Baker Tilly Wealth Management LLC Purchases 401 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Baker Tilly Wealth Management LLC grew its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 21.2% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,289 shares of the pharmaceutical company’s stock after purchasing an additional 401 shares during the quarter. Baker Tilly Wealth Management LLC’s holdings in Vertex Pharmaceuticals were worth $1,065,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of VRTX. Capital World Investors raised its holdings in Vertex Pharmaceuticals by 17.2% during the 1st quarter. Capital World Investors now owns 25,567,184 shares of the pharmaceutical company’s stock valued at $10,687,339,000 after acquiring an additional 3,761,414 shares during the period. Vanguard Group Inc. raised its stake in shares of Vertex Pharmaceuticals by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 22,676,518 shares of the pharmaceutical company’s stock valued at $9,479,011,000 after purchasing an additional 394,338 shares during the period. Capital Research Global Investors lifted its holdings in Vertex Pharmaceuticals by 61.0% during the 1st quarter. Capital Research Global Investors now owns 5,743,882 shares of the pharmaceutical company’s stock worth $2,401,000,000 after purchasing an additional 2,176,218 shares in the last quarter. Jennison Associates LLC boosted its stake in Vertex Pharmaceuticals by 21.2% in the 1st quarter. Jennison Associates LLC now owns 4,782,374 shares of the pharmaceutical company’s stock worth $1,999,080,000 after purchasing an additional 837,461 shares during the period. Finally, Janus Henderson Group PLC grew its holdings in Vertex Pharmaceuticals by 10.4% during the 1st quarter. Janus Henderson Group PLC now owns 2,584,315 shares of the pharmaceutical company’s stock valued at $1,080,296,000 after buying an additional 244,336 shares in the last quarter. 90.96% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on VRTX shares. Oppenheimer increased their price target on shares of Vertex Pharmaceuticals from $500.00 to $550.00 and gave the stock an “outperform” rating in a report on Monday, August 5th. Piper Sandler increased their target price on shares of Vertex Pharmaceuticals from $500.00 to $535.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. JPMorgan Chase & Co. boosted their price target on shares of Vertex Pharmaceuticals from $505.00 to $510.00 and gave the company an “overweight” rating in a research report on Monday, August 5th. Scotiabank began coverage on Vertex Pharmaceuticals in a research report on Wednesday, October 16th. They issued a “sector perform” rating and a $480.00 price objective on the stock. Finally, Guggenheim boosted their target price on Vertex Pharmaceuticals from $450.00 to $558.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat, Vertex Pharmaceuticals has a consensus rating of “Hold” and an average target price of $492.92.

Vertex Pharmaceuticals Price Performance

NASDAQ:VRTX opened at $477.70 on Monday. The company has a current ratio of 2.52, a quick ratio of 2.26 and a debt-to-equity ratio of 0.02. The company has a fifty day moving average of $475.61 and a 200 day moving average of $462.73. Vertex Pharmaceuticals Incorporated has a 52 week low of $341.90 and a 52 week high of $510.64.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings data on Thursday, August 1st. The pharmaceutical company reported ($12.83) EPS for the quarter, missing the consensus estimate of ($12.54) by ($0.29). The firm had revenue of $2.65 billion for the quarter, compared to the consensus estimate of $2.66 billion. Vertex Pharmaceuticals had a negative net margin of 4.74% and a negative return on equity of 2.45%. The business’s revenue was up 6.1% on a year-over-year basis. During the same period last year, the company posted $3.53 earnings per share. On average, equities research analysts predict that Vertex Pharmaceuticals Incorporated will post -2.11 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Bruce I. Sachs sold 5,295 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $508.00, for a total transaction of $2,689,860.00. Following the completion of the transaction, the director now owns 40,000 shares in the company, valued at $20,320,000. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Vertex Pharmaceuticals news, Chairman Jeffrey M. Leiden sold 3,784 shares of the firm’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $499.00, for a total transaction of $1,888,216.00. Following the completion of the transaction, the chairman now owns 9,994 shares of the company’s stock, valued at approximately $4,987,006. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Bruce I. Sachs sold 5,295 shares of the company’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $508.00, for a total transaction of $2,689,860.00. Following the completion of the sale, the director now directly owns 40,000 shares in the company, valued at $20,320,000. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 12,005 shares of company stock worth $5,988,066. 0.20% of the stock is currently owned by company insiders.

Vertex Pharmaceuticals Company Profile

Vertex Pharmaceuticals Incorporated, a biotechnology company, engages in developing and commercializing therapies for treating cystic fibrosis (CF). It markets TRIKAFTA/KAFTRIO for people with CF with at least one F508del mutation for 2 years of age or older; SYMDEKO/SYMKEVI for people with CF for 6 years of age or older; ORKAMBI for CF patients 1 year or older; and KALYDECO for the treatment of patients with 1 year or older who have CF with ivacaftor.