Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Expected to Post Quarterly Sales of $2.08 Billion

Equities analysts predict that Vertex Pharmaceuticals Incorporated (NASDAQ:VRTXGet Rating) will announce $2.08 billion in sales for the current fiscal quarter, according to Zacks. Eight analysts have made estimates for Vertex Pharmaceuticals’ earnings, with estimates ranging from $1.94 billion to $2.15 billion. Vertex Pharmaceuticals posted sales of $1.72 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 20.9%. The firm is expected to report its next quarterly earnings report on Monday, January 1st.

On average, analysts expect that Vertex Pharmaceuticals will report full year sales of $8.55 billion for the current financial year, with estimates ranging from $8.48 billion to $8.64 billion. For the next year, analysts expect that the business will report sales of $9.16 billion, with estimates ranging from $8.84 billion to $9.62 billion. Zacks’ sales calculations are an average based on a survey of analysts that follow Vertex Pharmaceuticals.

Vertex Pharmaceuticals (NASDAQ:VRTXGet Rating) last released its quarterly earnings data on Wednesday, January 26th. The pharmaceutical company reported $3.18 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.91 by $0.27. Vertex Pharmaceuticals had a return on equity of 32.33% and a net margin of 30.92%. The business had revenue of $2.07 billion for the quarter, compared to the consensus estimate of $1.99 billion. During the same quarter in the previous year, the company posted $2.22 EPS.

A number of analysts have issued reports on VRTX shares. Zacks Investment Research downgraded Vertex Pharmaceuticals from a “buy” rating to a “hold” rating and set a $279.00 price objective on the stock. in a research note on Monday, April 4th. Oppenheimer lifted their target price on Vertex Pharmaceuticals from $305.00 to $350.00 in a report on Monday, April 4th. Wells Fargo & Company lifted their target price on Vertex Pharmaceuticals from $270.00 to $300.00 and gave the stock an “overweight” rating in a report on Tuesday, April 5th. StockNews.com initiated coverage on Vertex Pharmaceuticals in a report on Thursday, March 31st. They issued a “strong-buy” rating for the company. Finally, Evercore ISI reiterated a “buy” rating and issued a $265.00 target price on shares of Vertex Pharmaceuticals in a report on Thursday, December 23rd. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $269.95.

In other news, EVP Ourania Tatsis sold 325 shares of the business’s stock in a transaction on Friday, February 25th. The stock was sold at an average price of $230.95, for a total value of $75,058.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Margaret G. Mcglynn sold 5,000 shares of the business’s stock in a transaction on Friday, January 28th. The stock was sold at an average price of $241.79, for a total value of $1,208,950.00. The disclosure for this sale can be found here. Insiders sold a total of 32,834 shares of company stock valued at $8,388,862 over the last quarter. Company insiders own 0.30% of the company’s stock.

A number of institutional investors have recently made changes to their positions in VRTX. Camden National Bank raised its holdings in Vertex Pharmaceuticals by 73.0% in the fourth quarter. Camden National Bank now owns 27,395 shares of the pharmaceutical company’s stock worth $6,474,000 after purchasing an additional 11,561 shares in the last quarter. Morgan Stanley grew its stake in Vertex Pharmaceuticals by 36.4% during the 2nd quarter. Morgan Stanley now owns 1,221,326 shares of the pharmaceutical company’s stock worth $246,259,000 after buying an additional 325,944 shares during the last quarter. Phoenix Holdings Ltd. increased its position in Vertex Pharmaceuticals by 13.9% during the 3rd quarter. Phoenix Holdings Ltd. now owns 12,302 shares of the pharmaceutical company’s stock valued at $2,237,000 after buying an additional 1,506 shares in the last quarter. WINTON GROUP Ltd raised its stake in Vertex Pharmaceuticals by 11.9% in the third quarter. WINTON GROUP Ltd now owns 2,835 shares of the pharmaceutical company’s stock valued at $514,000 after buying an additional 302 shares during the last quarter. Finally, Bray Capital Advisors boosted its holdings in Vertex Pharmaceuticals by 5.1% in the third quarter. Bray Capital Advisors now owns 3,930 shares of the pharmaceutical company’s stock worth $713,000 after acquiring an additional 190 shares in the last quarter. Institutional investors and hedge funds own 90.30% of the company’s stock.

NASDAQ:VRTX opened at $290.93 on Thursday. The company has a debt-to-equity ratio of 0.05, a current ratio of 4.46 and a quick ratio of 4.30. Vertex Pharmaceuticals has a 1 year low of $176.36 and a 1 year high of $291.44. The stock’s 50 day simple moving average is $247.48 and its two-hundred day simple moving average is $218.73. The company has a market cap of $74.34 billion, a price-to-earnings ratio of 32.22, a PEG ratio of 1.42 and a beta of 0.62.

Vertex Pharmaceuticals Company Profile (Get Rating)

Vertex Pharmaceuticals Incorporated, a biotechnology company, 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; and TRIKAFTA for the treatment of patients with CF 6 years of age or older who have at least one F508del mutation.

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