Wall Street brokerages forecast that Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) will announce earnings of $0.99 per share for the current fiscal quarter, according to Zacks. Ten analysts have provided estimates for Vertex Pharmaceuticals’ earnings, with the lowest EPS estimate coming in at $0.85 and the highest estimate coming in at $1.21. Vertex Pharmaceuticals posted earnings per share of $0.76 in the same quarter last year, which indicates a positive year-over-year growth rate of 30.3%. The business is expected to issue its next earnings results on Thursday, April 25th.
According to Zacks, analysts expect that Vertex Pharmaceuticals will report full year earnings of $4.07 per share for the current year, with EPS estimates ranging from $3.54 to $5.05. For the next financial year, analysts expect that the company will report earnings of $6.04 per share, with EPS estimates ranging from $4.84 to $7.57. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research analysts that follow Vertex Pharmaceuticals.
Get Vertex Pharmaceuticals alerts:Vertex Pharmaceuticals (NASDAQ:VRTX) last released its earnings results on Tuesday, February 5th. The pharmaceutical company reported $1.30 earnings per share for the quarter, topping the consensus estimate of $1.06 by $0.24. Vertex Pharmaceuticals had a net margin of 68.81% and a return on equity of 24.15%. The business had revenue of $870.11 million for the quarter, compared to the consensus estimate of $818.29 million. During the same period last year, the firm posted $0.61 earnings per share. The firm’s quarterly revenue was up 33.5% compared to the same quarter last year.
A number of brokerages recently commented on VRTX. BidaskClub raised shares of Vertex Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Friday. BMO Capital Markets boosted their price objective on shares of Vertex Pharmaceuticals to $234.00 and gave the company an “outperform” rating in a research report on Wednesday, February 6th. Zacks Investment Research raised shares of Vertex Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Saturday, January 26th. Cantor Fitzgerald reaffirmed a “buy” rating and set a $217.00 price objective on shares of Vertex Pharmaceuticals in a research report on Tuesday, November 27th. Finally, HC Wainwright raised shares of Vertex Pharmaceuticals from a “neutral” rating to a “buy” rating and set a $220.00 price objective on the stock in a research report on Friday, October 26th. Six investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $203.79.
VRTX traded up $2.35 on Tuesday, reaching $188.07. 1,408,239 shares of the company traded hands, compared to its average volume of 1,599,676. Vertex Pharmaceuticals has a 52-week low of $144.07 and a 52-week high of $195.81. The company has a market capitalization of $48.06 billion, a PE ratio of 66.46, a PEG ratio of 2.21 and a beta of 1.65. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.88 and a current ratio of 2.98.
In related news, SVP Paul M. Silva sold 809 shares of the company’s stock in a transaction on Monday, December 3rd. The shares were sold at an average price of $186.52, for a total transaction of $150,894.68. Following the completion of the transaction, the senior vice president now directly owns 16,896 shares in the company, valued at approximately $3,151,441.92. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Jeffrey M. Leiden sold 111,431 shares of the company’s stock in a transaction on Monday, February 11th. The shares were sold at an average price of $180.24, for a total transaction of $20,084,323.44. Following the transaction, the chief executive officer now owns 223,916 shares of the company’s stock, valued at $40,358,619.84. The disclosure for this sale can be found here. Insiders sold 184,887 shares of company stock valued at $33,658,261 over the last 90 days. 0.75% of the stock is owned by corporate insiders.
Large investors have recently added to or reduced their stakes in the stock. Eastern Bank raised its stake in Vertex Pharmaceuticals by 43.2% during the 4th quarter. Eastern Bank now owns 3,315 shares of the pharmaceutical company’s stock valued at $549,000 after purchasing an additional 1,000 shares during the last quarter. Bank of The West increased its holdings in Vertex Pharmaceuticals by 6.7% in the 3rd quarter. Bank of The West now owns 9,488 shares of the pharmaceutical company’s stock valued at $1,829,000 after buying an additional 596 shares during the period. First Hawaiian Bank bought a new stake in Vertex Pharmaceuticals in the 3rd quarter valued at $500,000. State Treasurer State of Michigan increased its holdings in Vertex Pharmaceuticals by 74.8% in the 4th quarter. State Treasurer State of Michigan now owns 133,168 shares of the pharmaceutical company’s stock valued at $22,067,000 after buying an additional 57,000 shares during the period. Finally, Bank of Montreal Can increased its holdings in Vertex Pharmaceuticals by 23.4% in the 3rd quarter. Bank of Montreal Can now owns 309,881 shares of the pharmaceutical company’s stock valued at $59,726,000 after buying an additional 58,738 shares during the period. Hedge funds and other institutional investors own 95.40% of the company’s stock.
About Vertex Pharmaceuticals
Vertex Pharmaceuticals Incorporated, a biotechnology company, develops medicines for serious diseases. The company focuses on developing and commercializing therapies for treating 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 treating 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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