Michael Parini Sells 2,125 Shares of Vertex Pharmaceuticals Incorporated (VRTX) Stock

Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) EVP Michael Parini sold 2,125 shares of the company’s stock in a transaction that occurred on Friday, October 12th. The shares were sold at an average price of $177.20, for a total value of $376,550.00. Following the completion of the sale, the executive vice president now owns 41,734 shares of the company’s stock, valued at $7,395,264.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Michael Parini also recently made the following trade(s):

  • On Thursday, October 4th, Michael Parini sold 4,250 shares of Vertex Pharmaceuticals stock. The stock was sold at an average price of $191.58, for a total value of $814,215.00.

VRTX opened at $185.45 on Wednesday. Vertex Pharmaceuticals Incorporated has a 52 week low of $136.50 and a 52 week high of $194.92. The firm has a market cap of $49.26 billion, a PE ratio of 231.81, a PEG ratio of 1.96 and a beta of 1.48. The company has a quick ratio of 3.55, a current ratio of 3.67 and a debt-to-equity ratio of 0.01.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its quarterly earnings results on Wednesday, July 25th. The pharmaceutical company reported $0.94 EPS for the quarter, topping the consensus estimate of $0.40 by $0.54. Vertex Pharmaceuticals had a return on equity of 19.86% and a net margin of 15.84%. The business had revenue of $752.20 million during the quarter, compared to analyst estimates of $680.86 million. During the same period last year, the business posted $0.39 earnings per share. The company’s quarterly revenue was up 38.2% on a year-over-year basis. Equities research analysts predict that Vertex Pharmaceuticals Incorporated will post 2.48 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Eastern Bank purchased a new position in shares of Vertex Pharmaceuticals during the third quarter worth $446,000. Nisa Investment Advisors LLC boosted its position in shares of Vertex Pharmaceuticals by 14.2% during the third quarter. Nisa Investment Advisors LLC now owns 105,354 shares of the pharmaceutical company’s stock worth $20,306,000 after buying an additional 13,117 shares during the period. Andra AP fonden boosted its position in shares of Vertex Pharmaceuticals by 5.8% during the third quarter. Andra AP fonden now owns 36,300 shares of the pharmaceutical company’s stock worth $6,996,000 after buying an additional 2,000 shares during the period. First Hawaiian Bank purchased a new position in shares of Vertex Pharmaceuticals during the third quarter worth $500,000. Finally, Sheets Smith Wealth Management purchased a new position in shares of Vertex Pharmaceuticals during the third quarter worth $613,000. Institutional investors and hedge funds own 93.47% of the company’s stock.

VRTX has been the subject of several analyst reports. Zacks Investment Research upgraded Vertex Pharmaceuticals from a “hold” rating to a “buy” rating and set a $178.00 price objective for the company in a research report on Saturday, June 30th. Cantor Fitzgerald initiated coverage on Vertex Pharmaceuticals in a research report on Monday, October 1st. They issued an “overweight” rating and a $217.00 price objective for the company. Argus increased their price objective on Vertex Pharmaceuticals to $200.00 and gave the stock an “average” rating in a research report on Tuesday, August 28th. They noted that the move was a valuation call. Citigroup increased their price objective on Vertex Pharmaceuticals from $203.00 to $206.00 and gave the stock a “buy” rating in a research report on Monday, July 30th. Finally, UBS Group increased their price objective on Vertex Pharmaceuticals from $183.00 to $188.00 and gave the stock a “neutral” rating in a research report on Thursday, July 26th. Four 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. The company has an average rating of “Buy” and a consensus price target of $197.68.

About Vertex Pharmaceuticals

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.

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