Equities analysts expect that Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) will announce earnings per share (EPS) of $0.35 for the current quarter, Zacks Investment Research reports. Nine analysts have made estimates for Vertex Pharmaceuticals’ earnings, with estimates ranging from $0.20 to $0.51. Vertex Pharmaceuticals posted earnings of $0.16 per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 118.8%. The firm is expected to report its next earnings report on Tuesday, October 24th.
According to Zacks, analysts expect that Vertex Pharmaceuticals will report full year earnings of $1.66 per share for the current fiscal year, with EPS estimates ranging from $1.38 to $2.09. For the next year, analysts anticipate that the firm will post earnings of $3.13 per share, with EPS estimates ranging from $2.50 to $4.64. Zacks’ EPS calculations are a mean average based on a survey of research analysts that follow Vertex Pharmaceuticals.
Vertex Pharmaceuticals (NASDAQ:VRTX) last released its earnings results on Wednesday, July 26th. The pharmaceutical company reported $0.39 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.06 by $0.33. The company had revenue of $544.10 million during the quarter, compared to analyst estimates of $489.95 million. Vertex Pharmaceuticals had a net margin of 12.05% and a return on equity of 4.64%. The firm’s quarterly revenue was up 26.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.24 EPS.
Several research analysts recently weighed in on VRTX shares. Vetr upgraded Vertex Pharmaceuticals from a “strong sell” rating to a “strong-buy” rating and set a $156.00 price target for the company in a research report on Tuesday, July 18th. Jefferies Group LLC reiterated a “buy” rating and set a $185.00 price target (up from $155.00) on shares of Vertex Pharmaceuticals in a research report on Wednesday, July 19th. Credit Suisse Group lifted their price target on Vertex Pharmaceuticals from $125.00 to $195.00 and gave the company an “outperform” rating in a research report on Wednesday, July 19th. UBS AG cut Vertex Pharmaceuticals from a “buy” rating to a “neutral” rating and lifted their price target for the company from $135.00 to $174.00 in a research report on Wednesday, July 19th. They noted that the move was a valuation call. Finally, Needham & Company LLC reiterated a “buy” rating and set a $195.00 price target (up from $155.00) on shares of Vertex Pharmaceuticals in a research report on Friday, July 21st. Six investment analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $162.88.
In other news, EVP David Altshuler sold 1,796 shares of Vertex Pharmaceuticals stock in a transaction that occurred on Thursday, August 31st. The stock was sold at an average price of $160.00, for a total value of $287,360.00. Following the sale, the executive vice president now directly owns 107,807 shares of the company’s stock, valued at $17,249,120. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jeffrey M. Leiden sold 216,624 shares of Vertex Pharmaceuticals stock in a transaction that occurred on Friday, July 21st. The stock was sold at an average price of $160.96, for a total value of $34,867,799.04. Following the completion of the sale, the chief executive officer now directly owns 400,266 shares in the company, valued at $64,426,815.36. The disclosure for this sale can be found here. Insiders sold 526,092 shares of company stock valued at $84,101,702 over the last 90 days. Company insiders own 1.80% of the company’s stock.
Large investors have recently modified their holdings of the company. Private Advisor Group LLC boosted its stake in shares of Vertex Pharmaceuticals by 1.8% in the first quarter. Private Advisor Group LLC now owns 5,328 shares of the pharmaceutical company’s stock worth $607,000 after acquiring an additional 94 shares during the last quarter. Teachers Advisors LLC boosted its stake in shares of Vertex Pharmaceuticals by 48.6% in the first quarter. Teachers Advisors LLC now owns 510,373 shares of the pharmaceutical company’s stock worth $55,809,000 after acquiring an additional 166,998 shares during the last quarter. Dynamic Capital Management Ltd boosted its stake in shares of Vertex Pharmaceuticals by 53.8% in the first quarter. Dynamic Capital Management Ltd now owns 39,614 shares of the pharmaceutical company’s stock worth $4,332,000 after acquiring an additional 13,853 shares during the last quarter. Neuberger Berman Group LLC boosted its stake in shares of Vertex Pharmaceuticals by 5.1% in the first quarter. Neuberger Berman Group LLC now owns 246,331 shares of the pharmaceutical company’s stock worth $26,936,000 after acquiring an additional 12,060 shares during the last quarter. Finally, Westfield Capital Management Co. LP acquired a new stake in shares of Vertex Pharmaceuticals in the first quarter worth approximately $38,915,000. 92.88% of the stock is currently owned by hedge funds and other institutional investors.
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Vertex Pharmaceuticals (VRTX) traded down 0.36% during midday trading on Friday, reaching $158.83. 1,064,745 shares of the company traded hands. The stock has a market capitalization of $40.04 billion, a P/E ratio of 154.20 and a beta of 1.75. Vertex Pharmaceuticals has a 1-year low of $71.46 and a 1-year high of $167.85. The firm has a 50-day moving average of $155.51 and a 200-day moving average of $124.66.
Vertex Pharmaceuticals Company Profile
Vertex Pharmaceuticals Incorporated is engaged in discovering, developing, manufacturing and commercializing medicines for serious diseases. The Company is focused on developing and commercializing therapies for the treatment of cystic fibrosis (CF) and advancing its research and development programs in other indications.
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