Insider Selling: Vertex Pharmaceuticals (VRTX) EVP Sells $21,497.64 in Stock

Vertex Pharmaceuticals (NASDAQ:VRTX) EVP Stuart A. Arbuckle sold 138 shares of the stock in a transaction on Tuesday, May 15th. The stock was sold at an average price of $155.78, for a total transaction of $21,497.64. Following the completion of the sale, the executive vice president now directly owns 46,662 shares of the company’s stock, valued at approximately $7,269,006.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

NASDAQ VRTX traded up $0.90 during trading hours on Friday, reaching $157.24. 998,525 shares of the company traded hands, compared to its average volume of 1,590,274. Vertex Pharmaceuticals has a 12 month low of $115.10 and a 12 month high of $178.25. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.68 and a quick ratio of 3.53. The company has a market capitalization of $39.84 billion, a price-to-earnings ratio of 196.55, a price-to-earnings-growth ratio of 1.91 and a beta of 1.44.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly earnings data on Thursday, April 26th. The pharmaceutical company reported $0.76 EPS for the quarter, beating the Zacks’ consensus estimate of $0.63 by $0.13. Vertex Pharmaceuticals had a net margin of 9.36% and a return on equity of 15.28%. The firm had revenue of $641.00 million for the quarter, compared to the consensus estimate of $626.05 million. During the same period in the prior year, the firm posted $0.99 EPS. The firm’s revenue was down 10.2% compared to the same quarter last year. analysts anticipate that Vertex Pharmaceuticals will post 1.95 EPS for the current year.

Vertex Pharmaceuticals declared that its board has approved a share buyback plan on Wednesday, January 31st that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the pharmaceutical company to purchase shares of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Several research firms have recently issued reports on VRTX. BidaskClub raised shares of Vertex Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research report on Wednesday. Maxim Group restated a “buy” rating and issued a $200.00 target price on shares of Vertex Pharmaceuticals in a research note on Friday, April 27th. HC Wainwright restated a “hold” rating and issued a $103.00 target price on shares of Vertex Pharmaceuticals in a research note on Thursday, February 1st. Cowen restated a “buy” rating and issued a $200.00 target price on shares of Vertex Pharmaceuticals in a research note on Friday, April 27th. Finally, Jefferies Group restated a “buy” rating and issued a $195.00 target price on shares of Vertex Pharmaceuticals in a research note on Thursday, February 1st. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and twenty-six have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $184.54.

A number of hedge funds and other institutional investors have recently bought and sold shares of VRTX. Massachusetts Financial Services Co. MA bought a new position in Vertex Pharmaceuticals during the 1st quarter valued at $247,701,000. Renaissance Technologies LLC raised its holdings in shares of Vertex Pharmaceuticals by 108.2% during the fourth quarter. Renaissance Technologies LLC now owns 2,847,917 shares of the pharmaceutical company’s stock worth $426,789,000 after purchasing an additional 1,479,897 shares during the period. HealthCor Management L.P. raised its holdings in shares of Vertex Pharmaceuticals by 1,974.4% during the fourth quarter. HealthCor Management L.P. now owns 725,000 shares of the pharmaceutical company’s stock worth $108,649,000 after purchasing an additional 690,050 shares during the period. Arrowstreet Capital Limited Partnership raised its holdings in shares of Vertex Pharmaceuticals by 90.1% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,203,221 shares of the pharmaceutical company’s stock worth $180,315,000 after purchasing an additional 570,287 shares during the period. Finally, BlackRock Inc. raised its holdings in shares of Vertex Pharmaceuticals by 2.5% during the first quarter. BlackRock Inc. now owns 19,888,045 shares of the pharmaceutical company’s stock worth $3,241,352,000 after purchasing an additional 478,972 shares during the period. Hedge funds and other institutional investors own 95.31% of the company’s stock.

About Vertex Pharmaceuticals

Vertex Pharmaceuticals Incorporated, a biotechnology company, develops medicines for serious diseases. The company focuses on developing and commercializing therapies for the treatment of cystic fibrosis (CF) and advancing its research and development programs. It markets ORKAMBI (lumacaftor in combination with ivacaftor) to treat patients with CF 12 years of age and older who are homozygous for the F508del mutation in their cystic fibrosis transmembrane conductance regulator (CFTR) gene; KALYDECO (ivacaftor) for the treatment of patients with CF who have specific mutations in their CFTR gene, including the G551D mutation; and SYMDEKO (tezacaftor in combination with ivacaftor) to treat patients with CF 12 years of age and older who are F508del homozygous or who have 1 mutation that is responsive to tezacaftor/ivacaftor.

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

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