Vertex Pharmaceuticals EVP sells $1.6 million in stock

David Altshuler, Executive Vice President and Chief Scientific Officer at Vertex Pharmaceuticals (NASDAQ:VRTX), recently sold 3,231 shares of the company’s common stock. The sale, which took place on March 10, was executed at a price of $500 per share, resulting in a total transaction value of approximately $1.6 million. The transaction occurred as the stock trades near its 52-week high of $519.88, with the company maintaining a substantial market capitalization of $127.23 billion and an impressive year-to-date return of 21.27%. Following this sale, Altshuler retains ownership of 26,512 shares. This transaction was conducted under a trading plan approved by the company, in accordance with Rule 10b5-1, which Altshuler entered into on August 8, 2024. According to InvestingPro analysis, Vertex maintains strong operational efficiency with an 86.11% gross profit margin. For deeper insights into insider trading patterns and comprehensive financial analysis, investors can access the detailed Pro Research Report, available exclusively to InvestingPro subscribers.

In other recent news, Vertex Pharmaceuticals Inc.’s non-opioid pain medication, Journavx, has been included in UnitedHealth Group Inc (NYSE:UNH).’s coverage, according to Bloomberg News. However, the drug has been assigned to a costlier tier, specifically tier 3, in UnitedHealth’s Optum Rx drug plan division. This classification implies that while Journavx is covered, it will likely cost patients more compared to drugs on lower tiers, which usually include low-cost generics or preferred brand drugs.

In other developments, Vertex, Inc. reported its fourth-quarter results, which were in line with expectations. The company posted adjusted earnings per share of $0.15, slightly exceeding analyst estimates of $0.14, and revenue of $178.5 million, surpassing the consensus of $176.9 million. Despite these results, Vertex’s guidance for the first quarter of 2025 disappointed investors, as the company projected revenue of $175-178 million, falling short of the analyst forecast of $180.3 million. For the full year 2025, Vertex expects revenue between $760-768 million, aligning with the $764 million consensus estimate. The company highlighted its cloud revenues, which increased by 27% year-over-year in Q4, and its Annual Recurring Revenue (ARR) grew by 17.7% year-over-year to $603.1 million. Vertex’s Chief Financial Officer, John Schwab, mentioned that the 2025 guidance includes additional R&D investments for AI initiatives and emerging technologies.

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