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

Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) CMO Carmen Bozic sold 1,745 shares of the company’s stock in a transaction that occurred 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 transaction, the chief marketing officer owned 21,015 shares in the company, valued at $9,456,750. This trade represents a 7.67% decrease in their position. The transaction was disclosed in a document filed with the SEC, 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 value 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 value of $1,122,088.91.

Vertex Pharmaceuticals Stock Up 0.6%

Vertex Pharmaceuticals stock opened at $445.77 on Wednesday. The company has a market capitalization of $113.14 billion, a P/E ratio of 26.44, a PEG ratio of 1.89 and a beta of 0.30. The stock’s 50 day moving average is $437.37 and its 200 day moving average is $452.16. Vertex Pharmaceuticals Incorporated has a twelve month low of $362.50 and a twelve month high of $507.92.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly earnings results on Monday, May 4th. The pharmaceutical company reported $4.47 earnings per share for the quarter, topping the consensus estimate of $4.24 by $0.23. The company 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 firm’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $4.06 EPS. As a group, equities analysts expect that Vertex Pharmaceuticals Incorporated will post 17.02 EPS for the current year.

Institutional Trading of Vertex Pharmaceuticals

Institutional investors have recently added to or reduced their stakes in the business. Motiv8 Investments LLC purchased a new stake in Vertex Pharmaceuticals during the 4th quarter valued at $26,000. Colonial Trust Co SC boosted its stake in Vertex Pharmaceuticals by 118.8% during the 3rd quarter. Colonial Trust Co SC now owns 70 shares of the pharmaceutical company’s stock valued at $27,000 after purchasing an additional 38 shares during the last quarter. Swiss RE Ltd. purchased a new stake in Vertex Pharmaceuticals during the 4th quarter valued at $28,000. Eagle Bay Advisors LLC purchased a new stake in Vertex Pharmaceuticals during the 4th quarter valued at $29,000. Finally, IMG Wealth Management Inc. boosted its stake in Vertex Pharmaceuticals by 277.8% during the 4th quarter. IMG Wealth Management Inc. now owns 68 shares of the pharmaceutical company’s stock valued at $31,000 after purchasing an additional 50 shares during the last quarter. 90.96% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently weighed in on VRTX shares. Maxim Group upgraded Vertex Pharmaceuticals from a “hold” rating to a “buy” rating and set a $575.00 price target on the stock in a research note on Wednesday, March 18th. Scotiabank upped their price target on Vertex Pharmaceuticals from $495.00 to $558.00 and gave the stock an “outperform” rating in a research note on Friday, February 13th. Oppenheimer upped their price target on Vertex Pharmaceuticals from $540.00 to $600.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 10th. Bank of America upped their price target on Vertex Pharmaceuticals from $571.00 to $598.00 and gave the stock a “buy” rating in a research note on Tuesday, March 10th. Finally, Sanford C. Bernstein cut their price target on Vertex Pharmaceuticals from $577.00 to $572.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 5th. Twenty-two investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, Vertex Pharmaceuticals has a consensus rating of “Moderate Buy” and an average price target of $555.91.

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.