Traders sold shares of Vertex Pharmaceuticals Inc. (NASDAQ:VRTX) on strength during trading hours on Monday following insider selling activity. $34.96 million flowed into the stock on the tick-up and $46.17 million flowed out of the stock on the tick-down, for a money net flow of $11.21 million out of the stock. Of all stocks tracked, Vertex Pharmaceuticals had the 0th highest net out-flow for the day. Vertex Pharmaceuticals traded up $1.27 for the day and closed at $80.50Specifically, EVP Stuart A. Arbuckle sold 1,208 shares of the business’s stock in a transaction that occurred on Monday, October 3rd. The stock was sold at an average price of $86.46, for a total value of $104,443.68. Following the transaction, the executive vice president now owns 114,566 shares in the company, valued at approximately $9,905,376.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Joshua S. Boger sold 6,500 shares of the business’s stock in a transaction that occurred on Wednesday, October 12th. The stock was sold at an average price of $81.14, for a total value of $527,410.00. Following the completion of the transaction, the director now owns 274,725 shares in the company, valued at approximately $22,291,186.50. The disclosure for this sale can be found here. Company insiders own 1.90% of the company’s stock.
A number of research firms recently commented on VRTX. Zacks Investment Research cut shares of Vertex Pharmaceuticals from a “hold” rating to a “strong sell” rating in a report on Tuesday, September 27th. Maxim Group reaffirmed a “hold” rating on shares of Vertex Pharmaceuticals in a report on Thursday, September 29th. Cowen and Company reaffirmed a “hold” rating on shares of Vertex Pharmaceuticals in a report on Thursday, July 28th. BMO Capital Markets reaffirmed a “hold” rating and issued a $87.00 price target on shares of Vertex Pharmaceuticals in a report on Thursday, September 15th. Finally, Stifel Nicolaus lowered their price target on shares of Vertex Pharmaceuticals from $108.00 to $105.00 and set a “buy” rating on the stock in a report on Tuesday, August 16th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Vertex Pharmaceuticals has an average rating of “Buy” and a consensus price target of $117.60.
The company’s market cap is $19.95 billion. The company has a 50-day moving average of $89.83 and a 200-day moving average of $89.91.
Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings results on Wednesday, July 27th. The pharmaceutical company reported $0.24 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.21 by $0.03. Vertex Pharmaceuticals had a negative return on equity of 12.34% and a negative net margin of 17.77%. The business earned $431.61 million during the quarter, compared to analyst estimates of $428.08 million. During the same quarter in the prior year, the business posted ($0.54) EPS. Vertex Pharmaceuticals’s revenue for the quarter was up 159.9% compared to the same quarter last year. Analysts expect that Vertex Pharmaceuticals Inc. will post $0.89 EPS for the current year.
A number of large investors have recently modified their holdings of VRTX. Virginia Retirement System acquired a new stake in shares of Vertex Pharmaceuticals during the first quarter worth about $317,000. Aviva PLC raised its stake in shares of Vertex Pharmaceuticals by 1.1% in the first quarter. Aviva PLC now owns 135,620 shares of the pharmaceutical company’s stock worth $10,780,000 after buying an additional 1,456 shares during the last quarter. Credit Agricole S A raised its stake in shares of Vertex Pharmaceuticals by 2.2% in the first quarter. Credit Agricole S A now owns 40,548 shares of the pharmaceutical company’s stock worth $3,222,000 after buying an additional 857 shares during the last quarter. Canada Pension Plan Investment Board raised its stake in shares of Vertex Pharmaceuticals by 89.5% in the first quarter. Canada Pension Plan Investment Board now owns 201,733 shares of the pharmaceutical company’s stock worth $16,036,000 after buying an additional 95,300 shares during the last quarter. Finally, BB&T Securities LLC raised its stake in shares of Vertex Pharmaceuticals by 11.0% in the first quarter. BB&T Securities LLC now owns 5,960 shares of the pharmaceutical company’s stock worth $473,000 after buying an additional 591 shares during the last quarter. Institutional investors and hedge funds own 96.17% of the company’s stock.
About Vertex Pharmaceuticals
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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