Amit Sachdev Sells 40,000 Shares of Vertex Pharmaceuticals Incorporated (VRTX) Stock

Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) EVP Amit Sachdev sold 40,000 shares of the stock in a transaction dated Tuesday, October 31st. The stock was sold at an average price of $145.05, for a total transaction of $5,802,000.00. Following the completion of the transaction, the executive vice president now owns 89,810 shares of the company’s stock, valued at $13,026,940.50. The sale was disclosed in a document filed with the SEC, which is available through this link.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings results on Wednesday, October 25th. The pharmaceutical company reported $0.53 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.04 by $0.49. Vertex Pharmaceuticals had a net margin of 8.53% and a return on equity of 9.23%. The company had revenue of $578.20 million for the quarter, compared to the consensus estimate of $522.07 million. During the same quarter in the prior year, the company earned $0.16 EPS. Vertex Pharmaceuticals’s quarterly revenue was up 39.7% on a year-over-year basis.

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Large investors have recently modified their holdings of the stock. Northwestern Mutual Wealth Management Co. increased its holdings in Vertex Pharmaceuticals by 15.4% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 988 shares of the pharmaceutical company’s stock worth $127,000 after buying an additional 132 shares during the period. FNY Partners Fund LP increased its holdings in Vertex Pharmaceuticals by 900.0% in the 2nd quarter. FNY Partners Fund LP now owns 1,000 shares of the pharmaceutical company’s stock worth $128,000 after buying an additional 900 shares during the period. Intact Investment Management Inc. acquired a new position in Vertex Pharmaceuticals in the 3rd quarter worth approximately $213,000. Dupont Capital Management Corp acquired a new position in Vertex Pharmaceuticals in the 2nd quarter worth approximately $186,000. Finally, State of Alaska Department of Revenue acquired a new position in Vertex Pharmaceuticals in the 2nd quarter worth approximately $197,000. Institutional investors own 93.36% of the company’s stock.

Several research analysts recently issued reports on the stock. Royal Bank Of Canada reiterated a “buy” rating on shares of Vertex Pharmaceuticals in a research note on Friday, October 27th. Needham & Company LLC reiterated a “buy” rating and issued a $195.00 price target on shares of Vertex Pharmaceuticals in a research note on Friday, October 27th. Robert W. Baird reiterated a “buy” rating on shares of Vertex Pharmaceuticals in a research note on Friday, October 27th. HC Wainwright reiterated a “hold” rating and issued a $85.00 price target on shares of Vertex Pharmaceuticals in a research note on Thursday, October 26th. Finally, Maxim Group reiterated a “buy” rating and issued a $195.00 price target on shares of Vertex Pharmaceuticals in a research note on Thursday, October 26th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-three have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $173.15.

Vertex Pharmaceuticals Company Profile

Vertex Pharmaceuticals Incorporated is engaged in discovering, developing, manufacturing and commercializing medicines for serious diseases. The Company is focused on developing and commercializing therapies for the treatment of cystic fibrosis (CF) and advancing its research and development programs in other indications.

Insider Buying and Selling by Quarter for Vertex Pharmaceuticals (NASDAQ:VRTX)

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