Vertex Pharmaceuticals SVP Ambrose sells shares for $632,726

Kristen Ambrose, Senior Vice President and Chief Accounting Officer at Vertex Pharmaceuticals Inc. (NASDAQ:VRTX), a $116 billion market cap biotechnology company with strong financial health according to InvestingPro analysis, recently sold 1,376 shares of the company’s common stock. The sale, conducted on February 11, was executed at an average price of $459.83 per share, amounting to a total transaction value of $632,726. This transaction was made under a pre-established trading plan approved by the company on August 8, 2024. Following the sale, Ambrose holds 9,953 shares directly.

In a separate transaction on February 10, Ambrose disposed of 591 shares at $467.98 per share, which was not a market sale but related to tax obligations. After these transactions, Ambrose’s direct shareholding stands at 9,953 shares.

In other recent news, Vertex Pharmaceuticals has been the subject of several analyst reports. TD Cowen reaffirmed its Buy rating, setting a price target of $525, and highlighted Vertex as its top large-cap biotech pick for 2025. The firm’s confidence follows Vertex’s strong fourth-quarter performance, with cystic fibrosis (CF) revenues reaching $2.9 billion. Truist Securities also increased Vertex’s price target to $520, maintaining its Buy rating. The adjustment was based on positive feedback regarding the launches of Vertex’s drugs Alyftrek and Journavx.

BMO Capital Markets maintained its Outperform rating and a $545 price target on Vertex, emphasizing the company’s growth potential and portfolio diversification. This sentiment was based on Vertex’s recent financial results and future projections. Morgan Stanley (NYSE:MS) raised its price target from the previous $450 to $459, while maintaining an Equalweight rating on the stock, following Vertex’s recent financial performance and guidance update.

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 on the stock. The adjustment follows Vertex’s strong fourth-quarter performance in 2024, with total revenues surpassing consensus by $131 million for the quarter, reaching $2.91 billion. These are recent developments that investors should consider when evaluating Vertex’s performance and future prospects.

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