Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Director Sangeeta N. Bhatia recently sold 242 shares of the company’s stock in a transaction that took place on October 6th, 2023. The average price of the stock during the sale was $360.00, resulting in a total transaction value of $87,120.00. After the completion of the sale, Director Bhatia now directly possesses 4,144 shares of Vertex Pharmaceuticals stock, which are valued at approximately $1,491,840.
This sale was disclosed in a document filed with the Securities & Exchange Commission and can be accessed through the provided hyperlink.
On October 12th, 2023, shares of Vertex Pharmaceuticals traded up to $365.25 during mid-day trading. The stock experienced a trading volume of 1,184,603 shares, compared to its average volume of 1,155,094. Vertex Pharmaceuticals Incorporated has demonstrated a range between its 12-month low of $282.21 and its 12-month high of $367.00. Presently, the biotechnology company holds a market capitalization of $94.27 billion with a P/E ratio of 27.84 and a price-to-earnings-growth ratio of 2.62. The company also maintains a beta value of 0.50.
Additionally, it is important to note that Vertex Pharmaceuticals has exhibited a 50-day moving average value at $349.55 and a two-hundred day moving average at $342.69. Furthermore, it presents a quick ratio standing at 3.96 and a current ratio standing at 4.14 as well as boasting an impressively low debt-to-equity ratio of just .03.
Vertex Pharmaceuticals Incorporated specializes in developing and commercializing therapies for treating cystic fibrosis (CF), offering products such as TRIKAFTA/KAFTRIO and SYMDEKO/SYMKEVI for individuals aged six and older with CF and at least one F508del mutation. The company also provides ORKAMBI to CF patients who have the homozygous F508del mutation and are two years of age or older, KALYDECO for treating patients four months or older with CF responsive to ivacaftor, and R117H mutation or certain gating mutations.
Recent changes in positions held by hedge funds and other institutional investors have been noted in relation to Vertex Pharmaceuticals. Geneos Wealth Management Inc. has seen a 39.4% growth in their holdings of the pharmaceutical company’s stock during the third quarter. This growth amounts to an additional 54 shares, totaling 191 shares worth $66,000. AE Wealth Management LLC also experienced an increase in its position in Vertex Pharmaceuticals by 26.3% during the third quarter, acquiring an additional 4,351 shares valued at $7,267,000. Additionally, CWM LLC reported a rise of 17.6% in its stake in Vertex Pharmaceuticals during the same period, now owning 5,375 shares worth $1,869,000 after purchasing an extra 806 shares.
Trinity Legacy Partners LLC entered into a new position with Vertex Pharmaceuticals during the third quarter with a value of $225,000. Lastly, Adviser Investments LLC followed suit by acquiring a new position worth approximately $292,000 during the same period.
In conclusion, recent news highlights the sale of Vertex Pharmaceuticals Incorporated stock by its Director Sangeeta N. Bhatia as well as several changes among hedge funds and institutional investors’ positions in the company’s stock. As always when investing or considering any financial decision based on such information seek advice from a qualified professional before making any decisions to understand how this particular information may apply to your personal circumstances.
Vertex Pharmaceuticals Reports Strong Financial Performance and Positive Analyst Recommendations on Biotech Innovations for Cystic Fibrosis
Vertex Pharmaceuticals Incorporated, a biotechnology company specializing in therapies for cystic fibrosis (CF), recently announced its earnings results for the quarter ended on August 1st. The company reported earnings per share (EPS) of $3.53, surpassing analysts’ consensus estimates of $3.47 by $0.06.
With a net margin of 35.40% and a return on equity of 24.05%, Vertex Pharmaceuticals showcased strong financial performance during the period. The company achieved revenue of $2.49 billion, outperforming analyst estimates of $2.41 billion.
As a leading player in the biotech industry, Vertex Pharmaceuticals has made significant strides in developing and commercializing therapies for CF patients. The company markets TRIKAFTA/KAFTRIO and SYMDEKO/SYMKEVI for individuals with CF who have at least one F508del mutation and are six years of age or older.
Furthermore, Vertex offers ORKAMBI for CF patients with homozygous F508del mutation aged two or older, KALYDECO for treating patients with CF mutations responsive to ivacaftor above four months old, and R117H mutations or specific gating mutations.
Market analysts have weighed in on the prospects of Vertex Pharmaceuticals following its impressive earnings release. Morgan Stanley raised their price objective from $352 to $359 and assigned the company an “equal weight” rating in their research report issued on October 12th.
Sanford C. Bernstein also revised their price target on Vertex Pharmaceuticals from $380 to $390 while giving it an “outperform” rating only two months prior on August 2nd. These positive recommendations highlight Wall Street’s confidence in the future growth potential of the pharmaceutical giant.
Even Truist Financial reasserted a “buy” rating and set a price objective of $456 on shares of Vertex Pharmaceuticals earlier this month. Evercore ISI also raised their price target on the stock from $375 to $379 on June 26th. HC Wainwright, further added to the bullish sentiment by reiterating a “buy” rating with a price target of $380.
Overall, Vertex Pharmaceuticals has received favorable coverage from industry experts and currently boasts an average rating of “Moderate Buy” among analysts. The stock also holds an average price target of $367.50, according to data provided by Bloomberg.
Investors and those following the biotechnology sector closely should stay tuned for additional updates and analysis on Vertex Pharmaceuticals as it continues to forge ahead in its mission to develop innovative treatments for cystic fibrosis patients.