Baker Tilly Wealth Management LLC Sells 393 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Baker Tilly Wealth Management LLC cut its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 17.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,896 shares of the pharmaceutical company’s stock after selling 393 shares during the period. Baker Tilly Wealth Management LLC’s holdings in Vertex Pharmaceuticals were worth $764,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Northwest Investment Counselors LLC bought a new position in Vertex Pharmaceuticals during the third quarter worth $25,000. Dunhill Financial LLC grew its holdings in Vertex Pharmaceuticals by 70.6% during the 3rd quarter. Dunhill Financial LLC now owns 58 shares of the pharmaceutical company’s stock worth $27,000 after acquiring an additional 24 shares during the period. Highline Wealth Partners LLC bought a new position in shares of Vertex Pharmaceuticals in the 3rd quarter worth about $27,000. GHP Investment Advisors Inc. acquired a new position in shares of Vertex Pharmaceuticals in the 2nd quarter valued at about $29,000. Finally, Legacy Investment Solutions LLC acquired a new position in shares of Vertex Pharmaceuticals in the 3rd quarter valued at about $33,000. Institutional investors and hedge funds own 90.96% of the company’s stock.

Analyst Upgrades and Downgrades

VRTX has been the subject of a number of research analyst reports. Scotiabank lifted their target price on Vertex Pharmaceuticals from $426.00 to $430.00 and gave the stock a “sector perform” rating in a report on Monday, December 23rd. HC Wainwright lowered their price objective on shares of Vertex Pharmaceuticals from $600.00 to $535.00 and set a “buy” rating for the company in a research note on Friday, December 20th. Oppenheimer downgraded shares of Vertex Pharmaceuticals from an “outperform” rating to a “market perform” rating in a research report on Thursday, December 19th. Bank of America reduced their price target on shares of Vertex Pharmaceuticals from $545.00 to $522.00 and set a “buy” rating for the company in a report on Thursday, December 19th. Finally, Truist Financial dropped their price objective on shares of Vertex Pharmaceuticals from $550.00 to $460.00 and set a “buy” rating on the stock in a report on Monday, December 23rd. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Vertex Pharmaceuticals has an average rating of “Moderate Buy” and a consensus price target of $490.38.

Vertex Pharmaceuticals Stock Performance

Shares of NASDAQ VRTX traded down $0.76 during mid-day trading on Friday, reaching $411.35. 321,258 shares of the company’s stock were exchanged, compared to its average volume of 1,266,006. The firm has a 50-day moving average price of $450.11 and a two-hundred day moving average price of $468.49. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.47 and a quick ratio of 2.20. The firm has a market capitalization of $105.93 billion, a price-to-earnings ratio of -206.71 and a beta of 0.40. Vertex Pharmaceuticals Incorporated has a 52 week low of $377.85 and a 52 week high of $519.88.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings data on Monday, November 4th. The pharmaceutical company reported $4.38 EPS for the quarter, topping the consensus estimate of $3.61 by $0.77. Vertex Pharmaceuticals had a negative net margin of 4.52% and a negative return on equity of 1.91%. The business had revenue of $2.77 billion for the quarter, compared to analyst estimates of $2.69 billion. During the same quarter in the previous year, the firm posted $3.67 earnings per share. The company’s revenue for the quarter was up 11.6% on a year-over-year basis. Analysts predict that Vertex Pharmaceuticals Incorporated will post -1.83 EPS for the current year.

Vertex Pharmaceuticals 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.