Baker Ellis Asset Management LLC Buys New Shares in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Baker Ellis Asset Management LLC bought a new stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 610 shares of the pharmaceutical company’s stock, valued at approximately $255,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. University of Texas Texas AM Investment Managment Co. bought a new position in Vertex Pharmaceuticals during the fourth quarter worth $25,000. Arlington Trust Co LLC boosted its position in Vertex Pharmaceuticals by 97.1% during the fourth quarter. Arlington Trust Co LLC now owns 67 shares of the pharmaceutical company’s stock worth $27,000 after purchasing an additional 33 shares during the period. ICA Group Wealth Management LLC bought a new position in Vertex Pharmaceuticals during the fourth quarter worth $28,000. Fortitude Family Office LLC bought a new position in Vertex Pharmaceuticals during the fourth quarter worth $30,000. Finally, Baystate Wealth Management LLC boosted its position in Vertex Pharmaceuticals by 49.0% during the fourth quarter. Baystate Wealth Management LLC now owns 76 shares of the pharmaceutical company’s stock worth $31,000 after purchasing an additional 25 shares during the period. 90.96% of the stock is owned by institutional investors.

Insider Transactions at Vertex Pharmaceuticals

In other news, CEO Reshma Kewalramani sold 1,565 shares of the business’s stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $457.00, for a total transaction of $715,205.00. Following the sale, the chief executive officer now directly owns 121,374 shares in the company, valued at $55,467,918. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CEO Reshma Kewalramani sold 1,565 shares of the business’s stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $457.00, for a total transaction of $715,205.00. Following the sale, the chief executive officer now directly owns 121,374 shares in the company, valued at $55,467,918. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CMO Carmen Bozic sold 2,280 shares of the business’s stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $445.56, for a total value of $1,015,876.80. Following the sale, the chief marketing officer now owns 34,659 shares in the company, valued at $15,442,664.04. The disclosure for this sale can be found here. Over the last three months, insiders have sold 28,366 shares of company stock worth $13,058,787. Insiders own 0.20% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. StockNews.com cut shares of Vertex Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Monday, June 24th. HC Wainwright reaffirmed a “buy” rating and set a $462.00 price objective on shares of Vertex Pharmaceuticals in a research report on Tuesday, May 7th. Guggenheim lifted their price objective on shares of Vertex Pharmaceuticals from $445.00 to $450.00 and gave the stock a “buy” rating in a research report on Thursday, April 18th. Argus lifted their target price on Vertex Pharmaceuticals from $465.00 to $550.00 and gave the stock a “buy” rating in a report on Monday, June 17th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Vertex Pharmaceuticals in a report on Tuesday, May 7th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat.com, Vertex Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus target price of $448.61.

Vertex Pharmaceuticals Stock Performance

Vertex Pharmaceuticals stock opened at $468.72 on Friday. Vertex Pharmaceuticals Incorporated has a 12-month low of $335.82 and a 12-month high of $486.42. The company has a quick ratio of 3.29, a current ratio of 3.50 and a debt-to-equity ratio of 0.02. The business’s 50-day moving average price is $444.89 and its two-hundred day moving average price is $426.64. The stock has a market cap of $120.95 billion, a PE ratio of 30.42, a P/E/G ratio of 2.41 and a beta of 0.41.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its earnings results on Monday, May 6th. The pharmaceutical company reported $4.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.66 by $1.10. Vertex Pharmaceuticals had a return on equity of 23.08% and a net margin of 39.46%. The firm had revenue of $2.69 billion for the quarter, compared to analysts’ expectations of $2.58 billion. During the same quarter in the previous year, the business posted $2.67 earnings per share. The business’s revenue for the quarter was up 13.3% on a year-over-year basis. As a group, analysts expect that Vertex Pharmaceuticals Incorporated will post 15.22 earnings per share for the current fiscal 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.