Brokerages Expect Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Will Post Earnings of $1.12 Per Share

Equities analysts expect Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) to report $1.12 earnings per share for the current fiscal quarter, according to Zacks. Eight analysts have provided estimates for Vertex Pharmaceuticals’ earnings. The highest EPS estimate is $1.28 and the lowest is $0.90. Vertex Pharmaceuticals reported earnings of $1.09 per share in the same quarter last year, which indicates a positive year over year growth rate of 2.8%. The firm is expected to announce its next earnings report on Wednesday, October 23rd.

On average, analysts expect that Vertex Pharmaceuticals will report full year earnings of $4.58 per share for the current financial year, with EPS estimates ranging from $4.10 to $4.88. For the next year, analysts expect that the company will report earnings of $6.03 per share, with EPS estimates ranging from $5.36 to $6.51. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research firms that cover Vertex Pharmaceuticals.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings data on Wednesday, July 31st. The pharmaceutical company reported $0.99 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.75 by $0.24. The company had revenue of $941.29 million for the quarter, compared to the consensus estimate of $884.66 million. Vertex Pharmaceuticals had a net margin of 64.13% and a return on equity of 21.73%. Vertex Pharmaceuticals’s revenue for the quarter was up 25.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.94 EPS.



A number of equities research analysts have recently commented on the stock. JPMorgan Chase & Co. reiterated a “buy” rating and set a $212.00 price target on shares of Vertex Pharmaceuticals in a report on Thursday, August 1st. Credit Suisse Group boosted their price objective on shares of Vertex Pharmaceuticals from $209.00 to $213.00 and gave the stock an “outperform” rating in a report on Thursday, August 1st. Cowen set a $220.00 price objective on Vertex Pharmaceuticals and gave the company a “buy” rating in a research report on Wednesday, July 31st. Needham & Company LLC downgraded Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. They noted that the move was a valuation call. Finally, HC Wainwright reissued a “buy” rating and issued a $220.00 target price on shares of Vertex Pharmaceuticals in a report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $210.68.

In related news, EVP Stuart A. Arbuckle sold 2,125 shares of the company’s stock in a transaction on Wednesday, June 19th. The stock was sold at an average price of $181.89, for a total transaction of $386,516.25. Following the completion of the sale, the executive vice president now owns 35,365 shares in the company, valued at $6,432,539.85. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP David Altshuler sold 12,501 shares of the stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $186.38, for a total value of $2,329,936.38. Following the completion of the transaction, the executive vice president now directly owns 35,803 shares in the company, valued at approximately $6,672,963.14. The disclosure for this sale can be found here. Insiders have sold a total of 93,641 shares of company stock worth $16,705,255 over the last three months. Insiders own 0.70% of the company’s stock.

Large investors have recently made changes to their positions in the business. FMR LLC lifted its stake in shares of Vertex Pharmaceuticals by 19.3% in the 1st quarter. FMR LLC now owns 24,434,159 shares of the pharmaceutical company’s stock worth $4,494,663,000 after purchasing an additional 3,951,050 shares during the period. BlackRock Inc. raised its position in Vertex Pharmaceuticals by 2.6% in the second quarter. BlackRock Inc. now owns 20,708,669 shares of the pharmaceutical company’s stock worth $3,797,554,000 after acquiring an additional 532,371 shares during the period. Vanguard Group Inc. raised its position in Vertex Pharmaceuticals by 0.9% in the second quarter. Vanguard Group Inc. now owns 19,661,800 shares of the pharmaceutical company’s stock worth $3,605,582,000 after acquiring an additional 180,239 shares during the period. Renaissance Technologies LLC boosted its stake in shares of Vertex Pharmaceuticals by 9.4% during the 2nd quarter. Renaissance Technologies LLC now owns 5,555,817 shares of the pharmaceutical company’s stock worth $1,018,826,000 after acquiring an additional 477,100 shares during the last quarter. Finally, Invesco Ltd. boosted its stake in shares of Vertex Pharmaceuticals by 9.0% during the 2nd quarter. Invesco Ltd. now owns 4,063,908 shares of the pharmaceutical company’s stock worth $745,238,000 after acquiring an additional 335,938 shares during the last quarter. 95.03% of the stock is currently owned by institutional investors and hedge funds.

Shares of NASDAQ VRTX traded down $3.80 during midday trading on Thursday, hitting $171.01. The stock had a trading volume of 1,656,899 shares, compared to its average volume of 1,295,599. The business’s 50 day moving average is $178.32 and its 200-day moving average is $177.87. The company has a market cap of $44.93 billion, a P/E ratio of 60.43, a PEG ratio of 2.36 and a beta of 1.37. Vertex Pharmaceuticals has a 52 week low of $151.80 and a 52 week high of $195.81. The company has a quick ratio of 3.63, a current ratio of 3.74 and a debt-to-equity ratio of 0.12.

Vertex Pharmaceuticals declared that its board has authorized a stock repurchase plan on Wednesday, July 31st that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the pharmaceutical company to purchase up to 1.2% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.

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.

Further Reading: What is a capital gain?

Get a free copy of the Zacks research report on Vertex Pharmaceuticals (VRTX)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Vertex Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Vertex Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.