disclosed under pre-arranged 10b5-1 plans, which may create headline noise but do not necessarily signal a change in fundamentals. Ourania Tatsis Sells 1,500 Shares of Vertex Pharmaceuticals (NASDAQ:VRTX) Stock
• Neutral Sentiment: Analyst coverage remains broadly supportive, with most firms maintaining Buy ratings and high price targets, though one recent downgrade to Hold adds a bit of caution. Citi Remains a Buy on Vertex Pharmaceuticals (VRTX)

Analyst Ratings Changes

Several research firms recently commented on VRTX. Barclays increased their price objective on Vertex Pharmaceuticals from $607.00 to $615.00 and gave the company an “overweight” rating in a research report on Wednesday, May 6th. Truist Financial initiated coverage on shares of Vertex Pharmaceuticals in a research note on Wednesday, May 27th. They set a “buy” rating and a $542.00 target price on the stock. Royal Bank Of Canada raised their price target on shares of Vertex Pharmaceuticals from $543.00 to $570.00 and gave the company an “outperform” rating in a report on Tuesday. Maxim Group upgraded shares of Vertex Pharmaceuticals from a “hold” rating to a “buy” rating and set a $575.00 price target for the company in a research note on Wednesday, March 18th. Finally, Sanford C. Bernstein decreased their price objective on shares of Vertex Pharmaceuticals from $577.00 to $572.00 and set an “outperform” rating for the company in a report on Tuesday, May 5th. Twenty-one analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $557.09.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Bangor Savings Bank boosted its position in Vertex Pharmaceuticals by 0.4% in the second quarter. Bangor Savings Bank now owns 4,470 shares of the pharmaceutical company’s stock worth $2,220,000 after purchasing an additional 20 shares during the last quarter. Earned Wealth Advisors LLC increased its position in shares of Vertex Pharmaceuticals by 3.3% during the 4th quarter. Earned Wealth Advisors LLC now owns 650 shares of the pharmaceutical company’s stock valued at $295,000 after purchasing an additional 21 shares during the last quarter. Confluence Wealth Services Inc. increased its position in shares of Vertex Pharmaceuticals by 4.0% during 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. Trust Point Inc. lifted its stake in shares of Vertex Pharmaceuticals by 2.7% in the 2nd quarter. Trust Point Inc. now owns 793 shares of the pharmaceutical company’s stock worth $394,000 after purchasing an additional 21 shares during the period. Finally, Williams Jones Wealth Management LLC. boosted its holdings in shares of 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 buying an additional 21 shares during the last quarter. Institutional investors own 90.96% of the company’s stock.

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.