Investors Sell Vertex Pharmaceuticals (VRTX) on Strength (VRTX)

Investors sold shares of Vertex Pharmaceuticals (NASDAQ:VRTX) on strength during trading on Thursday. $43.04 million flowed into the stock on the tick-up and $68.32 million flowed out of the stock on the tick-down, for a money net flow of $25.28 million out of the stock. Of all companies tracked, Vertex Pharmaceuticals had the 0th highest net out-flow for the day. Vertex Pharmaceuticals traded up $0.17 for the day and closed at $149.64

Several research firms recently weighed in on VRTX. Cowen restated a “buy” rating and set a $200.00 target price on shares of Vertex Pharmaceuticals in a report on Friday, April 27th. Morgan Stanley lifted their target price on shares of Vertex Pharmaceuticals from $200.00 to $207.00 and gave the company an “overweight” rating in a report on Friday, April 27th. Maxim Group restated a “buy” rating and set a $200.00 target price on shares of Vertex Pharmaceuticals in a report on Friday, April 27th. BidaskClub lowered shares of Vertex Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Saturday, April 21st. Finally, Zacks Investment Research upgraded shares of Vertex Pharmaceuticals from a “hold” rating to a “buy” rating and set a $185.00 target price on the stock in a report on Friday, April 20th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and twenty-six have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $184.54.

Get Vertex Pharmaceuticals alerts:

The company has a market capitalization of $38,132.80, a PE ratio of 186.74, a price-to-earnings-growth ratio of 1.83 and a beta of 1.44. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.97 and a current ratio of 3.68.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its quarterly earnings results on Thursday, April 26th. The pharmaceutical company reported $0.76 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.63 by $0.13. The firm had revenue of $641.00 million for the quarter, compared to the consensus estimate of $626.05 million. Vertex Pharmaceuticals had a net margin of 9.36% and a return on equity of 15.28%. The firm’s quarterly revenue was down 10.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.99 EPS. analysts predict that Vertex Pharmaceuticals will post 1.95 earnings per share for the current year.

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

In other news, EVP Michael Parini sold 2,330 shares of the business’s stock in a transaction dated Thursday, May 3rd. The shares were sold at an average price of $149.50, for a total value of $348,335.00. Following the completion of the sale, the executive vice president now owns 41,939 shares of the company’s stock, valued at approximately $6,269,880.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Paul M. Silva sold 859 shares of the business’s stock in a transaction dated Wednesday, April 18th. The stock was sold at an average price of $166.05, for a total transaction of $142,636.95. Following the completion of the sale, the senior vice president now directly owns 16,946 shares of the company’s stock, valued at approximately $2,813,883.30. The disclosure for this sale can be found here. Insiders sold a total of 223,843 shares of company stock valued at $35,644,806 in the last three months. Insiders own 1.80% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Dorsey Wright & Associates boosted its holdings in shares of Vertex Pharmaceuticals by 2.4% in the 1st quarter. Dorsey Wright & Associates now owns 15,128 shares of the pharmaceutical company’s stock valued at $2,466,000 after buying an additional 349 shares during the period. Atria Investments LLC boosted its holdings in shares of Vertex Pharmaceuticals by 7.9% in the 4th quarter. Atria Investments LLC now owns 4,765 shares of the pharmaceutical company’s stock valued at $714,000 after buying an additional 350 shares during the period. Wetherby Asset Management Inc. boosted its holdings in shares of Vertex Pharmaceuticals by 10.1% in the 1st quarter. Wetherby Asset Management Inc. now owns 4,078 shares of the pharmaceutical company’s stock valued at $665,000 after buying an additional 375 shares during the period. Hanseatic Management Services Inc. boosted its holdings in shares of Vertex Pharmaceuticals by 9.0% in the 4th quarter. Hanseatic Management Services Inc. now owns 5,092 shares of the pharmaceutical company’s stock valued at $763,000 after buying an additional 419 shares during the period. Finally, Creative Planning boosted its holdings in shares of Vertex Pharmaceuticals by 13.3% in the 4th quarter. Creative Planning now owns 4,363 shares of the pharmaceutical company’s stock valued at $654,000 after buying an additional 513 shares during the period. 94.80% of the stock is owned by institutional investors.

Vertex Pharmaceuticals Company Profile

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.

Leave a Reply

Your email address will not be published. Required fields are marked *