Baldwin Investment Management LLC Buys 135 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Baldwin Investment Management LLC grew its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 1.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,891 shares of the pharmaceutical company’s stock after buying an additional 135 shares during the quarter. Vertex Pharmaceuticals makes up about 0.7% of Baldwin Investment Management LLC’s investment portfolio, making the stock its 18th biggest position. Baldwin Investment Management LLC’s holdings in Vertex Pharmaceuticals were worth $5,530,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of VRTX. Jennison Associates LLC lifted its position in shares of Vertex Pharmaceuticals by 18.1% during the third quarter. Jennison Associates LLC now owns 5,550,386 shares of the pharmaceutical company’s stock worth $2,581,373,000 after purchasing an additional 851,054 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in Vertex Pharmaceuticals by 5.8% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,905,705 shares of the pharmaceutical company’s stock worth $1,351,385,000 after purchasing an additional 159,693 shares during the last quarter. Legal & General Group Plc lifted its holdings in Vertex Pharmaceuticals by 1.2% during the 2nd quarter. Legal & General Group Plc now owns 2,422,677 shares of the pharmaceutical company’s stock worth $1,135,556,000 after buying an additional 29,104 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in Vertex Pharmaceuticals by 1.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,626,347 shares of the pharmaceutical company’s stock valued at $756,381,000 after buying an additional 20,361 shares during the last quarter. Finally, Edgewood Management LLC increased its stake in shares of Vertex Pharmaceuticals by 7,876.3% in the 3rd quarter. Edgewood Management LLC now owns 1,546,370 shares of the pharmaceutical company’s stock valued at $719,186,000 after buying an additional 1,526,983 shares during the period. Institutional investors and hedge funds own 90.96% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on VRTX. JPMorgan Chase & Co. decreased their price target on Vertex Pharmaceuticals from $510.00 to $503.00 and set an “overweight” rating on the stock in a report on Tuesday, November 5th. Canaccord Genuity Group upped their price objective on Vertex Pharmaceuticals from $361.00 to $408.00 and gave the company a “sell” rating in a report on Wednesday, November 6th. Citigroup started coverage on Vertex Pharmaceuticals in a research report on Thursday, November 14th. They set a “buy” rating and a $575.00 price target on the stock. HC Wainwright reiterated a “buy” rating and set a $600.00 price objective on shares of Vertex Pharmaceuticals in a report on Monday, October 21st. Finally, Piper Sandler increased their target price on Vertex Pharmaceuticals from $500.00 to $535.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Vertex Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus target price of $504.38.

Insider Transactions at Vertex Pharmaceuticals

In related news, Chairman Jeffrey M. Leiden sold 3,784 shares of the stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $499.00, for a total transaction of $1,888,216.00. Following the sale, the chairman now owns 9,994 shares of the company’s stock, valued at $4,987,006. This represents a 27.46 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Sangeeta N. Bhatia sold 646 shares of the firm’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $500.00, for a total value of $323,000.00. Following the transaction, the director now owns 4,435 shares in the company, valued at approximately $2,217,500. This trade represents a 12.71 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 4,445 shares of company stock valued at $2,218,394. 0.20% of the stock is currently owned by corporate insiders.

Vertex Pharmaceuticals Stock Performance

Shares of NASDAQ VRTX opened at $467.07 on Wednesday. Vertex Pharmaceuticals Incorporated has a 12 month low of $346.29 and a 12 month high of $519.88. The stock has a 50 day moving average of $473.27 and a 200-day moving average of $474.35. The company has a current ratio of 2.47, a quick ratio of 2.20 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $120.28 billion, a P/E ratio of -234.71 and a beta of 0.39.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its earnings results on Monday, November 4th. The pharmaceutical company reported $4.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company had revenue of $2.77 billion during the quarter, compared to analysts’ expectations of $2.69 billion. During the same quarter last year, the company posted $3.67 EPS. Vertex Pharmaceuticals’s quarterly revenue was up 11.6% compared to the same quarter last year. As a group, equities research 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.