Sangeeta N. Bhatia Sells 646 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Stock

Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Director Sangeeta N. Bhatia sold 646 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $500.00, for a total value of $323,000.00. Following the completion of the sale, the director now owns 4,435 shares of the company’s stock, valued at approximately $2,217,500. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Vertex Pharmaceuticals Trading Down 2.1 %

NASDAQ VRTX opened at $468.57 on Friday. The stock’s fifty day moving average price is $483.32 and its 200-day moving average price is $448.06. The company has a current ratio of 2.52, a quick ratio of 2.26 and a debt-to-equity ratio of 0.02. The stock has a market cap of $120.94 billion, a P/E ratio of 30.41 and a beta of 0.40. Vertex Pharmaceuticals Incorporated has a 12 month low of $340.83 and a 12 month high of $510.64.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its quarterly earnings data on Thursday, August 1st. The pharmaceutical company reported ($12.83) earnings per share for the quarter, missing analysts’ consensus estimates of ($12.54) by ($0.29). The firm had revenue of $2.65 billion for the quarter, compared to the consensus estimate of $2.66 billion. Vertex Pharmaceuticals had a negative net margin of 4.74% and a negative return on equity of 2.45%. The firm’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.53 earnings per share. As a group, equities analysts forecast that Vertex Pharmaceuticals Incorporated will post -1.85 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on VRTX shares. Argus upped their price target on shares of Vertex Pharmaceuticals from $465.00 to $550.00 and gave the company a “buy” rating in a report on Monday, June 17th. Redburn Atlantic started coverage on shares of Vertex Pharmaceuticals in a report on Thursday, June 27th. They set a “buy” rating and a $545.00 target price for the company. Morgan Stanley boosted their price target on Vertex Pharmaceuticals from $402.00 to $455.00 and gave the company an “equal weight” rating in a report on Thursday, July 11th. JPMorgan Chase & Co. increased their price objective on Vertex Pharmaceuticals from $505.00 to $510.00 and gave the stock an “overweight” rating in a report on Monday, August 5th. Finally, Wells Fargo & Company boosted their target price on Vertex Pharmaceuticals from $540.00 to $555.00 and gave the company an “overweight” rating in a research note on Monday, June 24th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $485.91.

Hedge Funds Weigh In On Vertex Pharmaceuticals

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Fisher Asset Management LLC lifted its holdings in shares of Vertex Pharmaceuticals by 0.4% during the fourth quarter. Fisher Asset Management LLC now owns 26,454 shares of the pharmaceutical company’s stock valued at $10,764,000 after purchasing an additional 108 shares in the last quarter. Aveo Capital Partners LLC boosted its holdings in shares of Vertex Pharmaceuticals by 77.3% during the 4th quarter. Aveo Capital Partners LLC now owns 1,076 shares of the pharmaceutical company’s stock valued at $438,000 after acquiring an additional 469 shares during the last quarter. U.S. Capital Wealth Advisors LLC grew its stake in shares of Vertex Pharmaceuticals by 82.3% in the fourth quarter. U.S. Capital Wealth Advisors LLC now owns 1,524 shares of the pharmaceutical company’s stock worth $620,000 after acquiring an additional 688 shares during the period. Sheets Smith Wealth Management purchased a new position in shares of Vertex Pharmaceuticals during the fourth quarter valued at approximately $295,000. Finally, Lincoln National Corp raised its holdings in shares of Vertex Pharmaceuticals by 53.0% during the fourth quarter. Lincoln National Corp now owns 2,060 shares of the pharmaceutical company’s stock valued at $838,000 after purchasing an additional 714 shares during the last quarter. 90.96% of the stock is owned by institutional investors.

Vertex Pharmaceuticals Company Profile

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.