Stuart A. Arbuckle Sells 2,155 Shares of Vertex Pharmaceuticals Incorporated (VRTX) Stock

Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) EVP Stuart A. Arbuckle sold 2,155 shares of Vertex Pharmaceuticals stock in a transaction that occurred on Friday, November 2nd. The stock was sold at an average price of $175.36, for a total value of $377,900.80. Following the completion of the transaction, the executive vice president now directly owns 48,907 shares in the company, valued at $8,576,331.52. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

VRTX opened at $175.23 on Wednesday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.59 and a current ratio of 3.71. Vertex Pharmaceuticals Incorporated has a 52-week low of $136.50 and a 52-week high of $194.92. The company has a market cap of $44.29 billion, a PE ratio of 219.04, a price-to-earnings-growth ratio of 1.72 and a beta of 1.61.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its earnings results on Wednesday, October 24th. The pharmaceutical company reported $1.09 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.02 by $0.07. Vertex Pharmaceuticals had a return on equity of 22.92% and a net margin of 22.87%. The firm had revenue of $784.54 million for the quarter, compared to analysts’ expectations of $782.95 million. During the same period in the previous year, the firm earned $0.53 earnings per share. As a group, equities analysts anticipate that Vertex Pharmaceuticals Incorporated will post 2.55 EPS for the current year.

Several institutional investors and hedge funds have recently bought and sold shares of VRTX. CIBC World Markets Inc. purchased a new position in shares of Vertex Pharmaceuticals during the first quarter valued at approximately $302,000. Dynamic Technology Lab Private Ltd bought a new stake in shares of Vertex Pharmaceuticals during the first quarter valued at approximately $235,000. DnB Asset Management AS boosted its position in shares of Vertex Pharmaceuticals by 8.2% during the second quarter. DnB Asset Management AS now owns 31,580 shares of the pharmaceutical company’s stock valued at $5,367,000 after purchasing an additional 2,400 shares in the last quarter. IFM Investors Pty Ltd boosted its position in shares of Vertex Pharmaceuticals by 44.8% during the second quarter. IFM Investors Pty Ltd now owns 11,401 shares of the pharmaceutical company’s stock valued at $1,938,000 after purchasing an additional 3,525 shares in the last quarter. Finally, Cullinan Associates Inc. boosted its position in shares of Vertex Pharmaceuticals by 22.1% during the second quarter. Cullinan Associates Inc. now owns 120,342 shares of the pharmaceutical company’s stock valued at $20,453,000 after purchasing an additional 21,795 shares in the last quarter. 93.51% of the stock is currently owned by hedge funds and other institutional investors.

A number of equities analysts have commented on the company. BMO Capital Markets lifted their price target on Vertex Pharmaceuticals to $204.00 and gave the stock an “outperform” rating in a research note on Thursday, July 26th. Oppenheimer lifted their price target on Vertex Pharmaceuticals from $180.00 to $200.00 and gave the stock an “outperform” rating in a research note on Thursday, July 26th. Jefferies Financial Group lifted their price target on Vertex Pharmaceuticals to $210.00 and gave the stock a “buy” rating in a research note on Monday, July 16th. UBS Group lifted their price target on Vertex Pharmaceuticals from $183.00 to $188.00 and gave the stock a “neutral” rating in a research note on Thursday, July 26th. Finally, Morgan Stanley lifted their price target on Vertex Pharmaceuticals from $207.00 to $211.00 and gave the stock an “overweight” rating in a research note on Thursday, July 26th. Three research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $202.14.

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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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