Insider Analysis: Joshua Boger Sold 6500 shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) in an Insider Trade

November 28, 2016 - By Nellie Frank

Insider Analysis: Joshua Boger Sold 6500 shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) in an Insider Trade

Joshua Boger Insider Sell

On 28/11/2016, the director of Vertex Pharmaceuticals Inc Ma, Mr. Joshua Boger, unloaded a huge amount of shares – 6,500, amounting to $562,043 USD, based on a market stock price of $86.5 for share. This is not his first insider trade, in the last 30 days, he sold another 26,000 shares worth $2,207,029 USD. The trade was revealed in a SEC filing on 28/11/2016. Joshua Boger presently has 359,711 shares which are equivalent to about 0.15% of the Massachusetts-based company’s market cap.

Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Ratings Coverage

Out of 16 analysts covering Vertex Pharmaceuticals (NASDAQ:VRTX), 9 rate it a “Buy”, 0 “Sell”, while 7 “Hold”. This means 56% are positive. $160 is the highest target while $85 is the lowest. The $125.55 average target is 44.48% above today’s ($86.9) stock price. Vertex Pharmaceuticals has been the topic of 30 analyst reports since July 31, 2015 according to StockzIntelligence Inc. As per Monday, October 24, the company rating was downgraded by H.C. Wainwright. H.C. Wainwright upgraded the shares of VRTX in a report on Friday, October 30 to “Buy” rating. Stifel Nicolaus initiated the stock with “Buy” rating in Tuesday, December 1 report. William Blair downgraded Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) on Tuesday, November 1 to “Market Perform” rating. The firm has “Buy” rating by Argus Research given on Monday, September 28. The stock has “Outperform” rating given by Leerink Swann on Tuesday, March 8. The rating was maintained by Stifel Nicolaus on Thursday, September 15 with “Buy”. The rating was maintained by Argus Research with “Buy” on Thursday, February 4. The rating was upgraded by Vetr to “Buy” on Tuesday, September 1. The stock has “Outperform” rating given by Credit Suisse on Wednesday, January 20.

Insitutional Activity: The institutional sentiment decreased to 1.1 in 2016 Q2. Its down 0.04, from 1.14 in 2016Q1. The ratio turned negative, as 53 funds sold all Vertex Pharmaceuticals Incorporated shares owned while 139 reduced positions. 43 funds bought stakes while 176 increased positions. They now own 236.53 million shares or 0.67% less from 238.13 million shares in 2016Q1.

Scotia Inc last reported 0.02% of its portfolio in the stock. Eulav Asset Mgmt, a New York-based fund reported 136,000 shares. Fund Management has 0.01% invested in the company for 12,799 shares. D E Shaw & accumulated 976,050 shares or 0.15% of the stock. Cwm Limited Liability Company last reported 2 shares in the company. Lpl Lc owns 17,604 shares or 0.01% of their US portfolio. Hsbc Public Ltd Co reported 104,320 shares or 0.02% of all its holdings. Principal Grp Incorporated holds 0.04% or 354,642 shares in its portfolio. Mutual Of America Mgmt Ltd Limited Liability Company, a New York-based fund reported 28,800 shares. The Georgia-based Advisory Svcs Net Limited Liability Corp has invested 0% in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX). State Of New Jersey Common Pension Fund D last reported 0.1% of its portfolio in the stock. Cibc Asset Management Inc, a Ontario – Canada-based fund reported 31,212 shares. Alliancebernstein L P, a New York-based fund reported 464,691 shares. Ls Inv Advisors Ltd Llc owns 8,297 shares or 0.05% of their US portfolio. Tiaa Cref Inv Mngmt Ltd Liability Company owns 1.63 million shares or 0.11% of their US portfolio.

Insider Transactions: Since June 8, 2016, the stock had 0 buys, and 29 insider sales for $17.66 million net activity. BOGER JOSHUA S had sold 6,500 shares worth $505,400. 1,208 shares with value of $104,444 were sold by Arbuckle Stuart A on Monday, October 3. On Tuesday, November 15 the insider Sachdev Amit sold $10,830. The insider Silva Paul M sold 5,062 shares worth $460,556.

The stock decreased 0.99% or $0.87 during the last trading session, hitting $86.9. About 1.85 million shares traded hands. Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) has risen 2.46% since April 25, 2016 and is uptrending. It has underperformed by 3.55% the S&P500.

Vertex Pharmaceuticals Incorporated is engaged in the business of discovering, developing, manufacturing and commercializing medicines for serious diseases. The company has a market cap of $21.66 billion. The Firm operates in pharmaceuticals segment. It currently has negative earnings. The Company’s business is focused on developing and commercializing therapies for the treatment of cystic fibrosis and advancing its research and development programs in other indications.

According to Zacks Investment Research, “Vertex Pharmaceuticals Inc. discovers, develops and markets small molecule drugs that address major unmet medical needs. The company has eight drug candidates in clinical development to treat viral diseases, inflammation, cancer, autoimmune diseases and neurological disorders. Vertex has created its pipeline using a proprietary information-based approach to drug design that integrates multiple technologies in biology, chemistry and biophysics aimed at increasing the speed and success rate of drug discovery. (PRESS RELEASE)”

Analysts await Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) to report earnings on January, 25. They expect $0.01 earnings per share, up 150.00% or $0.03 from last year’s $-0.02 per share. VRTX’s profit will be $2.49 million for 2172.50 P/E if the $0.01 EPS becomes a reality. After $-0.09 actual earnings per share reported by Vertex Pharmaceuticals Incorporated for the previous quarter, Wall Street now forecasts -111.11% EPS growth.

More notable recent Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) news were published by: Fool.com which released: “Vertex Pharmaceuticals Incorporated Pushes Forward With Drug Combinations (and ..” on October 27, 2016, also Fool.com with their article: “Can Vertex Pharmaceuticals Incorporated Bounce Back From Its 28.9% Drop?” published on July 06, 2016, Fool.com published: “Why Vertex Pharmaceuticals Incorporated Stock Dipped 11% in March” on April 11, 2016. More interesting news about Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) were released by: Fool.com and their article: “These 2 Catalysts Lifted Vertex Pharmaceuticals Incorporated 13% in July” published on August 10, 2016 as well as Fool.com‘s news article titled: “Vertex Pharmaceuticals Incorporated Prepares for (More) Growth” with publication date: August 02, 2016.

VRTX Company Profile

Vertex Pharmaceuticals Incorporated (Vertex), incorporated on January 4, 1989, is engaged in the business of discovering, developing, manufacturing and commercializing medicines for serious diseases. The Firm operates in pharmaceuticals segment. The Company’s business is focused on developing and commercializing therapies for the treatment of cystic fibrosis (CF) and advancing its research and development programs in other indications. Vertex’s two marketed medicines are ORKAMBI and KALYDECO, which are approved to treat patients with CF having specific mutations in their CF transmembrane conductance regulator (CFTR) gene. It has multiple development programs in the field of CF, including VX-661, VX-371, and VX-152 and VX-440. The Company’s VX-661 is a corrector compound that the Company is evaluating a Phase III development program in combination with ivacaftor in multiple CF patient populations having approximately one copy of the F508del mutation in their CFTR gene. The Company’s VX-371 is an investigational epithelial sodium channel (ENaC) inhibitor that is being evaluated in a Phase II development program. The Company’s VX-152 and VX-440 are two next-generation CFTR corrector compounds that entered Phase I clinical trials.

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