Vertex Pharmaceuticals Incorporated (VRTX) CEO Sells $1,690,537.03 in Stock

Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) CEO Jeffrey M. Leiden sold 11,063 shares of the firm’s stock in a transaction on Monday, July 31st. The shares were sold at an average price of $152.81, for a total transaction of $1,690,537.03. Following the sale, the chief executive officer now owns 268,455 shares in the company, valued at $41,022,608.55. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.

Shares of Vertex Pharmaceuticals Incorporated (VRTX) traded up 3.53% during midday trading on Friday, hitting $153.78. 1,551,523 shares of the stock were exchanged. Vertex Pharmaceuticals Incorporated has a 12-month low of $71.46 and a 12-month high of $167.85. The firm has a 50-day moving average price of $143.85 and a 200 day moving average price of $115.44. The firm has a market cap of $38.77 billion, a PE ratio of 147.72 and a beta of 1.77.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its quarterly earnings results on Wednesday, July 26th. The pharmaceutical company reported $0.39 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.06 by $0.33. Vertex Pharmaceuticals had a return on equity of 4.64% and a net margin of 12.05%. The business had revenue of $544.10 million during the quarter, compared to analyst estimates of $489.95 million. During the same quarter last year, the company posted $0.24 EPS. Vertex Pharmaceuticals’s revenue for the quarter was up 26.1% on a year-over-year basis. Analysts predict that Vertex Pharmaceuticals Incorporated will post $1.60 earnings per share for the current fiscal year.

TRADEMARK VIOLATION NOTICE: This news story was reported by BNB Daily and is the property of of BNB Daily. If you are accessing this news story on another domain, it was stolen and republished in violation of international copyright and trademark laws. The original version of this news story can be read at https://www.baseball-news-blog.com/2017/08/14/jeffrey-m-leiden-sells-11063-shares-of-vertex-pharmaceuticals-incorporated-vrtx-stock-updated.html.

A number of large investors have recently made changes to their positions in the company. BlackRock Inc. raised its stake in shares of Vertex Pharmaceuticals by 0.8% in the second quarter. BlackRock Inc. now owns 19,405,981 shares of the pharmaceutical company’s stock worth $2,500,849,000 after buying an additional 159,601 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Vertex Pharmaceuticals by 3.1% in the second quarter. Vanguard Group Inc. now owns 16,979,872 shares of the pharmaceutical company’s stock worth $2,188,196,000 after buying an additional 504,982 shares during the last quarter. State Street Corp raised its stake in shares of Vertex Pharmaceuticals by 2.0% in the first quarter. State Street Corp now owns 12,013,178 shares of the pharmaceutical company’s stock worth $1,313,647,000 after buying an additional 239,017 shares during the last quarter. Clearbridge Investments LLC raised its stake in shares of Vertex Pharmaceuticals by 1.2% in the first quarter. Clearbridge Investments LLC now owns 8,754,618 shares of the pharmaceutical company’s stock worth $957,317,000 after buying an additional 105,260 shares during the last quarter. Finally, Jennison Associates LLC raised its stake in shares of Vertex Pharmaceuticals by 253.8% in the second quarter. Jennison Associates LLC now owns 5,055,122 shares of the pharmaceutical company’s stock worth $651,454,000 after buying an additional 3,626,368 shares during the last quarter. Hedge funds and other institutional investors own 93.13% of the company’s stock.

A number of research firms recently commented on VRTX. Zacks Investment Research cut shares of Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Friday, August 4th. Cowen and Company reissued a “buy” rating on shares of Vertex Pharmaceuticals in a research report on Tuesday, August 1st. Argus boosted their price objective on shares of Vertex Pharmaceuticals from $71.46 to $175.00 and gave the company a “buy” rating in a research report on Tuesday, August 1st. Vetr raised shares of Vertex Pharmaceuticals from a “buy” rating to a “strong-buy” rating and set a $181.00 price objective for the company in a research report on Monday, July 31st. Finally, TheStreet lowered shares of Vertex Pharmaceuticals from a “b-” rating to a “c+” rating in a report on Wednesday, July 26th. Five research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $162.88.

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.

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

Receive News & Ratings for Vertex Pharmaceuticals Incorporated Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Vertex Pharmaceuticals Incorporated and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply