A Director at Vertex Pharmaceuticals is Exercising Options

Today it was reported that a Director at Vertex Pharmaceuticals (VRTX), Bruce Sachs, exercised options to buy 10,000 VRTX shares at $34.24 a share, for a total transaction value of $342.4K.

Following Bruce Sachs’ last VRTX Buy transaction on May 16, 2013, the stock climbed by 101.7%. This recent transaction increases Bruce Sachs’ holding in the company by 76.86% to a total of $4.13 million.

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Based on Vertex Pharmaceuticals’ latest earnings report for the quarter ending September 30, the company posted quarterly revenue of $783 million and quarterly net profit of $129 million. In comparison, last year the company earned revenue of $578 million and had a GAAP net loss of $103 million. VRTX’s market cap is $45.91B and the company has a P/E ratio of 71.84. Currently, Vertex Pharmaceuticals has an average volume of 1.56M.

Starting in October 2018, VRTX received 20 Buy ratings in a row. 12 different firms, including Cantor Fitzgerald and Raymond James, currently also have a Buy rating on the stock. Based on 13 analyst ratings, the analyst consensus is Strong Buy with an average price target of $207.67, reflecting a 16.6% upside.

The insider sentiment on Vertex Pharmaceuticals has been positive according to 122 insider trades in the past three months. This sentiment is slightly higher than the average sentiment of company insiders in this sector.

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Vertex Pharmaceuticals, Inc. engages in the business of discovering, developing, manufacturing and commercializing small molecule drugs for patients with serious diseases. It focuses on development and commercializing therapies for the treatment of cystic fibrosis; infectious diseases, including viral infections, such as influenza, and bacterial infections; autoimmune diseases, such as rheumatoid arthritis; cancer, inflammatory bowel disease; and neurological disorders, including pain, Huntington’s disease and multiple sclerosis. The company was founded by Joshua S. Boger in 1989 and is headquartered in Boston, MA.

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