Vertex Pharmaceuticals (NASDAQ:VRTX) Chairman Jeffrey Leiden Sells 63,781 Shares

Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Chairman Jeffrey Leiden sold 63,781 shares of the business’s stock in a transaction dated Wednesday, December 3rd. The shares were sold at an average price of $449.20, for a total value of $28,650,425.20. Following the sale, the chairman owned 24,026 shares of the company’s stock, valued at approximately $10,792,479.20. This represents a 72.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Vertex Pharmaceuticals Stock Down 0.4%

Vertex Pharmaceuticals stock traded down $1.88 during midday trading on Friday, reaching $455.48. 911,138 shares of the stock traded hands, compared to its average volume of 1,600,272. Vertex Pharmaceuticals Incorporated has a 12 month low of $362.50 and a 12 month high of $519.68. The stock has a market cap of $115.56 billion, a P/E ratio of 32.12 and a beta of 0.32. The stock’s fifty day moving average is $420.74 and its 200-day moving average is $425.42.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly 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. Vertex Pharmaceuticals had a return on equity of 23.51% and a net margin of 31.35%.The business had revenue of $3.08 billion for the quarter, compared to the consensus estimate of $3.05 billion. During the same quarter in the prior year, the company earned $4.38 EPS. The business’s revenue was up 11.0% compared to the same quarter last year. On average, equities analysts predict that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Leerink Partnrs upgraded Vertex Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a report on Thursday, September 25th. Morgan Stanley set a $564.00 price objective on shares of Vertex Pharmaceuticals in a research report on Friday. Barclays upped their price target on shares of Vertex Pharmaceuticals from $408.00 to $414.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 4th. Evercore ISI cut their price target on Vertex Pharmaceuticals from $510.00 to $475.00 and set an “outperform” rating for the company in a report on Thursday, September 11th. Finally, UBS Group dropped their price target on shares of Vertex Pharmaceuticals from $553.00 to $546.00 and set a “buy” rating for the company in a research report on Friday, November 7th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $498.25.

Institutional Investors Weigh In On Vertex Pharmaceuticals

A number of institutional investors have recently added to or reduced their stakes in the company. Brighton Jones LLC boosted its position in shares of Vertex Pharmaceuticals by 15.0% in the 4th quarter. Brighton Jones LLC now owns 4,427 shares of the pharmaceutical company’s stock valued at $1,783,000 after purchasing an additional 579 shares during the period. Harbour Investments Inc. raised its position in shares of Vertex Pharmaceuticals by 19.9% in the first quarter. Harbour Investments Inc. now owns 410 shares of the pharmaceutical company’s stock valued at $199,000 after purchasing an additional 68 shares during the period. Cary Street Partners Investment Advisory LLC boosted its stake in Vertex Pharmaceuticals by 21.3% during the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 273 shares of the pharmaceutical company’s stock valued at $132,000 after purchasing an additional 48 shares during the period. Goldman Sachs Group Inc. raised its stake in Vertex Pharmaceuticals by 28.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,775,194 shares of the pharmaceutical company’s stock valued at $860,650,000 after purchasing an additional 398,460 shares during the last quarter. Finally, ASR Vermogensbeheer N.V. acquired a new stake in shares of Vertex Pharmaceuticals during the 1st quarter worth approximately $12,858,000. 90.96% of the stock is currently owned by institutional investors and hedge funds.

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.