Baker Tilly Wealth Management LLC Sells 80 Shares of Vertex Pharmaceuticals Incorporated $VRTX

Baker Tilly Wealth Management LLC decreased its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 2.7% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 2,908 shares of the pharmaceutical company’s stock after selling 80 shares during the period. Baker Tilly Wealth Management LLC’s holdings in Vertex Pharmaceuticals were worth $1,295,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. United Services Automobile Association bought a new stake in shares of Vertex Pharmaceuticals during the 1st quarter worth about $2,933,000. Aries Wealth Management acquired a new stake in Vertex Pharmaceuticals in the 1st quarter worth about $293,000. New England Research & Management Inc. acquired a new stake in Vertex Pharmaceuticals in the 2nd quarter worth about $472,000. Paladin Wealth LLC acquired a new stake in Vertex Pharmaceuticals in the 2nd quarter worth about $552,000. Finally, Brighton Jones LLC raised its stake in Vertex Pharmaceuticals by 45.0% in the 1st quarter. Brighton Jones LLC now owns 6,421 shares of the pharmaceutical company’s stock worth $3,113,000 after purchasing an additional 1,994 shares in the last quarter. Institutional investors own 90.96% of the company’s stock.

Vertex Pharmaceuticals Stock Performance

NASDAQ:VRTX opened at $387.15 on Thursday. The firm’s fifty day moving average is $418.00 and its 200-day moving average is $451.75. Vertex Pharmaceuticals Incorporated has a 52 week low of $362.50 and a 52 week high of $519.88. The firm has a market cap of $99.26 billion, a P/E ratio of 27.67 and a beta of 0.44.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly earnings data on Monday, August 4th. The pharmaceutical company reported $4.52 EPS for the quarter, beating analysts’ consensus estimates of $4.24 by $0.28. Vertex Pharmaceuticals had a net margin of 31.86% and a return on equity of 23.91%. The company had revenue of $2.94 billion for the quarter, compared to analyst estimates of $2.90 billion. During the same period in the prior year, the firm posted ($12.83) EPS. The company’s quarterly revenue was up 11.3% on a year-over-year basis. Vertex Pharmaceuticals has set its FY 2025 guidance at EPS. As a group, sell-side analysts anticipate that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current year.

Insider Activity at Vertex Pharmaceuticals

In other news, Director Bruce I. Sachs acquired 5,000 shares of Vertex Pharmaceuticals stock in a transaction dated Wednesday, August 6th. The shares were bought at an average cost of $389.68 per share, with a total value of $1,948,400.00. Following the purchase, the director owned 45,000 shares in the company, valued at $17,535,600. This trade represents a 12.50% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.20% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on VRTX. HC Wainwright dropped their price objective on shares of Vertex Pharmaceuticals from $550.00 to $478.00 and set a “buy” rating for the company in a research note on Tuesday, August 5th. Guggenheim dropped their price objective on shares of Vertex Pharmaceuticals from $558.00 to $546.00 and set a “buy” rating for the company in a research note on Wednesday, August 6th. UBS Group set a $553.00 price objective on shares of Vertex Pharmaceuticals and gave the stock a “buy” rating in a research note on Tuesday, August 5th. Royal Bank Of Canada dropped their target price on shares of Vertex Pharmaceuticals from $430.00 to $405.00 and set a “sector perform” rating for the company in a research report on Tuesday, August 5th. Finally, Morgan Stanley set a $439.00 target price on shares of Vertex Pharmaceuticals and gave the company an “equal weight” rating in a research report on Tuesday, August 5th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and thirteen have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $496.05.

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.