Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) CFO Charles F. Wagner, Jr. Sells 2,666 Shares of Stock

Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX – Get Rating) CFO Charles F. Wagner, Jr. sold 2,666 shares of the stock in a transaction that occurred on Monday, March 13th. The stock was sold at an average price of $293.83, for a total value of $783,350.78. Following the completion of the transaction, the chief financial officer now directly owns 53,379 shares of the company’s stock, valued at $15,684,351.57. The sale was disclosed in a filing with the SEC, which is available through this link.

Vertex Pharmaceuticals Price Performance

VRTX opened at $295.25 on Wednesday. The stock has a fifty day moving average of $298.63 and a 200-day moving average of $298.94. The firm has a market capitalization of $75.91 billion, a P/E ratio of 23.01, a PEG ratio of 2.49 and a beta of 0.49. Vertex Pharmaceuticals Incorporated has a 12-month low of $233.01 and a 12-month high of $325.19. The company has a quick ratio of 4.66, a current ratio of 4.83 and a debt-to-equity ratio of 0.03.

Vertex Pharmaceuticals (NASDAQ:VRTX – Get Rating) last released its earnings results on Tuesday, February 7th. The pharmaceutical company reported $3.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.11 by $0.65. The company had revenue of $2.30 billion during the quarter, compared to analyst estimates of $2.30 billion. Vertex Pharmaceuticals had a return on equity of 27.78% and a net margin of 37.20%. The company’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.18 earnings per share. Equities analysts forecast that Vertex Pharmaceuticals Incorporated will post 12.44 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on VRTX. Piper Sandler reaffirmed a “neutral” rating and set a $296.00 price target on shares of Vertex Pharmaceuticals in a research note on Wednesday, February 8th. Morgan Stanley decreased their price target on Vertex Pharmaceuticals from $286.00 to $285.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 8th. Jefferies Financial Group lowered Vertex Pharmaceuticals from a “buy” rating to a “hold” rating and set a $340.00 price target for the company. in a research note on Monday, December 19th. Argus increased their price target on Vertex Pharmaceuticals from $320.00 to $340.00 and gave the company a “buy” rating in a research note on Thursday, November 17th. Finally, HC Wainwright increased their price target on Vertex Pharmaceuticals from $300.00 to $325.00 and gave the company a “buy” rating in a research note on Wednesday, February 8th. Six investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $327.10.

Institutional Trading of Vertex Pharmaceuticals

A number of hedge funds have recently modified their holdings of the business. AdvisorNet Financial Inc raised its holdings in shares of Vertex Pharmaceuticals by 5.3% during the third quarter. AdvisorNet Financial Inc now owns 1,153 shares of the pharmaceutical company’s stock worth $334,000 after acquiring an additional 58 shares in the last quarter. NewEdge Advisors LLC purchased a new stake in shares of Vertex Pharmaceuticals during the second quarter worth $1,318,000. Principal Financial Group Inc. increased its position in Vertex Pharmaceuticals by 5.2% during the second quarter. Principal Financial Group Inc. now owns 316,427 shares of the pharmaceutical company’s stock worth $89,166,000 after buying an additional 15,590 shares during the last quarter. Quadrant Capital Group LLC increased its position in Vertex Pharmaceuticals by 8.7% during the third quarter. Quadrant Capital Group LLC now owns 2,012 shares of the pharmaceutical company’s stock worth $583,000 after buying an additional 161 shares during the last quarter. Finally, LMR Partners LLP increased its position in Vertex Pharmaceuticals by 35.1% during the third quarter. LMR Partners LLP now owns 18,980 shares of the pharmaceutical company’s stock worth $5,495,000 after buying an additional 4,928 shares during the last quarter. Hedge funds and other institutional investors own 90.96% of the company’s stock.

Vertex Pharmaceuticals Company Profile

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Vertex Pharmaceuticals, Inc is a global biotechnology company, which engages in the business of discovering, developing, manufacturing, and commercializing small molecule drugs for patients with serious diseases. The firm focuses on development and commercializing therapies for the treatment of cystic fibrosis, infectious diseases including viral infections such as influenza and bacterial infections, autoimmune diseases such as rheumatoid arthritis, cancer, inflammatory bowel disease and neurological disorders including pain and multiple sclerosis.