Baker Tilly Wealth Management LLC Grows Stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Baker Tilly Wealth Management LLC lifted its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 57.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,988 shares of the pharmaceutical company's stock after acquiring an additional 1,092 shares during the period. Baker Tilly Wealth Management LLC's holdings in Vertex Pharmaceuticals were worth $1,449,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Brown Lisle Cummings Inc. bought a new stake in Vertex Pharmaceuticals during the 4th quarter worth approximately $30,000. Mascagni Wealth Management Inc. acquired a new position in Vertex Pharmaceuticals during the fourth quarter valued at approximately $31,000. Golden State Wealth Management LLC bought a new position in Vertex Pharmaceuticals in the fourth quarter valued at approximately $37,000. Truvestments Capital LLC increased its position in shares of Vertex Pharmaceuticals by 30.3% during the 4th quarter. Truvestments Capital LLC now owns 99 shares of the pharmaceutical company's stock worth $40,000 after purchasing an additional 23 shares during the last quarter. Finally, Mpwm Advisory Solutions LLC bought a new stake in shares of Vertex Pharmaceuticals during the 4th quarter worth approximately $40,000. 90.96% of the stock is owned by institutional investors.

Vertex Pharmaceuticals Price Performance

NASDAQ VRTX traded up $1.16 on Tuesday, hitting $446.59. The stock had a trading volume of 1,683,297 shares, compared to its average volume of 1,420,821. The company has a market capitalization of $114.68 billion, a price-to-earnings ratio of -203.00, a price-to-earnings-growth ratio of 2.11 and a beta of 0.51. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.35 and a current ratio of 2.69. The firm has a 50-day moving average of $468.57 and a 200-day moving average of $460.61. Vertex Pharmaceuticals Incorporated has a 52-week low of $377.85 and a 52-week high of $519.88.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last issued its earnings results on Monday, May 5th. The pharmaceutical company reported $4.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.29 by ($0.23). The firm had revenue of $2.77 billion during the quarter, compared to analysts' expectations of $2.85 billion. Vertex Pharmaceuticals had a negative return on equity of 2.02% and a negative net margin of 4.86%. The firm's quarterly revenue was up 2.6% compared to the same quarter last year. During the same period in the prior year, the company earned $4.76 EPS. Equities analysts expect that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current year.

Insider Transactions at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, EVP David Altshuler sold 3,231 shares of the stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $500.00, for a total value of $1,615,500.00. Following the completion of the sale, the executive vice president now owns 26,512 shares in the company, valued at approximately $13,256,000. This trade represents a 10.86% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.20% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. William Blair reiterated an "outperform" rating on shares of Vertex Pharmaceuticals in a report on Tuesday, May 6th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $535.00 price target on shares of Vertex Pharmaceuticals in a research note on Tuesday, May 6th. Needham & Company LLC restated a "hold" rating on shares of Vertex Pharmaceuticals in a research report on Tuesday, May 6th. Royal Bank of Canada boosted their target price on shares of Vertex Pharmaceuticals from $420.00 to $423.00 and gave the company a "sector perform" rating in a research report on Tuesday, May 6th. Finally, Bank of America increased their target price on shares of Vertex Pharmaceuticals from $555.00 to $567.00 and gave the stock a "buy" rating in a research report on Monday, March 31st. Fourteen equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $515.04.

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.