Baldwin Investment Management LLC Buys 1,207 Shares of Vertex Pharmaceuticals Incorporated $VRTX

Baldwin Investment Management LLC boosted its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 8.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 15,748 shares of the pharmaceutical company’s stock after purchasing an additional 1,207 shares during the quarter. Vertex Pharmaceuticals comprises approximately 0.7% of Baldwin Investment Management LLC’s investment portfolio, making the stock its 16th largest holding. Baldwin Investment Management LLC’s holdings in Vertex Pharmaceuticals were worth $6,168,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Norges Bank purchased a new stake in shares of Vertex Pharmaceuticals during the 2nd quarter valued at $1,593,974,000. Jennison Associates LLC grew its position in Vertex Pharmaceuticals by 21.5% during the second quarter. Jennison Associates LLC now owns 6,151,505 shares of the pharmaceutical company’s stock valued at $2,738,650,000 after buying an additional 1,089,063 shares during the period. Assenagon Asset Management S.A. increased its holdings in Vertex Pharmaceuticals by 214.6% during the third quarter. Assenagon Asset Management S.A. now owns 763,703 shares of the pharmaceutical company’s stock worth $299,097,000 after buying an additional 520,949 shares during the last quarter. Vanguard Group Inc. raised its position in Vertex Pharmaceuticals by 2.1% in the second quarter. Vanguard Group Inc. now owns 23,973,777 shares of the pharmaceutical company’s stock worth $10,673,126,000 after acquiring an additional 482,616 shares during the period. Finally, Alliancebernstein L.P. boosted its stake in Vertex Pharmaceuticals by 10.7% in the second quarter. Alliancebernstein L.P. now owns 4,378,320 shares of the pharmaceutical company’s stock valued at $1,949,228,000 after acquiring an additional 424,808 shares during the last quarter. 90.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on VRTX. UBS Group lifted their price target on shares of Vertex Pharmaceuticals from $535.00 to $545.00 and gave the stock a “buy” rating in a report on Monday, January 26th. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $577.00 price target on shares of Vertex Pharmaceuticals in a research report on Friday, February 13th. Stifel Nicolaus increased their price target on Vertex Pharmaceuticals from $445.00 to $466.00 and gave the stock a “hold” rating in a research note on Friday, February 13th. Evercore boosted their price objective on Vertex Pharmaceuticals from $475.00 to $530.00 and gave the company an “outperform” rating in a research note on Friday, January 23rd. Finally, Oppenheimer raised shares of Vertex Pharmaceuticals from a “market perform” rating to an “outperform” rating and set a $540.00 price objective on the stock in a report on Friday, February 13th. Twenty-two equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, Vertex Pharmaceuticals presently has an average rating of “Moderate Buy” and an average target price of $542.00.

Vertex Pharmaceuticals Price Performance

Shares of VRTX stock opened at $481.01 on Tuesday. The stock has a market capitalization of $122.19 billion, a PE ratio of 31.38 and a beta of 0.30. The business has a 50-day moving average of $463.76 and a 200 day moving average of $429.57. Vertex Pharmaceuticals Incorporated has a 1-year low of $362.50 and a 1-year high of $519.68.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its quarterly earnings data on Thursday, February 12th. The pharmaceutical company reported $5.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.05 by ($0.02). The firm had revenue of $3.19 billion during the quarter, compared to analysts’ expectations of $3.18 billion. Vertex Pharmaceuticals had a net margin of 32.94% and a return on equity of 24.30%. Vertex Pharmaceuticals’s revenue was up 9.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.98 EPS. Analysts anticipate that Vertex Pharmaceuticals Incorporated will post 15.63 EPS for the current year.

Insider Transactions at Vertex Pharmaceuticals

In related news, EVP Jonathan Biller sold 1,925 shares of the business’s stock in a transaction dated Wednesday, February 11th. The shares were sold at an average price of $460.43, for a total transaction of $886,327.75. Following the transaction, the executive vice president owned 20,819 shares in the company, valued at $9,585,692.17. The trade was a 8.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Mark E. Bunnage sold 2,021 shares of the stock in a transaction that occurred on Wednesday, February 11th. The stock was sold at an average price of $460.43, for a total value of $930,529.03. Following the completion of the transaction, the executive vice president directly owned 12,914 shares of the company’s stock, valued at $5,945,993.02. This represents a 13.53% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 100,852 shares of company stock worth $45,787,299. 0.20% of the stock is owned by corporate insiders.

Vertex Pharmaceuticals Profile

Vertex Pharmaceuticals Inc is a Boston-based biotechnology company focused on the discovery, development and commercialization of therapies for serious diseases. Founded in 1989, Vertex built its reputation on research-driven drug development and is best known for its work in cystic fibrosis (CF), where its portfolio of small-molecule CFTR modulators transformed standards of care for many people with the disease. The company operates research and development, manufacturing and commercial organizations and serves patients and healthcare systems in multiple international markets.

Vertex’s marketed products center on CFTR modulators that target the underlying cause of cystic fibrosis rather than just treating symptoms.