Vertex Pharmaceuticals Incorporated (VRTX) Expected to Announce Quarterly Sales of $593.83 Million

Brokerages forecast that Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) will post $593.83 million in sales for the current quarter, Zacks reports. Ten analysts have made estimates for Vertex Pharmaceuticals’ earnings, with the lowest sales estimate coming in at $565.68 million and the highest estimate coming in at $634.20 million. Vertex Pharmaceuticals posted sales of $458.71 million in the same quarter last year, which suggests a positive year-over-year growth rate of 29.5%. The firm is scheduled to announce its next quarterly earnings results after the market closes on Wednesday, January 31st.

According to Zacks, analysts expect that Vertex Pharmaceuticals will report full year sales of $593.83 million for the current financial year, with estimates ranging from $2.13 billion to $2.47 billion. For the next fiscal year, analysts anticipate that the company will report sales of $2.72 billion per share, with estimates ranging from $2.53 billion to $2.87 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for Vertex Pharmaceuticals.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its earnings results on Wednesday, October 25th. The pharmaceutical company reported $0.53 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.04 by $0.49. Vertex Pharmaceuticals had a net margin of 8.53% and a return on equity of 9.23%. The firm had revenue of $578.20 million for the quarter, compared to analyst estimates of $522.07 million. During the same quarter in the prior year, the business posted $0.16 EPS. The business’s revenue was up 39.7% compared to the same quarter last year.

VRTX has been the topic of a number of analyst reports. Cowen restated a “buy” rating and set a $200.00 target price on shares of Vertex Pharmaceuticals in a research report on Monday, December 11th. Deutsche Bank initiated coverage on shares of Vertex Pharmaceuticals in a research report on Tuesday, December 12th. They set a “buy” rating and a $175.00 target price on the stock. Zacks Investment Research lowered shares of Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Tuesday, October 24th. Royal Bank of Canada increased their target price on shares of Vertex Pharmaceuticals from $175.00 to $181.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 18th. Finally, Vetr lowered shares of Vertex Pharmaceuticals to a “sell” rating in a research report on Thursday, September 21st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $175.89.

Vertex Pharmaceuticals (NASDAQ:VRTX) opened at $156.99 on Thursday. Vertex Pharmaceuticals has a 52-week low of $80.06 and a 52-week high of $167.85. The stock has a market cap of $39,379.50, a P/E ratio of 201.27, a price-to-earnings-growth ratio of 1.84 and a beta of 1.58. The company has a current ratio of 3.28, a quick ratio of 3.14 and a debt-to-equity ratio of 0.01.

In related news, Director Sangeeta N. Bhatia sold 7,073 shares of the stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $143.05, for a total value of $1,011,792.65. Following the completion of the transaction, the director now owns 11,026 shares of the company’s stock, valued at approximately $1,577,269.30. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Jeffrey M. Leiden sold 125,000 shares of the stock in a transaction that occurred on Monday, December 11th. The shares were sold at an average price of $141.35, for a total transaction of $17,668,750.00. Following the completion of the transaction, the chief executive officer now directly owns 237,407 shares of the company’s stock, valued at approximately $33,557,479.45. The disclosure for this sale can be found here. In the last three months, insiders sold 458,028 shares of company stock valued at $67,470,259. 1.80% of the stock is owned by insiders.

Large investors have recently modified their holdings of the stock. Achmea Investment Management B.V. lifted its stake in Vertex Pharmaceuticals by 68.0% in the 2nd quarter. Achmea Investment Management B.V. now owns 8,668 shares of the pharmaceutical company’s stock valued at $1,116,000 after purchasing an additional 3,507 shares during the last quarter. Picton Mahoney Asset Management bought a new position in Vertex Pharmaceuticals in the 3rd quarter valued at approximately $13,077,000. Janus Henderson Group PLC lifted its stake in Vertex Pharmaceuticals by 1,191.3% in the 2nd quarter. Janus Henderson Group PLC now owns 448,975 shares of the pharmaceutical company’s stock valued at $57,860,000 after purchasing an additional 414,206 shares during the last quarter. Icon Advisers Inc. Co. lifted its stake in Vertex Pharmaceuticals by 93.1% in the 3rd quarter. Icon Advisers Inc. Co. now owns 54,463 shares of the pharmaceutical company’s stock valued at $8,281,000 after purchasing an additional 26,253 shares during the last quarter. Finally, IFM Investors Pty Ltd bought a new position in Vertex Pharmaceuticals in the 3rd quarter valued at approximately $1,064,000. 93.19% of the stock is owned by institutional investors and hedge funds.

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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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