Stock market today: Dow in fresh record close as Powell signals rate cut incoming
Charles F. Wagner Jr., Executive Vice President and Chief Financial Officer of Vertex Pharmaceuticals Inc. (NASDAQ:VRTX), recently sold 3,298 shares of the company’s common stock. The transaction, executed on March 10, 2025, was part of a pre-established trading plan under Rule 10b5-1. The sale comes as Vertex, with its substantial market capitalization of $127 billion, trades near its 52-week high of $519.88, having gained over 21% year-to-date. The shares were sold at a price of $500 each, totaling approximately $1.65 million. Following this sale, Wagner retains direct ownership of 51,671 shares in the company. According to InvestingPro analysis, while executives are selling, management has been actively buying back shares, and the company maintains a strong financial health score. For deeper insights into insider trading patterns and 13 additional exclusive ProTips, consider exploring InvestingPro’s comprehensive research report.
In other recent news, Vertex Pharmaceuticals Inc.’s non-opioid pain medication, Journavx, has been included in UnitedHealth Group Inc (NYSE:UNH).’s coverage. However, it has been placed in a higher-cost tier, which typically applies to "non-preferred" brand drugs. This classification means patients using Journavx might face higher costs compared to other treatments on lower tiers. The decision impacts UnitedHealth’s Optum Rx Premium and Select formularies for commercial plans. Meanwhile, Vertex, Inc. reported its fourth-quarter earnings, posting adjusted earnings per share of $0.15, slightly above analyst estimates. The company also reported revenue of $178.5 million, surpassing the consensus of $176.9 million. Despite these results, the company’s guidance for the first quarter of 2025 fell short of expectations, with projected revenues of $175-178 million compared to analyst projections of $180.3 million. For the full year 2025, Vertex expects revenue in line with the $764 million consensus estimate.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.