Vertex Pharmaceuticals (NASDAQ:VRTX) CMO Carmen Bozic Sells 1,020 Shares

Key Points

• Vertex Pharmaceuticals CMO Carmen Bozic sold 1,020 shares on June 18 at an average price of $462.17, totaling about $471,413. The trade reduced her stake by 6.02% and was made under a pre-arranged Rule 10b5-1 plan.
• Bozic has also sold shares several times in recent weeks, including 4,062 shares on June 15, 1,745 shares on June 5, and 6,988 shares on May 12. These transactions add to the recent insider selling activity at Vertex.
• Vertex stock rose to $468.42 in Tuesday trading, and the company recently reported Q1 EPS of $4.47, beating estimates. Analysts remain generally constructive, with a consensus rating of Moderate Buy and an average target price of $555.91.

Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Get Free Report) CMO Carmen Bozic sold 1,020 shares of the business's stock in a transaction that occurred on Thursday, June 18th. The shares were sold at an average price of $462.17, for a total value of $471,413.40. Following the completion of the sale, the chief marketing officer owned 15,933 shares of the company's stock, valued at $7,363,754.61. The trade was a 6.02% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Carmen Bozic also recently made the following trade(s):

• On Monday, June 15th, Carmen Bozic sold 4,062 shares of Vertex Pharmaceuticals stock. The stock was sold at an average price of $450.00, for a total transaction of $1,827,900.00.
• On Friday, June 5th, Carmen Bozic sold 1,745 shares of Vertex Pharmaceuticals stock. The shares were sold at an average price of $450.00, for a total transaction of $785,250.00.
• On Tuesday, May 12th, Carmen Bozic sold 6,988 shares of Vertex Pharmaceuticals stock. The shares were sold at an average price of $450.00, for a total transaction of $3,144,600.00.

Vertex Pharmaceuticals Price Performance

Vertex Pharmaceuticals stock traded up $1.63 during trading hours on Tuesday, reaching $468.42. The stock had a trading volume of 1,203,329 shares, compared to its average volume of 1,391,024. The stock has a market cap of $118.88 billion, a PE ratio of 27.78, a PEG ratio of 1.93 and a beta of 0.30. Vertex Pharmaceuticals Incorporated has a 52 week low of $362.50 and a 52 week high of $507.92. The company has a fifty day simple moving average of $439.11 and a 200-day simple moving average of $453.56.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last released its quarterly earnings data on Monday, May 4th. The pharmaceutical company reported $4.47 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.24 by $0.23. The firm had revenue of $2.99 billion for the quarter, compared to analysts' expectations of $2.99 billion. Vertex Pharmaceuticals had a net margin of 35.51% and a return on equity of 23.86%. The company's revenue for the quarter was up 8.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $4.06 earnings per share. Research analysts predict that Vertex Pharmaceuticals Incorporated will post 17.02 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on VRTX shares. Jefferies Financial Group assumed coverage on Vertex Pharmaceuticals in a report on Tuesday, March 10th. They issued a "buy" rating and a $580.00 price objective for the company. Wall Street Zen raised Vertex Pharmaceuticals from a "hold" rating to a "buy" rating in a research note on Saturday. Canaccord Genuity Group dropped their price target on Vertex Pharmaceuticals from $437.00 to $436.00 and set a "hold" rating for the company in a research note on Tuesday, May 5th. Maxim Group upgraded shares of Vertex Pharmaceuticals from a "hold" rating to a "buy" rating and set a $575.00 price target on the stock in a report on Wednesday, March 18th. Finally, Bank of America boosted their price objective on shares of Vertex Pharmaceuticals from $571.00 to $598.00 and gave the company a "buy" rating in a research report on Tuesday, March 10th. Twenty-two analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $555.91.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Western Wealth Management LLC boosted its position in shares of Vertex Pharmaceuticals by 159.7% during the first quarter. Western Wealth Management LLC now owns 1,631 shares of the pharmaceutical company's stock valued at $728,000 after purchasing an additional 1,003 shares in the last quarter. Pacer Advisors Inc. raised its holdings in Vertex Pharmaceuticals by 16.7% in the first quarter. Pacer Advisors Inc. now owns 88,863 shares of the pharmaceutical company's stock worth $39,681,000 after purchasing an additional 12,721 shares in the last quarter. First National Bank of Mount Dora Trust Investment Services lifted its position in Vertex Pharmaceuticals by 16.1% during the first quarter. First National Bank of Mount Dora Trust Investment Services now owns 7,211 shares of the pharmaceutical company's stock valued at $3,220,000 after buying an additional 999 shares during the period. Parallel Advisors LLC boosted its holdings in shares of Vertex Pharmaceuticals by 6.4% during the 1st quarter. Parallel Advisors LLC now owns 5,522 shares of the pharmaceutical company's stock valued at $2,466,000 after buying an additional 333 shares in the last quarter. Finally, Glenmede Trust Co. NA boosted its holdings in shares of Vertex Pharmaceuticals by 5.0% during the 1st quarter. Glenmede Trust Co. NA now owns 5,608 shares of the pharmaceutical company's stock valued at $2,504,000 after buying an additional 269 shares in the last quarter. Hedge funds and other institutional investors own 90.96% of the company's stock.

About Vertex Pharmaceuticals

Vertex Pharmaceuticals Inc is a Boston-based biotechnology company focused on the discovery, development and commercialization of therapies for serious diseases. Founded in 1989, Vertex built its reputation on research-driven drug development and is best known for its work in cystic fibrosis (CF), where its portfolio of small-molecule CFTR modulators transformed standards of care for many people with the disease. The company operates research and development, manufacturing and commercial organizations and serves patients and healthcare systems in multiple international markets.

Vertex's marketed products center on CFTR modulators that target the underlying cause of cystic fibrosis rather than just treating symptoms.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.