InTrack Investment Management Inc Has $661,000 Holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

InTrack Investment Management Inc lessened its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 10.8% during the 3rd quarter, Holdings Channel reports. The firm owned 1,422 shares of the pharmaceutical company’s stock after selling 173 shares during the period. InTrack Investment Management Inc’s holdings in Vertex Pharmaceuticals were worth $661,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Annapolis Financial Services LLC bought a new position in Vertex Pharmaceuticals in the first quarter valued at approximately $27,000. GHP Investment Advisors Inc. acquired a new position in shares of Vertex Pharmaceuticals in the second quarter valued at about $29,000. Stephens Consulting LLC acquired a new position in shares of Vertex Pharmaceuticals in the second quarter valued at about $31,000. Founders Capital Management increased its position in Vertex Pharmaceuticals by 50.0% during the second quarter. Founders Capital Management now owns 75 shares of the pharmaceutical company’s stock worth $35,000 after acquiring an additional 25 shares during the period. Finally, ZRC Wealth Management LLC acquired a new stake in Vertex Pharmaceuticals in the 1st quarter worth about $39,000. Institutional investors and hedge funds own 90.96% of the company’s stock.

Vertex Pharmaceuticals Trading Up 1.2 %

NASDAQ:VRTX opened at $481.71 on Friday. Vertex Pharmaceuticals Incorporated has a 1 year low of $341.90 and a 1 year high of $510.64. The stock’s fifty day moving average price is $473.48 and its two-hundred day moving average price is $457.39. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.52 and a quick ratio of 2.26. The company has a market cap of $124.33 billion, a P/E ratio of -237.30 and a beta of 0.40.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings data on Thursday, August 1st. The pharmaceutical company reported ($12.83) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($12.54) by ($0.29). The company had revenue of $2.65 billion for the quarter, compared to analysts’ expectations of $2.66 billion. Vertex Pharmaceuticals had a negative return on equity of 2.45% and a negative net margin of 4.74%. The business’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same period last year, the company posted $3.53 EPS. As a group, analysts expect that Vertex Pharmaceuticals Incorporated will post -2.14 EPS for the current year.

Analysts Set New Price Targets

VRTX has been the topic of a number of analyst reports. TD Cowen increased their price target on Vertex Pharmaceuticals from $450.00 to $500.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. Needham & Company LLC restated a “hold” rating on shares of Vertex Pharmaceuticals in a research report on Friday, July 26th. HC Wainwright upped their price target on shares of Vertex Pharmaceuticals from $500.00 to $600.00 and gave the stock a “buy” rating in a report on Monday, August 5th. Barclays lowered Vertex Pharmaceuticals from an “overweight” rating to an “equal weight” rating and raised their price objective for the company from $472.00 to $509.00 in a research note on Monday, August 5th. Finally, Argus upped their price objective on shares of Vertex Pharmaceuticals from $465.00 to $550.00 and gave the stock a “buy” rating in a research report on Monday, June 17th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, Vertex Pharmaceuticals presently has a consensus rating of “Hold” and an average price target of $486.95.

Insider Activity

In related news, Director Bruce I. Sachs sold 5,295 shares of Vertex Pharmaceuticals stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $508.00, for a total transaction of $2,689,860.00. Following the completion of the sale, the director now owns 40,000 shares of the company’s stock, valued at approximately $20,320,000. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Sangeeta N. Bhatia sold 646 shares of Vertex Pharmaceuticals stock in a transaction on Friday, August 30th. The shares were sold at an average price of $500.00, for a total transaction of $323,000.00. Following the completion of the sale, the director now directly owns 4,435 shares of the company’s stock, valued at approximately $2,217,500. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Bruce I. Sachs sold 5,295 shares of the stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $508.00, for a total value of $2,689,860.00. Following the completion of the transaction, the director now directly owns 40,000 shares in the company, valued at approximately $20,320,000. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 29,487 shares of company stock worth $14,657,149. 0.20% of the stock is owned by company insiders.

About Vertex Pharmaceuticals

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.