Brokerages Anticipate Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Will Announce Earnings of $3.56 Per Share

Wall Street brokerages expect Vertex Pharmaceuticals Incorporated (NASDAQ:VRTXGet Rating) to post $3.56 earnings per share (EPS) for the current quarter, Zacks reports. Nine analysts have issued estimates for Vertex Pharmaceuticals’ earnings, with the lowest EPS estimate coming in at $3.43 and the highest estimate coming in at $3.71. Vertex Pharmaceuticals posted earnings per share of $3.11 in the same quarter last year, which would indicate a positive year over year growth rate of 14.5%. The business is expected to issue its next earnings results on Monday, January 1st.

According to Zacks, analysts expect that Vertex Pharmaceuticals will report full year earnings of $14.13 per share for the current fiscal year, with EPS estimates ranging from $13.75 to $14.49. For the next financial year, analysts forecast that the business will report earnings of $15.03 per share, with EPS estimates ranging from $13.74 to $16.34. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research analysts that cover Vertex Pharmaceuticals.

Vertex Pharmaceuticals (NASDAQ:VRTXGet Rating) last released its quarterly earnings data on Thursday, May 5th. The pharmaceutical company reported $3.16 earnings per share for the quarter, missing analysts’ consensus estimates of $3.17 by ($0.01). The company had revenue of $2.10 billion for the quarter, compared to analysts’ expectations of $2.07 billion. Vertex Pharmaceuticals had a net margin of 30.84% and a return on equity of 32.24%. The business’s revenue for the quarter was up 21.6% compared to the same quarter last year. During the same period last year, the company posted $2.54 EPS.

A number of equities analysts have issued reports on VRTX shares. Robert W. Baird downgraded Vertex Pharmaceuticals from an “outperform” rating to a “neutral” rating and set a $250.00 price objective for the company. in a report on Friday, May 6th. Morgan Stanley raised Vertex Pharmaceuticals from an “underweight” rating to an “equal weight” rating and set a $250.00 price objective on the stock in a research report on Tuesday, May 3rd. SVB Leerink started coverage on Vertex Pharmaceuticals in a research report on Monday. They set a “market perform” rating and a $265.00 price objective on the stock. Stifel Nicolaus increased their price objective on Vertex Pharmaceuticals from $213.00 to $222.00 and gave the company a “hold” rating in a research report on Thursday, January 27th. Finally, Zacks Investment Research cut Vertex Pharmaceuticals from a “buy” rating to a “hold” rating and set a $279.00 price objective on the stock. in a research report on Monday, April 4th. Nine research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $278.10.

VRTX traded up $9.76 during trading on Monday, reaching $268.35. The stock had a trading volume of 1,636,463 shares, compared to its average volume of 1,727,965. The stock’s 50 day moving average is $263.42 and its two-hundred day moving average is $234.97. The company has a current ratio of 4.75, a quick ratio of 4.60 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $68.63 billion, a price-to-earnings ratio of 28.25, a P/E/G ratio of 1.89 and a beta of 0.55. Vertex Pharmaceuticals has a one year low of $176.36 and a one year high of $292.75.

In related news, COO Stuart A. Arbuckle sold 306 shares of the company’s stock in a transaction dated Monday, May 2nd. The stock was sold at an average price of $263.98, for a total transaction of $80,777.88. Following the transaction, the chief operating officer now directly owns 64,760 shares of the company’s stock, valued at approximately $17,095,344.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Joy Liu sold 120 shares of the stock in a transaction dated Friday, April 29th. The shares were sold at an average price of $275.41, for a total value of $33,049.20. Following the completion of the transaction, the senior vice president now directly owns 14,334 shares in the company, valued at $3,947,726.94. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 43,012 shares of company stock valued at $11,804,491. 0.40% of the stock is owned by company insiders.

Hedge funds have recently modified their holdings of the business. Camden National Bank raised its holdings in shares of Vertex Pharmaceuticals by 73.0% during 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 period. O Shaughnessy Asset Management LLC raised its holdings in Vertex Pharmaceuticals by 8.4% in the 3rd quarter. O Shaughnessy Asset Management LLC now owns 1,003 shares of the pharmaceutical company’s stock valued at $182,000 after buying an additional 78 shares during the period. Mercer Global Advisors Inc. ADV raised its holdings in Vertex Pharmaceuticals by 12.7% in the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 7,222 shares of the pharmaceutical company’s stock valued at $1,310,000 after buying an additional 814 shares during the period. CI Investments Inc. raised its holdings in Vertex Pharmaceuticals by 35.8% in the 3rd quarter. CI Investments Inc. now owns 5,659 shares of the pharmaceutical company’s stock valued at $1,026,000 after buying an additional 1,492 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. raised its holdings in Vertex Pharmaceuticals by 33.9% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 24,709 shares of the pharmaceutical company’s stock valued at $4,482,000 after buying an additional 6,257 shares during the period. Institutional investors own 89.84% of the company’s stock.

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.

Recommended Stories

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

Earnings History and Estimates for Vertex Pharmaceuticals (NASDAQ:VRTX)

Receive News & Ratings for Vertex Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Vertex Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.