Vertex Pharmaceuticals Incorporated Forecasted to Earn Q1 2018 Earnings of $0.30 Per Share (VRTX)
Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) – Analysts at Jefferies Group issued their Q1 2018 earnings per share (EPS) estimates for Vertex Pharmaceuticals in a research report issued on Thursday. Jefferies Group analyst M. Yee anticipates that the pharmaceutical company will post earnings of $0.30 per share for the quarter. Jefferies Group currently has a “Buy” rating on the stock. Jefferies Group also issued estimates for Vertex Pharmaceuticals’ Q2 2018 earnings at $0.36 EPS, Q3 2018 earnings at $0.47 EPS and Q4 2018 earnings at $0.57 EPS.
Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its earnings results on Wednesday, October 25th. The pharmaceutical company reported $0.53 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.49. Vertex Pharmaceuticals had a net margin of 8.53% and a return on equity of 9.23%. The business had revenue of $578.20 million for the quarter, compared to analysts’ expectations of $522.07 million. During the same period in the previous year, the company posted $0.16 earnings per share. The business’s revenue for the quarter was up 39.7% compared to the same quarter last year.
VRTX has been the subject of several other reports. Raymond James Financial, Inc. raised Vertex Pharmaceuticals from a “market perform” rating to an “outperform” rating and set a $181.00 price objective for the company in a research report on Wednesday, July 19th. J P Morgan Chase & Co set a $175.00 price objective on Vertex Pharmaceuticals and gave the company a “buy” rating in a research report on Wednesday, July 19th. Oppenheimer Holdings, Inc. increased their price objective on Vertex Pharmaceuticals from $150.00 to $175.00 and gave the company an “outperform” rating in a research report on Thursday, July 27th. BMO Capital Markets reissued a “buy” rating on shares of Vertex Pharmaceuticals in a research report on Wednesday, September 27th. Finally, Robert W. Baird reissued a “buy” rating on shares of Vertex Pharmaceuticals in a research report on Friday. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-three have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $169.74.
Shares of Vertex Pharmaceuticals (NASDAQ:VRTX) opened at 150.11 on Monday. The company has a 50 day moving average of $152.78 and a 200-day moving average of $138.86. The company has a market cap of $37.85 billion, a price-to-earnings ratio of 144.20 and a beta of 1.73. Vertex Pharmaceuticals has a 52 week low of $71.46 and a 52 week high of $167.85.
Large investors have recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. increased its stake in shares of Vertex Pharmaceuticals by 15.4% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 988 shares of the pharmaceutical company’s stock valued at $127,000 after buying an additional 132 shares in the last quarter. FNY Partners Fund LP increased its position in Vertex Pharmaceuticals by 900.0% in the second quarter. FNY Partners Fund LP now owns 1,000 shares of the pharmaceutical company’s stock worth $128,000 after purchasing an additional 900 shares during the period. Intact Investment Management Inc. acquired a new stake in Vertex Pharmaceuticals in the third quarter worth about $213,000. Dupont Capital Management Corp acquired a new stake in Vertex Pharmaceuticals in the second quarter worth about $186,000. Finally, State of Alaska Department of Revenue acquired a new stake in Vertex Pharmaceuticals in the second quarter worth about $197,000. Institutional investors own 93.36% of the company’s stock.
In other news, CFO Ian F. Smith sold 4,250 shares of the firm’s stock in a transaction on Monday, August 7th. The stock was sold at an average price of $155.39, for a total value of $660,407.50. Following the completion of the sale, the chief financial officer now directly owns 120,138 shares in the company, valued at $18,668,243.82. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CMO Jeffrey Chodakewitz sold 5,390 shares of the firm’s stock in a transaction on Thursday, August 3rd. The shares were sold at an average price of $154.17, for a total value of $830,976.30. Following the completion of the sale, the chief marketing officer now owns 116,220 shares of the company’s stock, valued at $17,917,637.40. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 29,700 shares of company stock valued at $4,586,808. 1.80% of the stock is currently owned by corporate insiders.
Vertex Pharmaceuticals Company Profile
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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