Vertex Pharmaceuticals Incorporated (VRTX) Expected to Post Earnings of $0.35 Per Share
Brokerages expect Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) to announce earnings of $0.35 per share for the current fiscal quarter, Zacks Investment Research reports. Nine analysts have issued estimates for Vertex Pharmaceuticals’ earnings, with the highest EPS estimate coming in at $0.51 and the lowest estimate coming in at $0.20. Vertex Pharmaceuticals reported earnings of $0.16 per share in the same quarter last year, which would indicate a positive year over year growth rate of 118.8%. The business is scheduled to issue its next quarterly earnings report on Tuesday, October 24th.
On average, analysts expect that Vertex Pharmaceuticals will report full-year earnings of $1.65 per share for the current fiscal year, with EPS estimates ranging from $1.38 to $2.02. For the next year, analysts anticipate that the business will report earnings of $3.11 per share, with EPS estimates ranging from $2.43 to $4.64. Zacks’ earnings per share calculations are an average based on a survey of sell-side research analysts that follow Vertex Pharmaceuticals.
Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings data on Wednesday, July 26th. The pharmaceutical company reported $0.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.33. The firm had revenue of $544.10 million during the quarter, compared to the consensus estimate of $489.95 million. Vertex Pharmaceuticals had a return on equity of 4.64% and a net margin of 12.05%. The company’s quarterly revenue was up 26.1% on a year-over-year basis. During the same period last year, the company earned $0.24 EPS.
Several equities analysts recently weighed in on the company. UBS AG reiterated a “buy” rating and set a $135.00 target price (up from $132.00) on shares of Vertex Pharmaceuticals in a research report on Friday, May 19th. BidaskClub downgraded Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Saturday. Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of Vertex Pharmaceuticals in a research report on Sunday, April 30th. Cowen and Company reiterated a “buy” rating on shares of Vertex Pharmaceuticals in a research report on Tuesday, August 1st. Finally, Jefferies Group LLC restated a “buy” rating on shares of Vertex Pharmaceuticals in a research note on Tuesday. Six equities research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $162.88.
In other Vertex Pharmaceuticals news, SVP Paul M. Silva sold 43,443 shares of the stock in a transaction that occurred on Friday, July 21st. The stock was sold at an average price of $161.07, for a total transaction of $6,997,364.01. Following the transaction, the senior vice president now owns 26,516 shares of the company’s stock, valued at approximately $4,270,932.12. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Michael Parini sold 10,829 shares of the stock in a transaction that occurred on Wednesday, July 19th. The stock was sold at an average price of $161.00, for a total value of $1,743,469.00. Following the transaction, the executive vice president now directly owns 37,309 shares in the company, valued at approximately $6,006,749. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 751,042 shares of company stock worth $113,078,257. 1.80% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. DnB Asset Management AS increased its position in Vertex Pharmaceuticals by 18.3% in the first quarter. DnB Asset Management AS now owns 26,480 shares of the pharmaceutical company’s stock worth $2,896,000 after buying an additional 4,100 shares in the last quarter. Columbus Circle Investors increased its position in Vertex Pharmaceuticals by 127.0% in the first quarter. Columbus Circle Investors now owns 57,174 shares of the pharmaceutical company’s stock worth $6,252,000 after buying an additional 31,988 shares in the last quarter. Mn Services Vermogensbeheer B.V. increased its position in Vertex Pharmaceuticals by 4.4% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 6,615 shares of the pharmaceutical company’s stock worth $676,000 after buying an additional 279 shares in the last quarter. First Manhattan Co. increased its position in Vertex Pharmaceuticals by 1.3% in the first quarter. First Manhattan Co. now owns 2,356 shares of the pharmaceutical company’s stock worth $205,000 after buying an additional 31 shares in the last quarter. Finally, Korea Investment CORP increased its position in Vertex Pharmaceuticals by 225.3% in the first quarter. Korea Investment CORP now owns 950 shares of the pharmaceutical company’s stock worth $104,000 after buying an additional 658 shares in the last quarter. 94.89% of the stock is currently owned by institutional investors.
Shares of Vertex Pharmaceuticals (VRTX) traded up 4.34% during mid-day trading on Tuesday, hitting $155.48. The company had a trading volume of 1,659,747 shares. Vertex Pharmaceuticals has a 12 month low of $71.46 and a 12 month high of $167.85. The company has a market cap of $39.20 billion, a PE ratio of 149.36 and a beta of 1.77. The firm has a 50-day moving average of $147.30 and a 200-day moving average of $118.72.
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About Vertex Pharmaceuticals
Vertex Pharmaceuticals Incorporated is engaged in discovering, developing, manufacturing and commercializing medicines for serious diseases. The Company is focused on developing and commercializing therapies for the treatment of cystic fibrosis (CF) and advancing its research and development programs in other indications.
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