Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) CMO Sells $101,291.00 in Stock

Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) CMO Reshma Kewalramani sold 509 shares of the business’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $199.00, for a total value of $101,291.00. Following the sale, the chief marketing officer now owns 13,607 shares in the company, valued at approximately $2,707,793. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Reshma Kewalramani also recently made the following trade(s):

  • On Wednesday, October 30th, Reshma Kewalramani sold 3,057 shares of Vertex Pharmaceuticals stock. The stock was sold at an average price of $199.00, for a total value of $608,343.00.
  • On Tuesday, October 22nd, Reshma Kewalramani sold 638 shares of Vertex Pharmaceuticals stock. The stock was sold at an average price of $189.00, for a total value of $120,582.00.

NASDAQ VRTX opened at $209.80 on Friday. The business’s 50-day moving average price is $184.77 and its two-hundred day moving average price is $177.82. Vertex Pharmaceuticals Incorporated has a 12 month low of $151.80 and a 12 month high of $210.05. The firm has a market capitalization of $53.26 billion, a PE ratio of 54.36, a price-to-earnings-growth ratio of 1.93 and a beta of 1.46. The company has a current ratio of 3.44, a quick ratio of 3.32 and a debt-to-equity ratio of 0.12.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its quarterly earnings results on Wednesday, October 30th. The pharmaceutical company reported $1.23 EPS for the quarter, beating analysts’ consensus estimates of $0.87 by $0.36. Vertex Pharmaceuticals had a return on equity of 20.33% and a net margin of 59.24%. The firm had revenue of $949.83 million for the quarter, compared to analyst estimates of $942.90 million. During the same quarter in the previous year, the company posted $1.09 EPS. The business’s revenue was up 21.1% on a year-over-year basis. As a group, analysts forecast that Vertex Pharmaceuticals Incorporated will post 3.72 earnings per share for the current fiscal year.

Vertex Pharmaceuticals announced that its board has approved a share repurchase plan on Wednesday, July 31st that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the pharmaceutical company to buy up to 1.2% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its stock is undervalued.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. First Quadrant L P CA boosted its position in shares of Vertex Pharmaceuticals by 196.1% during the 2nd quarter. First Quadrant L P CA now owns 18,664 shares of the pharmaceutical company’s stock valued at $3,423,000 after purchasing an additional 12,360 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Vertex Pharmaceuticals by 13.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,578,150 shares of the pharmaceutical company’s stock valued at $472,781,000 after purchasing an additional 296,068 shares in the last quarter. Daiwa Securities Group Inc. boosted its position in shares of Vertex Pharmaceuticals by 0.5% during the 2nd quarter. Daiwa Securities Group Inc. now owns 11,806 shares of the pharmaceutical company’s stock valued at $2,165,000 after purchasing an additional 61 shares in the last quarter. Manning & Napier Group LLC boosted its position in shares of Vertex Pharmaceuticals by 27.5% during the 2nd quarter. Manning & Napier Group LLC now owns 383,264 shares of the pharmaceutical company’s stock valued at $70,281,000 after purchasing an additional 82,670 shares in the last quarter. Finally, Bank of Montreal Can boosted its position in shares of Vertex Pharmaceuticals by 18.8% during the 2nd quarter. Bank of Montreal Can now owns 334,605 shares of the pharmaceutical company’s stock valued at $61,359,000 after purchasing an additional 52,992 shares in the last quarter. Hedge funds and other institutional investors own 94.31% of the company’s stock.

A number of brokerages recently weighed in on VRTX. Bank of America began coverage on Vertex Pharmaceuticals in a research report on Wednesday, October 16th. They set a “buy” rating and a $220.00 price objective on the stock. Leerink Swann boosted their price objective on Vertex Pharmaceuticals from $186.00 to $203.00 and gave the stock a “market perform” rating in a research report on Tuesday, October 22nd. Credit Suisse Group restated a “buy” rating and set a $228.00 price objective on shares of Vertex Pharmaceuticals in a research report on Monday, November 4th. BMO Capital Markets set a $232.00 price objective on Vertex Pharmaceuticals and gave the stock a “buy” rating in a research report on Monday, October 21st. Finally, JPMorgan Chase & Co. set a $218.00 price objective on Vertex Pharmaceuticals and gave the stock a “buy” rating in a research report on Monday, October 21st. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $216.94.

About Vertex Pharmaceuticals

Vertex Pharmaceuticals Incorporated engages in developing and commercializing therapies for treating cystic fibrosis. The company markets SYMDEKO/SYMKEVI, ORKAMBI, and KALYDECO to treat patients with cystic fibrosis who have specific mutations in their cystic fibrosis transmembrane conductance regulator gene.

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