Jeffrey Leiden Sells 19,688 Shares of Vertex Pharmaceuticals (NASDAQ:VRTX) Stock

Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Chairman Jeffrey Leiden sold 19,688 shares of the stock in a transaction on Thursday, November 13th. The stock was sold at an average price of $440.27, for a total value of $8,668,035.76. Following the transaction, the chairman owned 24,026 shares of the company’s stock, valued at $10,577,927.02. This represents a 45.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Vertex Pharmaceuticals Stock Performance

Shares of NASDAQ:VRTX opened at $435.52 on Wednesday. The company’s fifty day moving average is $409.60 and its 200-day moving average is $425.81. Vertex Pharmaceuticals Incorporated has a 52 week low of $362.50 and a 52 week high of $519.68. The company has a market capitalization of $110.50 billion, a PE ratio of 31.13 and a beta of 0.36.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its earnings results on Monday, November 3rd. The pharmaceutical company reported $4.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.58 by $0.22. The business had revenue of $3.08 billion during the quarter, compared to analysts’ expectations of $3.05 billion. Vertex Pharmaceuticals had a net margin of 31.86% and a return on equity of 23.91%. The firm’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same quarter last year, the company posted $4.38 EPS. Vertex Pharmaceuticals has set its FY 2025 guidance at EPS. On average, analysts forecast that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current year.

Hedge Funds Weigh In On Vertex Pharmaceuticals

Several hedge funds have recently added to or reduced their stakes in VRTX. Morningstar Investment Management LLC increased its position in Vertex Pharmaceuticals by 900.4% in the third quarter. Morningstar Investment Management LLC now owns 12,305 shares of the pharmaceutical company’s stock worth $4,819,000 after purchasing an additional 11,075 shares during the period. Kestra Private Wealth Services LLC boosted its stake in shares of Vertex Pharmaceuticals by 67.4% in the 3rd quarter. Kestra Private Wealth Services LLC now owns 10,254 shares of the pharmaceutical company’s stock valued at $4,016,000 after purchasing an additional 4,127 shares during the last quarter. Reynders McVeigh Capital Management LLC grew its position in shares of Vertex Pharmaceuticals by 1.9% during the 3rd quarter. Reynders McVeigh Capital Management LLC now owns 55,350 shares of the pharmaceutical company’s stock worth $21,677,000 after buying an additional 1,040 shares during the period. Armistice Capital LLC bought a new stake in shares of Vertex Pharmaceuticals during the third quarter worth approximately $15,759,000. Finally, CANADA LIFE ASSURANCE Co lifted its holdings in Vertex Pharmaceuticals by 1.3% in the third quarter. CANADA LIFE ASSURANCE Co now owns 274,136 shares of the pharmaceutical company’s stock valued at $108,348,000 after buying an additional 3,424 shares during the period. Institutional investors own 90.96% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Leerink Partnrs upgraded shares of Vertex Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a research note on Thursday, September 25th. UBS Group reduced their price objective on Vertex Pharmaceuticals from $553.00 to $546.00 and set a “buy” rating on the stock in a research note on Friday, November 7th. Barclays increased their target price on Vertex Pharmaceuticals from $408.00 to $414.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 4th. Cantor Fitzgerald cut their price target on Vertex Pharmaceuticals from $535.00 to $485.00 and set an “overweight” rating for the company in a report on Tuesday, August 5th. Finally, Evercore ISI reduced their price target on shares of Vertex Pharmaceuticals from $510.00 to $475.00 and set an “outperform” rating on the stock in a research report on Thursday, September 11th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and eleven have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $491.95.

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.