InTrack Investment Management Inc Purchases Shares of 1,544 Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

InTrack Investment Management Inc purchased a new position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,544 shares of the pharmaceutical company’s stock, valued at approximately $645,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in VRTX. University of Texas Texas AM Investment Managment Co. purchased a new stake in shares of Vertex Pharmaceuticals in the 4th quarter valued at about $25,000. Annapolis Financial Services LLC purchased a new stake in Vertex Pharmaceuticals in the first quarter valued at approximately $27,000. Arlington Trust Co LLC lifted 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 valued at $27,000 after purchasing an additional 33 shares during the last quarter. ICA Group Wealth Management LLC purchased a new position in Vertex Pharmaceuticals in the 4th quarter worth approximately $28,000. Finally, Fortitude Family Office LLC bought a new position in shares of Vertex Pharmaceuticals in the 4th quarter worth $30,000. Hedge funds and other institutional investors own 90.96% of the company’s stock.

Insider Activity

In related news, CMO Carmen Bozic sold 2,280 shares of the company’s stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $478.00, for a total value of $1,089,840.00. Following the sale, the chief marketing officer now directly owns 32,379 shares of the company’s stock, valued at $15,477,162. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, EVP Edward Morrow Atkinson III sold 7,288 shares of the business’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $478.00, for a total transaction of $3,483,664.00. Following the sale, the executive vice president now owns 15,972 shares of the company’s stock, valued at $7,634,616. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CMO Carmen Bozic sold 2,280 shares of the firm’s stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $478.00, for a total transaction of $1,089,840.00. Following the transaction, the chief marketing officer now directly owns 32,379 shares of the company’s stock, valued at approximately $15,477,162. The disclosure for this sale can be found here. Insiders sold a total of 28,366 shares of company stock worth $13,058,787 in the last quarter. 0.20% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of analysts have recently issued reports on VRTX shares. Wells Fargo & Company lifted their price objective on shares of Vertex Pharmaceuticals from $540.00 to $555.00 and gave the stock an “overweight” rating in a report on Monday, June 24th. Redburn Atlantic began coverage on Vertex Pharmaceuticals in a report on Thursday, June 27th. They issued a “buy” rating and a $545.00 price objective for the company. Evercore ISI raised Vertex Pharmaceuticals from an “in-line” rating to an “outperform” rating and set a $438.00 price objective on the stock in a report on Thursday, April 11th. Oppenheimer reaffirmed an “outperform” rating and issued a $500.00 target price on shares of Vertex Pharmaceuticals in a research note on Monday, April 15th. Finally, BMO Capital Markets lifted their price target on shares of Vertex Pharmaceuticals from $480.00 to $500.00 and gave the stock an “outperform” rating in a research note on Friday, May 31st. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $448.61.

Vertex Pharmaceuticals Trading Up 0.5 %

Shares of VRTX traded up $2.53 during mid-day trading on Tuesday, hitting $473.78. 852,503 shares of the company’s stock traded hands, compared to its average volume of 1,238,103. 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 firm has a market capitalization of $122.26 billion, a P/E ratio of 30.77, a PEG ratio of 2.41 and a beta of 0.39. The business’s 50-day moving average price is $446.31 and its 200-day moving average price is $427.25. Vertex Pharmaceuticals Incorporated has a 1 year low of $335.82 and a 1 year high of $486.42.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings data 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 net margin of 39.46% and a return on equity of 23.08%. The business had revenue of $2.69 billion for the quarter, compared to the consensus estimate of $2.58 billion. During the same period in the previous year, the firm earned $2.67 EPS. The company’s quarterly revenue was up 13.3% compared to the same quarter last year. As a group, sell-side analysts forecast that Vertex Pharmaceuticals Incorporated will post 15.22 EPS 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.