Wall Street brokerages predict that Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) will announce earnings of $1.00 per share for the current quarter, Zacks Investment Research reports. Ten analysts have provided estimates for Vertex Pharmaceuticals’ earnings, with estimates ranging from $0.95 to $1.06. Vertex Pharmaceuticals posted earnings of $0.53 per share in the same quarter last year, which would suggest a positive year over year growth rate of 88.7%. The business is scheduled to issue its next quarterly earnings report on Wednesday, October 24th.
On average, analysts expect that Vertex Pharmaceuticals will report full-year earnings of $3.75 per share for the current financial year, with EPS estimates ranging from $3.55 to $3.92. For the next financial year, analysts anticipate that the business will post earnings of $4.39 per share, with EPS estimates ranging from $3.38 to $5.62. Zacks Investment Research’s EPS averages are a mean average based on a survey of research analysts that cover Vertex Pharmaceuticals.
Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly earnings data on Wednesday, July 25th. The pharmaceutical company reported $0.94 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.40 by $0.54. Vertex Pharmaceuticals had a net margin of 15.84% and a return on equity of 19.86%. The business had revenue of $752.20 million for the quarter, compared to analysts’ expectations of $680.86 million. During the same quarter in the previous year, the business posted $0.39 earnings per share. The business’s revenue was up 38.2% compared to the same quarter last year.
A number of research analysts have weighed in on VRTX shares. Piper Jaffray Companies boosted their price objective on shares of Vertex Pharmaceuticals to $230.00 and gave the company an “overweight” rating in a research report on Thursday, July 26th. BidaskClub cut shares of Vertex Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Thursday, September 20th. Zacks Investment Research cut shares of Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Friday, August 31st. Argus boosted their price objective on shares of Vertex Pharmaceuticals to $200.00 and gave the company an “average” rating in a research report on Tuesday, August 28th. They noted that the move was a valuation call. Finally, Royal Bank of Canada reiterated a “buy” rating and set a $203.00 price objective on shares of Vertex Pharmaceuticals in a research report on Thursday, July 26th. Four research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $197.68.
In other news, CFO Thomas Graney sold 1,076 shares of the business’s stock in a transaction on Monday, October 1st. The shares were sold at an average price of $193.24, for a total transaction of $207,926.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Stuart A. Arbuckle sold 10,083 shares of the business’s stock in a transaction on Friday, August 3rd. The shares were sold at an average price of $175.29, for a total transaction of $1,767,449.07. Following the sale, the executive vice president now directly owns 48,877 shares of the company’s stock, valued at $8,567,649.33. The disclosure for this sale can be found here. Insiders have sold 33,325 shares of company stock valued at $6,135,340 over the last three months. Insiders own 0.75% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC lifted its stake in Vertex Pharmaceuticals by 42.1% in the second quarter. Renaissance Technologies LLC now owns 4,050,617 shares of the pharmaceutical company’s stock worth $688,443,000 after acquiring an additional 1,199,700 shares during the period. Wells Fargo & Company MN lifted its stake in Vertex Pharmaceuticals by 4.1% in the second quarter. Wells Fargo & Company MN now owns 2,087,508 shares of the pharmaceutical company’s stock worth $354,794,000 after acquiring an additional 82,811 shares during the period. Fred Alger Management Inc. lifted its stake in Vertex Pharmaceuticals by 10.8% in the second quarter. Fred Alger Management Inc. now owns 1,960,493 shares of the pharmaceutical company’s stock worth $333,205,000 after acquiring an additional 191,072 shares during the period. Putnam Investments LLC lifted its stake in Vertex Pharmaceuticals by 2.3% in the second quarter. Putnam Investments LLC now owns 1,751,760 shares of the pharmaceutical company’s stock worth $297,730,000 after acquiring an additional 39,166 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its stake in Vertex Pharmaceuticals by 9.5% in the second quarter. Massachusetts Financial Services Co. MA now owns 1,663,552 shares of the pharmaceutical company’s stock worth $282,738,000 after acquiring an additional 143,730 shares during the period. 93.47% of the stock is owned by institutional investors.
VRTX stock traded up $0.03 during mid-day trading on Wednesday, reaching $185.48. 827,200 shares of the stock traded hands, compared to its average volume of 1,521,017. The company has a quick ratio of 3.55, a current ratio of 3.67 and a debt-to-equity ratio of 0.01. Vertex Pharmaceuticals has a one year low of $136.50 and a one year high of $194.92. The stock has a market capitalization of $49.26 billion, a price-to-earnings ratio of 231.85, a price-to-earnings-growth ratio of 1.96 and a beta of 1.48.
Vertex Pharmaceuticals Company Profile
Vertex Pharmaceuticals Incorporated, a biotechnology company, develops medicines for serious diseases. The company focuses on developing and commercializing therapies for the treatment of cystic fibrosis (CF) and advancing its research and development programs. It markets ORKAMBI (lumacaftor in combination with ivacaftor) to treat patients with CF 12 years of age and older who are homozygous for the F508del mutation in their cystic fibrosis transmembrane conductance regulator (CFTR) gene; KALYDECO (ivacaftor) for the treatment of patients with CF who have specific mutations in their CFTR gene, including the G551D mutation; and SYMDEKO (tezacaftor in combination with ivacaftor) to treat patients with CF 12 years of age and older who are F508del homozygous or who have 1 mutation that is responsive to tezacaftor/ivacaftor.
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