Wall Street analysts expect Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) to announce $0.71 earnings per share (EPS) for the current fiscal quarter, Zacks reports. Nine analysts have made estimates for Vertex Pharmaceuticals’ earnings. The lowest EPS estimate is $0.57 and the highest is $0.88. Vertex Pharmaceuticals reported earnings of $0.39 per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 82.1%. The company is expected to issue its next quarterly earnings report on Wednesday, July 25th.
On average, analysts expect that Vertex Pharmaceuticals will report full-year earnings of $3.16 per share for the current financial year, with EPS estimates ranging from $2.85 to $3.52. For the next financial year, analysts forecast that the business will post earnings of $4.33 per share, with EPS estimates ranging from $3.50 to $5.67. Zacks’ earnings per share averages are an average based on a survey of analysts that cover Vertex Pharmaceuticals.
Get Vertex Pharmaceuticals alerts:
Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings results on Thursday, April 26th. The pharmaceutical company reported $0.76 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.63 by $0.13. The firm had revenue of $641.00 million for the quarter, compared to analyst estimates of $626.05 million. Vertex Pharmaceuticals had a net margin of 9.36% and a return on equity of 15.28%. Vertex Pharmaceuticals’s quarterly revenue was down 10.2% compared to the same quarter last year. During the same period last year, the company posted $0.99 EPS.
A number of research analysts recently weighed in on VRTX shares. HC Wainwright reaffirmed a “hold” rating and issued a $103.00 price target on shares of Vertex Pharmaceuticals in a research note on Tuesday, February 13th. BidaskClub raised shares of Vertex Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research note on Wednesday, May 16th. ValuEngine raised shares of Vertex Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Saturday, June 2nd. Cowen reissued a “buy” rating and issued a $200.00 target price on shares of Vertex Pharmaceuticals in a research note on Friday, April 27th. Finally, Argus set a $194.00 target price on shares of Vertex Pharmaceuticals and gave the stock a “buy” rating in a research note on Friday, February 23rd. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and twenty-six have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $184.54.
In other news, COO Ian F. Smith sold 85,093 shares of the firm’s stock in a transaction that occurred on Thursday, April 26th. The shares were sold at an average price of $158.32, for a total transaction of $13,471,923.76. Following the completion of the sale, the chief operating officer now owns 68,745 shares in the company, valued at approximately $10,883,708.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Stuart A. Arbuckle sold 2,125 shares of the firm’s stock in a transaction that occurred on Monday, April 16th. The stock was sold at an average price of $163.01, for a total transaction of $346,396.25. Following the sale, the executive vice president now owns 48,877 shares of the company’s stock, valued at approximately $7,967,439.77. The disclosure for this sale can be found here. Insiders have sold a total of 140,136 shares of company stock valued at $22,211,367 in the last 90 days. Insiders own 1.80% of the company’s stock.
Institutional investors have recently bought and sold shares of the stock. Public Employees Retirement Association of Colorado increased its holdings in Vertex Pharmaceuticals by 11.2% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 505,441 shares of the pharmaceutical company’s stock valued at $75,745,000 after purchasing an additional 50,973 shares during the last quarter. Xact Kapitalforvaltning AB increased its holdings in Vertex Pharmaceuticals by 15.4% in the 4th quarter. Xact Kapitalforvaltning AB now owns 44,195 shares of the pharmaceutical company’s stock valued at $6,623,000 after purchasing an additional 5,882 shares during the last quarter. Suntrust Banks Inc. increased its holdings in Vertex Pharmaceuticals by 10.9% in the 4th quarter. Suntrust Banks Inc. now owns 29,862 shares of the pharmaceutical company’s stock valued at $4,474,000 after purchasing an additional 2,925 shares during the last quarter. Comerica Bank increased its holdings in Vertex Pharmaceuticals by 17.9% in the 4th quarter. Comerica Bank now owns 71,214 shares of the pharmaceutical company’s stock valued at $11,925,000 after purchasing an additional 10,801 shares during the last quarter. Finally, Global X Management Co. LLC increased its holdings in Vertex Pharmaceuticals by 15.7% in the 4th quarter. Global X Management Co. LLC now owns 5,786 shares of the pharmaceutical company’s stock valued at $867,000 after purchasing an additional 787 shares during the last quarter. Hedge funds and other institutional investors own 93.38% of the company’s stock.
Vertex Pharmaceuticals stock traded up $4.80 during midday trading on Friday, reaching $150.55. The company had a trading volume of 1,657,600 shares, compared to its average volume of 1,690,509. The firm has a market capitalization of $37.20 billion, a PE ratio of 188.19, a P/E/G ratio of 1.78 and a beta of 1.43. Vertex Pharmaceuticals has a 12-month low of $120.77 and a 12-month high of $178.25. The company has a current ratio of 3.68, a quick ratio of 3.53 and a debt-to-equity ratio of 0.01.
About Vertex Pharmaceuticals
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.
Get a free copy of the Zacks research report on Vertex Pharmaceuticals (VRTX)
For more information about research offerings from Zacks Investment Research, visit Zacks.com