Insider Selling: Vertex Pharmaceuticals (NASDAQ:VRTX) EVP Sells 1,500 Shares of Stock

Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) EVP Ourania Tatsis sold 1,500 shares of the firm’s stock in a transaction dated Friday, February 13th. The stock was sold at an average price of $499.99, for a total transaction of $749,985.00. Following the completion of the transaction, the executive vice president directly owned 46,132 shares in the company, valued at approximately $23,065,538.68. This represents a 3.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Ourania Tatsis also recently made the following trade(s):

• On Wednesday, February 11th, Ourania Tatsis sold 466 shares of Vertex Pharmaceuticals stock. The shares were sold at an average price of $460.43, for a total transaction of $214,560.38.
• On Wednesday, January 7th, Ourania Tatsis sold 4,500 shares of Vertex Pharmaceuticals stock. The stock was sold at an average price of $474.99, for a total value of $2,137,455.00.

Vertex Pharmaceuticals Stock Down 1.5%

Shares of VRTX traded down $7.01 during midday trading on Wednesday, reaching $470.31. The company had a trading volume of 1,662,641 shares, compared to its average volume of 1,594,694. Vertex Pharmaceuticals Incorporated has a 1-year low of $362.50 and a 1-year high of $519.68. The firm has a 50 day simple moving average of $461.78 and a 200-day simple moving average of $427.53. The stock has a market cap of $119.33 billion, a PE ratio of 30.68 and a beta of 0.30.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its quarterly earnings data on Thursday, February 12th. The pharmaceutical company reported $5.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.05 by ($0.02). Vertex Pharmaceuticals had a return on equity of 24.30% and a net margin of 32.94%.The firm had revenue of $3.19 billion for the quarter, compared to analyst estimates of $3.18 billion. During the same quarter in the previous year, the business posted $3.98 earnings per share. Vertex Pharmaceuticals’s revenue for the quarter was up 9.5% on a year-over-year basis. As a group, sell-side analysts anticipate that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Motiv8 Investments LLC acquired a new position in Vertex Pharmaceuticals in the fourth quarter worth about $26,000. Access Investment Management LLC bought a new position in Vertex Pharmaceuticals during the second quarter worth $27,000. Swiss RE Ltd. bought a new stake in Vertex Pharmaceuticals during the fourth quarter valued at $28,000. Chesapeake Asset Management LLC raised its holdings in shares of Vertex Pharmaceuticals by 110.0% during the third quarter. Chesapeake Asset Management LLC now owns 63 shares of the pharmaceutical company’s stock worth $25,000 after purchasing an additional 33 shares during the period. Finally, Eagle Bay Advisors LLC bought a new position in shares of Vertex Pharmaceuticals in the 4th quarter worth about $29,000. 90.96% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on VRTX shares. Stifel Nicolaus increased their price target on shares of Vertex Pharmaceuticals from $445.00 to $466.00 and gave the stock a “hold” rating in a research note on Friday, February 13th. Evercore boosted their price target on Vertex Pharmaceuticals from $475.00 to $530.00 and gave the company an “outperform” rating in a research report on Friday, January 23rd. Wells Fargo & Company increased their price target on Vertex Pharmaceuticals from $460.00 to $515.00 and gave the stock an “overweight” rating in a report on Wednesday, December 10th. Morgan Stanley reissued an “overweight” rating and issued a $570.00 price target on shares of Vertex Pharmaceuticals in a report on Friday, February 13th. Finally, Scotiabank boosted their target price on shares of Vertex Pharmaceuticals from $495.00 to $558.00 and gave the stock an “outperform” rating in a research report on Friday, February 13th. Twenty-two equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $542.00.

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.