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Edward Morrow Atkinson III, Executive Vice President and Chief Technical Operations Officer at Vertex Pharmaceuticals Inc. (NASDAQ:VRTX), recently sold a significant portion of his holdings in the company. According to a recent SEC filing, Atkinson sold 1,747 shares of Vertex Pharmaceuticals on February 11, 2025, at an average price of $459.83 per share, totaling approximately $803,323. The transaction comes as the $116 billion market cap company trades near InvestingPro’s Fair Value estimate, with the stock showing a strong 13% gain year-to-date.
The transaction was conducted under a prearranged trading plan, as noted in the filing. Following this sale, Atkinson holds 23,225 shares in the company. Additionally, on February 10, 2025, Atkinson disposed of 876 shares at a price of $467.98 per share, as part of a transaction related to tax obligations. According to InvestingPro data, Vertex maintains strong fundamentals with revenue growth of 11.7% and a GOOD overall financial health score.
These transactions are part of Atkinson’s ongoing management of his equity holdings in the pharmaceutical giant, which is headquartered in Boston, Massachusetts. For deeper insights into Vertex’s valuation, insider trading patterns, and 10+ additional ProTips, visit InvestingPro.
In other recent news, Vertex Pharmaceuticals has been the subject of several analyst reports, all of which highlighted the company’s recent developments. TD Cowen reaffirmed its Buy rating for Vertex, setting a price target of $525, noting the company’s strong fourth-quarter performance and the anticipated launch of Journavx. Truist Securities raised its price target for Vertex from $460 to $520, maintaining its Buy rating and expressing optimism about the market reception for Vertex’s drugs Alyftrek and Journavx.
BMO Capital Markets maintained its Outperform rating and a price target of $545 on Vertex, emphasizing the company’s growth potential and portfolio diversification through 2025. Morgan Stanley (NYSE:MS) raised its price target from $450 to $459, while maintaining an Equalweight rating, following Vertex’s recent financial performance and guidance update. Lastly, Scotiabank (TSX:BNS) analyst Greg Harrison updated the price target for Vertex to $450, up from the previous $433, while maintaining a Sector Perform rating.
These recent developments underscore the confidence of various financial institutions in Vertex’s growth prospects and strategic positioning within the pharmaceutical industry. The company’s upcoming product launches, particularly Journavx and Alyftrek, are anticipated to be significant for Vertex’s growth and market position. Investors and analysts are keenly watching these developments and the company’s ability to meet the financial targets set for 2025.
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