Vertex Pharmaceuticals Incorporated (VRTX) SVP Sells $342,141.84 in Stock

Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) SVP Paul M. Silva sold 2,098 shares of the company’s stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $163.08, for a total transaction of $342,141.84. Following the transaction, the senior vice president now owns 17,923 shares in the company, valued at approximately $2,922,882.84. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Shares of Vertex Pharmaceuticals Incorporated (NASDAQ VRTX) opened at $151.60 on Friday. The firm has a market capitalization of $38,340.00, a PE ratio of 77.74, a price-to-earnings-growth ratio of 2.32 and a beta of 1.61. Vertex Pharmaceuticals Incorporated has a twelve month low of $84.39 and a twelve month high of $174.96. The company has a current ratio of 4.79, a quick ratio of 4.58 and a debt-to-equity ratio of 0.01.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings data on Wednesday, January 31st. The pharmaceutical company reported $0.61 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.53 by $0.08. The firm had revenue of $651.63 million during the quarter, compared to analysts’ expectations of $592.49 million. Vertex Pharmaceuticals had a return on equity of 11.02% and a net margin of 10.59%. The company’s quarterly revenue was up 42.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.35 EPS. equities analysts anticipate that Vertex Pharmaceuticals Incorporated will post 1.63 earnings per share for the current fiscal year.

Vertex Pharmaceuticals announced that its Board of Directors has authorized a stock buyback program on Wednesday, January 31st that permits the company to buyback $500.00 million in shares. This buyback authorization permits the pharmaceutical company to repurchase shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.

Several brokerages recently issued reports on VRTX. Leerink Swann reiterated an “outperform” rating and set a $190.00 price target (up previously from $175.00) on shares of Vertex Pharmaceuticals in a research report on Thursday, February 1st. BMO Capital Markets upped their price target on shares of Vertex Pharmaceuticals from $184.00 to $191.00 and gave the stock a “buy” rating in a research report on Thursday, February 1st. Barclays upped their price target on shares of Vertex Pharmaceuticals from $180.00 to $200.00 and gave the stock an “overweight” rating in a research report on Thursday, February 1st. Jefferies Group reiterated a “buy” rating and set a $195.00 price target on shares of Vertex Pharmaceuticals in a research report on Thursday, February 1st. Finally, Royal Bank of Canada upped their price target on shares of Vertex Pharmaceuticals to $200.00 and gave the stock an “outperform” rating in a research report on Thursday, February 1st. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and twenty-five have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $180.07.

A number of large investors have recently made changes to their positions in VRTX. Jennison Associates LLC increased its stake in shares of Vertex Pharmaceuticals by 19.0% in the 3rd quarter. Jennison Associates LLC now owns 6,017,766 shares of the pharmaceutical company’s stock valued at $914,941,000 after acquiring an additional 962,644 shares during the last quarter. Wells Fargo & Company MN increased its stake in shares of Vertex Pharmaceuticals by 7.6% in the 4th quarter. Wells Fargo & Company MN now owns 2,127,092 shares of the pharmaceutical company’s stock valued at $318,765,000 after acquiring an additional 149,823 shares during the last quarter. Orbimed Advisors LLC increased its stake in shares of Vertex Pharmaceuticals by 2.4% in the 3rd quarter. Orbimed Advisors LLC now owns 2,074,302 shares of the pharmaceutical company’s stock valued at $315,377,000 after acquiring an additional 47,800 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of Vertex Pharmaceuticals by 0.6% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,994,410 shares of the pharmaceutical company’s stock valued at $303,230,000 after acquiring an additional 12,454 shares during the last quarter. Finally, Old Mutual Global Investors UK Ltd. increased its stake in shares of Vertex Pharmaceuticals by 18.8% in the 4th quarter. Old Mutual Global Investors UK Ltd. now owns 1,428,127 shares of the pharmaceutical company’s stock valued at $214,019,000 after acquiring an additional 226,097 shares during the last quarter. 92.81% of the stock is owned by hedge funds and other institutional investors.

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About Vertex Pharmaceuticals

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.

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