FY2024 Earnings Forecast for Vertex Pharmaceuticals Incorporated Issued By William Blair (NASDAQ:VRTX)

Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) – Equities researchers at William Blair increased their FY2024 earnings per share (EPS) estimates for shares of Vertex Pharmaceuticals in a note issued to investors on Wednesday, April 17th. William Blair analyst M. Minter now forecasts that the pharmaceutical company will post earnings of $15.32 per share for the year, up from their previous estimate of $15.28. William Blair currently has a “Outperform” rating on the stock. The consensus estimate for Vertex Pharmaceuticals’ current full-year earnings is $14.95 per share.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly earnings data on Monday, February 5th. The pharmaceutical company reported $4.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.85 by $0.35. The firm had revenue of $2.52 billion for the quarter, compared to the consensus estimate of $2.50 billion. Vertex Pharmaceuticals had a return on equity of 21.91% and a net margin of 36.68%. During the same quarter in the previous year, the business earned $3.33 EPS.

Several other research firms also recently issued reports on VRTX. Robert W. Baird downgraded Vertex Pharmaceuticals from a “neutral” rating to an “underperform” rating and set a $325.00 price objective on the stock. in a report on Wednesday, January 31st. Wolfe Research began coverage on Vertex Pharmaceuticals in a research note on Thursday, February 15th. They set an “outperform” rating and a $515.00 target price for the company. HC Wainwright boosted their target price on Vertex Pharmaceuticals from $457.00 to $462.00 and gave the stock a “buy” rating in a research note on Thursday, April 11th. Canaccord Genuity Group reissued a “sell” rating and set a $371.00 target price on shares of Vertex Pharmaceuticals in a research note on Friday, April 12th. Finally, Maxim Group cut Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Wednesday, January 31st. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $429.45.

Vertex Pharmaceuticals Price Performance

VRTX stock opened at $394.28 on Friday. The company has a current ratio of 3.99, a quick ratio of 3.78 and a debt-to-equity ratio of 0.02. The company has a market capitalization of $101.91 billion, a PE ratio of 28.39, a P/E/G ratio of 1.85 and a beta of 0.35. Vertex Pharmaceuticals has a 12-month low of $316.43 and a 12-month high of $448.40. The business’s fifty day moving average price is $413.60 and its 200 day moving average price is $397.06.

Institutional Trading of Vertex Pharmaceuticals

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Venturi Wealth Management LLC raised its stake in Vertex Pharmaceuticals by 1.1% during the 4th quarter. Venturi Wealth Management LLC now owns 2,293 shares of the pharmaceutical company’s stock valued at $933,000 after acquiring an additional 24 shares during the last quarter. Nicholas Hoffman & Company LLC. raised its stake in shares of Vertex Pharmaceuticals by 3.9% during the 4th quarter. Nicholas Hoffman & Company LLC. now owns 636 shares of the pharmaceutical company’s stock worth $259,000 after buying an additional 24 shares in the last quarter. Hohimer Wealth Management LLC raised its stake in shares of Vertex Pharmaceuticals by 0.8% during the 4th quarter. Hohimer Wealth Management LLC now owns 2,932 shares of the pharmaceutical company’s stock worth $1,193,000 after buying an additional 24 shares in the last quarter. Johnson Financial Group Inc. raised its stake in shares of Vertex Pharmaceuticals by 2.5% during the 4th quarter. Johnson Financial Group Inc. now owns 1,001 shares of the pharmaceutical company’s stock worth $407,000 after buying an additional 24 shares in the last quarter. Finally, Arthur M. Cohen & Associates LLC raised its stake in shares of Vertex Pharmaceuticals by 3.2% during the 4th quarter. Arthur M. Cohen & Associates LLC now owns 800 shares of the pharmaceutical company’s stock worth $326,000 after buying an additional 25 shares in the last quarter. 90.96% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Vertex Pharmaceuticals

In related news, EVP Amit Sachdev sold 3,222 shares of the company’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $420.24, for a total value of $1,354,013.28. Following the completion of the sale, the executive vice president now directly owns 74,364 shares of the company’s stock, valued at approximately $31,250,727.36. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Vertex Pharmaceuticals news, EVP Amit Sachdev sold 3,222 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $420.24, for a total transaction of $1,354,013.28. Following the completion of the sale, the executive vice president now directly owns 74,364 shares of the company’s stock, valued at approximately $31,250,727.36. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Stuart A. Arbuckle sold 4,295 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $420.24, for a total value of $1,804,930.80. Following the sale, the chief operating officer now directly owns 75,718 shares of the company’s stock, valued at $31,819,732.32. The disclosure for this sale can be found here. Insiders sold a total of 12,381 shares of company stock valued at $5,203,249 in the last three months. 0.20% of the stock is currently owned by company insiders.

Vertex Pharmaceuticals Company Profile

Vertex Pharmaceuticals Incorporated, a biotechnology company, engages in developing and commercializing therapies for treating cystic fibrosis (CF). It markets TRIKAFTA/KAFTRIO for people with CF with at least one F508del mutation for 2 years of age or older; SYMDEKO/SYMKEVI for people with CF for 6 years of age or older; ORKAMBI for CF patients 1 year or older; and KALYDECO for the treatment of patients with 1 year or older who have CF with ivacaftor.