Vertex Pharmaceuticals (NASDAQ:VRTX) Releases Earnings Results, Beats Estimates By $0.35 EPS

Vertex Pharmaceuticals (NASDAQ:VRTXGet Rating) issued its earnings results on Thursday. The pharmaceutical company reported $3.52 EPS for the quarter, topping analysts’ consensus estimates of $3.17 by $0.35, MarketWatch Earnings reports. The business had revenue of $2.10 billion for the quarter, compared to analyst estimates of $2.07 billion. Vertex Pharmaceuticals had a net margin of 30.92% and a return on equity of 32.33%. The company’s quarterly revenue was up 21.6% compared to the same quarter last year. During the same period last year, the company posted $2.54 earnings per share.

VRTX stock opened at $253.93 on Friday. The stock has a market capitalization of $64.89 billion, a P/E ratio of 26.73, a P/E/G ratio of 1.87 and a beta of 0.55. The firm has a 50-day simple moving average of $260.85 and a 200-day simple moving average of $229.38. The company has a quick ratio of 4.30, a current ratio of 4.46 and a debt-to-equity ratio of 0.05. Vertex Pharmaceuticals has a 52 week low of $176.36 and a 52 week high of $292.75.

In related news, Director Sangeeta N. Bhatia sold 737 shares of the company’s stock in a transaction dated Monday, May 2nd. The shares were sold at an average price of $258.94, for a total transaction of $190,838.78. Following the completion of the sale, the director now owns 5,903 shares of the company’s stock, valued at approximately $1,528,522.82. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Charles F. Wagner, Jr. sold 343 shares of the company’s stock in a transaction dated Monday, May 2nd. The shares were sold at an average price of $258.83, for a total transaction of $88,778.69. Following the sale, the chief financial officer now directly owns 42,730 shares of the company’s stock, valued at approximately $11,059,805.90. The disclosure for this sale can be found here. Insiders have sold 45,828 shares of company stock valued at $12,464,221 in the last three months. Corporate insiders own 0.40% of the company’s stock.

A number of large investors have recently bought and sold shares of VRTX. Parametric Portfolio Associates LLC lifted its holdings in shares of Vertex Pharmaceuticals by 19.3% in the 4th quarter. Parametric Portfolio Associates LLC now owns 877,007 shares of the pharmaceutical company’s stock worth $192,591,000 after acquiring an additional 142,022 shares during the last quarter. Hardman Johnston Global Advisors LLC lifted its holdings in shares of Vertex Pharmaceuticals by 10.6% in the 4th quarter. Hardman Johnston Global Advisors LLC now owns 208,624 shares of the pharmaceutical company’s stock worth $45,814,000 after acquiring an additional 19,950 shares during the last quarter. Thrivent Financial for Lutherans lifted its holdings in shares of Vertex Pharmaceuticals by 18.2% in the 4th quarter. Thrivent Financial for Lutherans now owns 52,406 shares of the pharmaceutical company’s stock worth $11,508,000 after acquiring an additional 8,056 shares during the last quarter. Privium Fund Management UK Ltd acquired a new position in shares of Vertex Pharmaceuticals in the 4th quarter worth approximately $6,896,000. Finally, Camden National Bank lifted its holdings in shares of Vertex Pharmaceuticals by 73.0% in the 4th quarter. Camden National Bank now owns 27,395 shares of the pharmaceutical company’s stock worth $6,474,000 after acquiring an additional 11,561 shares during the last quarter. Institutional investors own 89.84% of the company’s stock.

Several equities analysts recently issued reports on VRTX shares. Wolfe Research lifted their price objective on shares of Vertex Pharmaceuticals from $271.00 to $282.00 and gave the company an “outperform” rating in a report on Thursday, January 27th. BMO Capital Markets upgraded shares of Vertex Pharmaceuticals from a “market perform” rating to an “outperform” rating and raised their target price for the company from $202.00 to $274.00 in a research note on Thursday, January 20th. JPMorgan Chase & Co. raised their target price on shares of Vertex Pharmaceuticals from $260.00 to $288.00 and gave the company an “overweight” rating in a research note on Thursday, January 27th. Royal Bank of Canada downgraded shares of Vertex Pharmaceuticals from an “outperform” rating to a “sector perform” rating and set a $269.00 target price for the company. in a research note on Thursday, February 3rd. Finally, Stifel Nicolaus raised their target price on shares of Vertex Pharmaceuticals from $213.00 to $222.00 and gave the company a “hold” rating in a research note on Thursday, January 27th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Vertex Pharmaceuticals has a consensus rating of “Buy” and a consensus target price of $273.81.

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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Earnings History for Vertex Pharmaceuticals (NASDAQ:VRTX)

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