Brokerages predict that Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) will report sales of $996.44 million for the current quarter, Zacks reports. Nine analysts have made estimates for Vertex Pharmaceuticals’ earnings. The highest sales estimate is $1.02 billion and the lowest is $979.73 million. Vertex Pharmaceuticals reported sales of $870.11 million during the same quarter last year, which would suggest a positive year over year growth rate of 14.5%. The company is scheduled to announce its next earnings results on Tuesday, February 4th.
On average, analysts expect that Vertex Pharmaceuticals will report full-year sales of $3.74 billion for the current fiscal year, with estimates ranging from $3.73 billion to $3.77 billion. For the next financial year, analysts forecast that the firm will report sales of $4.86 billion, with estimates ranging from $4.44 billion to $5.23 billion. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover Vertex Pharmaceuticals.
Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its earnings results on Wednesday, October 30th. The pharmaceutical company reported $1.23 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.87 by $0.36. The firm had revenue of $949.83 million during the quarter, compared to analyst estimates of $942.90 million. Vertex Pharmaceuticals had a return on equity of 20.33% and a net margin of 59.24%. The company’s revenue for the quarter was up 21.1% on a year-over-year basis. During the same period in the previous year, the company earned $1.09 EPS.
A number of analysts have recently weighed in on VRTX shares. Goldman Sachs Group upgraded shares of Vertex Pharmaceuticals from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $226.00 to $254.00 in a research note on Tuesday, September 3rd. Piper Jaffray Companies raised their target price on shares of Vertex Pharmaceuticals from $230.00 to $247.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. Jefferies Financial Group set a $220.00 target price on shares of Vertex Pharmaceuticals and gave the stock a “buy” rating in a report on Monday, October 21st. Leerink Swann boosted their target price on shares of Vertex Pharmaceuticals from $186.00 to $203.00 and gave the stock a “market perform” rating in a research report on Tuesday, October 22nd. Finally, BidaskClub raised shares of Vertex Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research report on Thursday, November 21st. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $219.07.
In other news, CMO Reshma Kewalramani sold 4,692 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $219.37, for a total transaction of $1,029,284.04. Following the sale, the chief marketing officer now directly owns 17,790 shares in the company, valued at $3,902,592.30. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Ourania Tatsis sold 188 shares of the company’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $169.11, for a total value of $31,792.68. Following the completion of the transaction, the senior vice president now owns 7,696 shares of the company’s stock, valued at $1,301,470.56. The disclosure for this sale can be found here. In the last quarter, insiders sold 290,475 shares of company stock valued at $56,792,441. 0.70% of the stock is owned by corporate insiders.
A number of institutional investors have recently made changes to their positions in the business. Municipal Employees Retirement System of Michigan boosted its holdings in Vertex Pharmaceuticals by 0.9% during the third quarter. Municipal Employees Retirement System of Michigan now owns 6,430 shares of the pharmaceutical company’s stock valued at $1,089,000 after purchasing an additional 60 shares in the last quarter. Cleararc Capital Inc. lifted its position in shares of Vertex Pharmaceuticals by 1.7% during the 3rd quarter. Cleararc Capital Inc. now owns 3,870 shares of the pharmaceutical company’s stock worth $656,000 after buying an additional 64 shares during the period. Quadrant Capital Group LLC boosted its stake in Vertex Pharmaceuticals by 3.6% in the 3rd quarter. Quadrant Capital Group LLC now owns 1,877 shares of the pharmaceutical company’s stock valued at $305,000 after buying an additional 65 shares in the last quarter. Integrated Wealth Concepts LLC boosted its stake in Vertex Pharmaceuticals by 3.9% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 1,776 shares of the pharmaceutical company’s stock valued at $301,000 after buying an additional 66 shares in the last quarter. Finally, Victory Capital Management Inc. grew its position in Vertex Pharmaceuticals by 0.4% in the second quarter. Victory Capital Management Inc. now owns 19,094 shares of the pharmaceutical company’s stock valued at $3,501,000 after acquiring an additional 67 shares during the period. 94.87% of the stock is currently owned by hedge funds and other institutional investors.
Shares of VRTX stock opened at $223.25 on Friday. Vertex Pharmaceuticals has a 12 month low of $151.80 and a 12 month high of $224.66. The company has a market cap of $57.41 billion, a PE ratio of 78.89, a price-to-earnings-growth ratio of 2.03 and a beta of 1.49. The company has a quick ratio of 3.32, a current ratio of 3.44 and a debt-to-equity ratio of 0.12. The business’s 50 day moving average is $204.75 and its two-hundred day moving average is $182.89.
Vertex Pharmaceuticals Company Profile
Vertex Pharmaceuticals Incorporated engages in developing and commercializing therapies for treating cystic fibrosis. The company markets SYMDEKO/SYMKEVI, ORKAMBI, and KALYDECO to treat patients with cystic fibrosis who have specific mutations in their cystic fibrosis transmembrane conductance regulator gene.
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