Baldwin Wealth Partners LLC MA Sells 878 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Baldwin Wealth Partners LLC MA reduced its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 9.8% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 8,119 shares of the pharmaceutical company's stock after selling 878 shares during the period. Baldwin Wealth Partners LLC MA's holdings in Vertex Pharmaceuticals were worth $3,936,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of VRTX. Mascagni Wealth Management Inc. purchased a new position in Vertex Pharmaceuticals during the 4th quarter worth $31,000. Golden State Wealth Management LLC bought a new position in shares of Vertex Pharmaceuticals during the fourth quarter valued at about $37,000. Truvestments Capital LLC boosted its holdings in Vertex Pharmaceuticals by 30.3% during the fourth 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. Mpwm Advisory Solutions LLC bought a new stake in Vertex Pharmaceuticals in the 4th quarter worth about $40,000. Finally, Midwest Capital Advisors LLC bought a new stake in Vertex Pharmaceuticals in the 4th quarter worth about $41,000. 90.96% of the stock is owned by hedge funds and other institutional investors.

Vertex Pharmaceuticals Price Performance

Vertex Pharmaceuticals stock opened at $450.50 on Monday. The stock has a market cap of $115.69 billion, a price-to-earnings ratio of -204.77, a PEG ratio of 2.11 and a beta of 0.41. The company has a quick ratio of 2.35, a current ratio of 2.69 and a debt-to-equity ratio of 0.01. The business has a 50-day simple moving average of $465.01 and a 200 day simple moving average of $460.40. 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 quarterly earnings data on Monday, May 5th. The pharmaceutical company reported $4.06 EPS for the quarter, missing the consensus estimate of $4.29 by ($0.23). The business had revenue of $2.77 billion for 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 revenue for the quarter was up 2.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $4.76 EPS. On average, research analysts forecast that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on VRTX. Morgan Stanley boosted their target price on Vertex Pharmaceuticals from $462.00 to $464.00 and gave the stock an "equal weight" rating in a research note on Tuesday, May 6th. William Blair reiterated an "outperform" rating on shares of Vertex Pharmaceuticals in a report on Tuesday, May 6th. Wolfe Research downgraded Vertex Pharmaceuticals from an "outperform" rating to a "peer perform" rating in a research note on Wednesday, May 7th. Erste Group Bank lowered Vertex Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research report on Friday, May 23rd. Finally, JPMorgan Chase & Co. boosted their price target on shares of Vertex Pharmaceuticals from $512.00 to $515.00 and gave the stock an "overweight" rating in a report on Tuesday, May 6th. Fourteen research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Vertex Pharmaceuticals has a consensus rating of "Moderate Buy" and an average target price of $515.04.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.