Baker Tilly Wealth Management LLC Reduces Stock Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

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

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Northwest Investment Counselors LLC bought a new position in shares of Vertex Pharmaceuticals in the third quarter valued at approximately $25,000. Dunhill Financial LLC boosted its holdings in Vertex Pharmaceuticals by 70.6% in the 3rd quarter. Dunhill Financial LLC now owns 58 shares of the pharmaceutical company’s stock valued at $27,000 after purchasing an additional 24 shares during the period. Highline Wealth Partners LLC purchased a new position in shares of Vertex Pharmaceuticals during the 3rd quarter valued at $27,000. GHP Investment Advisors Inc. bought a new position in shares of Vertex Pharmaceuticals in the second quarter worth $29,000. Finally, Legacy Investment Solutions LLC bought a new position in shares of Vertex Pharmaceuticals in the third quarter worth $33,000. 90.96% of the stock is currently owned by institutional investors.

Vertex Pharmaceuticals Trading Down 0.2 %

Shares of NASDAQ VRTX traded down $0.76 during midday trading on Friday, hitting $411.35. 321,258 shares of the company traded hands, compared to its average volume of 1,266,006. Vertex Pharmaceuticals Incorporated has a 12-month low of $377.85 and a 12-month high of $519.88. The firm has a market cap of $105.93 billion, a P/E ratio of -206.71 and a beta of 0.40. The stock has a 50-day moving average price of $450.11 and a 200 day moving average price of $468.49. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.20 and a current ratio of 2.47.

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

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Wells Fargo & Company reduced their target price on Vertex Pharmaceuticals from $555.00 to $460.00 and set an “overweight” rating for the company in a research report on Friday. Barclays decreased their price objective on shares of Vertex Pharmaceuticals from $509.00 to $418.00 and set an “equal weight” rating on the stock in a research report on Friday, December 20th. BMO Capital Markets cut their price target on shares of Vertex Pharmaceuticals from $566.00 to $520.00 and set an “outperform” rating for the company in a research note on Friday, December 20th. Cantor Fitzgerald restated an “overweight” rating and set a $480.00 price objective on shares of Vertex Pharmaceuticals in a research report on Tuesday, November 5th. Finally, StockNews.com lowered shares of Vertex Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Thursday, November 21st. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $490.38.

About Vertex Pharmaceuticals

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.