Equities analysts predict that Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) will report $883.94 million in sales for the current fiscal quarter, Zacks Investment Research reports. Eight analysts have made estimates for Vertex Pharmaceuticals’ earnings, with the highest sales estimate coming in at $915.00 million and the lowest estimate coming in at $864.31 million. Vertex Pharmaceuticals posted sales of $752.16 million during the same quarter last year, which suggests a positive year over year growth rate of 17.5%. The business is expected to report its next quarterly earnings results on Wednesday, July 24th.
According to Zacks, analysts expect that Vertex Pharmaceuticals will report full-year sales of $3.56 billion for the current fiscal year, with estimates ranging from $3.52 billion to $3.67 billion. For the next year, analysts expect that the firm will post sales of $4.36 billion, with estimates ranging from $4.14 billion to $4.54 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that cover Vertex Pharmaceuticals.
Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its earnings results on Tuesday, April 30th. The pharmaceutical company reported $1.14 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.65 by $0.49. Vertex Pharmaceuticals had a net margin of 66.01% and a return on equity of 22.63%. The business had revenue of $857.00 million during the quarter, compared to the consensus estimate of $853.00 million. During the same quarter last year, the firm earned $0.76 earnings per share. The business’s revenue for the quarter was up 34.3% on a year-over-year basis.
Several equities research analysts recently weighed in on VRTX shares. Maxim Group downgraded shares of Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Wednesday, February 6th. They noted that the move was a valuation call. Svb Leerink reissued a “market perform” rating on shares of Vertex Pharmaceuticals in a research report on Tuesday, March 19th. BidaskClub downgraded shares of Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Friday, March 22nd. Oppenheimer raised their price target on shares of Vertex Pharmaceuticals from $200.00 to $230.00 and gave the company an “outperform” rating in a research report on Thursday, March 7th. Finally, William Blair raised shares of Vertex Pharmaceuticals from a “market perform” rating to an “outperform” rating and set a $183.85 price target for the company in a research report on Tuesday, March 26th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and fifteen have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $203.35.
In other news, EVP Michael Parini sold 1,622 shares of the business’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $172.06, for a total value of $279,081.32. Following the sale, the executive vice president now directly owns 37,332 shares in the company, valued at approximately $6,423,343.92. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CMO Reshma Kewalramani sold 1,488 shares of the business’s stock in a transaction dated Tuesday, February 19th. The stock was sold at an average price of $186.94, for a total transaction of $278,166.72. Following the completion of the sale, the chief marketing officer now owns 14,038 shares in the company, valued at $2,624,263.72. The disclosure for this sale can be found here. Insiders have sold a total of 81,705 shares of company stock worth $14,703,196 in the last quarter. Corporate insiders own 0.70% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the stock. Baker Avenue Asset Management LP purchased a new stake in shares of Vertex Pharmaceuticals in the 1st quarter worth approximately $1,275,000. PointState Capital LP purchased a new stake in shares of Vertex Pharmaceuticals in the 1st quarter worth approximately $497,000. Massmutual Trust Co. FSB ADV lifted its position in shares of Vertex Pharmaceuticals by 15.3% in the 1st quarter. Massmutual Trust Co. FSB ADV now owns 12,516 shares of the pharmaceutical company’s stock worth $2,302,000 after purchasing an additional 1,664 shares during the period. Coastal Investment Advisors Inc. purchased a new stake in shares of Vertex Pharmaceuticals in the 1st quarter worth approximately $194,000. Finally, Advisors Asset Management Inc. lifted its position in shares of Vertex Pharmaceuticals by 14.6% in the 1st quarter. Advisors Asset Management Inc. now owns 20,119 shares of the pharmaceutical company’s stock worth $3,701,000 after purchasing an additional 2,569 shares during the period. 94.92% of the stock is owned by hedge funds and other institutional investors.
Shares of VRTX opened at $166.88 on Thursday. The company has a market cap of $42.74 billion, a P/E ratio of 58.97, a PEG ratio of 2.39 and a beta of 1.56. The company has a quick ratio of 3.66, a current ratio of 3.78 and a debt-to-equity ratio of 0.13. Vertex Pharmaceuticals has a twelve month low of $144.07 and a twelve month high of $195.81.
About Vertex Pharmaceuticals
Vertex Pharmaceuticals Incorporated 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.
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