InTrack Investment Management Inc Buys 710 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

InTrack Investment Management Inc increased its holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 49.9% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 2,132 shares of the pharmaceutical company's stock after buying an additional 710 shares during the quarter. InTrack Investment Management Inc's holdings in Vertex Pharmaceuticals were worth $878,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the business. Edgewood Management LLC grew its holdings in shares of Vertex Pharmaceuticals by 7,876.3% in the third quarter. Edgewood Management LLC now owns 1,546,370 shares of the pharmaceutical company's stock worth $719,186,000 after acquiring an additional 1,526,983 shares during the period. Jennison Associates LLC grew its stake in shares of Vertex Pharmaceuticals by 18.1% during the 3rd quarter. Jennison Associates LLC now owns 5,550,386 shares of the pharmaceutical company's stock valued at $2,581,373,000 after purchasing an additional 851,054 shares during the period. Wellington Management Group LLP increased its position in shares of Vertex Pharmaceuticals by 17.2% during the 3rd quarter. Wellington Management Group LLP now owns 4,798,870 shares of the pharmaceutical company's stock valued at $2,231,858,000 after purchasing an additional 704,421 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of Vertex Pharmaceuticals by 169.4% in the fourth quarter. Assenagon Asset Management S.A. now owns 839,672 shares of the pharmaceutical company's stock worth $338,136,000 after buying an additional 528,029 shares during the last quarter. Finally, International Assets Investment Management LLC grew its position in Vertex Pharmaceuticals by 74,015.5% during the third quarter. International Assets Investment Management LLC now owns 324,626 shares of the pharmaceutical company's stock valued at $150,977,000 after buying an additional 324,188 shares during the period. Hedge funds and other institutional investors own 90.96% of the company's stock.

Vertex Pharmaceuticals Price Performance

Shares of Vertex Pharmaceuticals stock traded up $5.04 during trading hours on Friday, reaching $422.00. The company's stock had a trading volume of 1,771,827 shares, compared to its average volume of 1,811,179. The firm has a 50 day moving average price of $440.94 and a 200-day moving average price of $466.09. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.47 and a quick ratio of 2.20. The stock has a market cap of $108.68 billion, a P/E ratio of -212.06, a P/E/G ratio of 2.11 and a beta of 0.40. Vertex Pharmaceuticals Incorporated has a one year low of $377.85 and a one year high of $519.88.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last issued its quarterly earnings data on Monday, November 4th. The pharmaceutical company reported $4.38 earnings per share for the quarter, topping the consensus estimate of $3.61 by $0.77. The company had revenue of $2.77 billion for the quarter, compared to analysts' expectations of $2.69 billion. Vertex Pharmaceuticals had a negative return on equity of 1.91% and a negative net margin of 4.52%. The firm's revenue for the quarter was up 11.6% on a year-over-year basis. During the same period in the previous year, the firm posted $3.67 earnings per share. On average, analysts predict that Vertex Pharmaceuticals Incorporated will post -1.9 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have weighed in on VRTX shares. Jefferies Financial Group upgraded shares of Vertex Pharmaceuticals from a "hold" rating to a "buy" rating and increased their price target for the stock from $500.00 to $550.00 in a research report on Monday, December 9th. Citigroup initiated coverage on Vertex Pharmaceuticals in a report on Thursday, November 14th. They issued a "buy" rating and a $575.00 target price on the stock. Truist Financial cut their price target on Vertex Pharmaceuticals from $550.00 to $460.00 and set a "buy" rating for the company in a report on Monday, December 23rd. Raymond James reaffirmed a "market perform" rating on shares of Vertex Pharmaceuticals in a research note on Thursday, October 10th. Finally, William Blair reiterated an "outperform" rating on shares of Vertex Pharmaceuticals in a research note on Monday, January 13th. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $490.38.

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.