Vertex Pharmaceuticals (NASDAQ:VRTX) Issues Earnings Results, Beats Estimates By $0.35 EPS

Vertex Pharmaceuticals (NASDAQ:VRTXGet Free Report) posted its earnings results on Monday. The pharmaceutical company reported $4.20 EPS for the quarter, beating the consensus estimate of $3.85 by $0.35, RTT News reports. The company had revenue of $2.52 billion during the quarter, compared to analyst estimates of $2.50 billion. Vertex Pharmaceuticals had a return on equity of 22.65% and a net margin of 36.68%. During the same period in the prior year, the company earned $3.33 earnings per share. Vertex Pharmaceuticals updated its FY 2024 guidance to EPS.

Vertex Pharmaceuticals Price Performance

VRTX opened at $416.13 on Wednesday. Vertex Pharmaceuticals has a 12-month low of $283.60 and a 12-month high of $448.40. The company has a quick ratio of 3.89, a current ratio of 4.08 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $107.23 billion, a P/E ratio of 29.96, a PEG ratio of 2.40 and a beta of 0.36. The stock has a fifty day moving average of $407.08 and a 200-day moving average of $373.59.

Insider Transactions at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, Chairman Jeffrey M. Leiden sold 6,648 shares of the stock in a transaction on Monday, January 8th. The shares were sold at an average price of $419.07, for a total transaction of $2,785,977.36. Following the transaction, the chairman now directly owns 2,423 shares of the company’s stock, valued at $1,015,406.61. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Vertex Pharmaceuticals

Several hedge funds have recently bought and sold shares of VRTX. Compass Wealth Management LLC bought a new stake in Vertex Pharmaceuticals during the fourth quarter valued at about $29,000. Cornerstone Planning Group LLC bought a new stake in Vertex Pharmaceuticals during the second quarter valued at about $33,000. PCA Investment Advisory Services Inc. bought a new stake in Vertex Pharmaceuticals during the second quarter valued at about $39,000. Atlas Capital Advisors LLC bought a new stake in Vertex Pharmaceuticals during the second quarter valued at about $46,000. Finally, Coppell Advisory Solutions Corp. bought a new stake in Vertex Pharmaceuticals during the fourth quarter valued at about $46,000. 90.77% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Morgan Stanley upped their target price on Vertex Pharmaceuticals from $359.00 to $364.00 and gave the company an “equal weight” rating in a report on Wednesday, November 8th. StockNews.com raised Vertex Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a report on Friday, January 12th. William Blair reissued an “outperform” rating on shares of Vertex Pharmaceuticals in a report on Tuesday. JPMorgan Chase & Co. increased their price objective on Vertex Pharmaceuticals from $390.00 to $438.00 and gave the stock an “overweight” rating in a report on Thursday, February 1st. Finally, Canaccord Genuity Group lowered Vertex Pharmaceuticals from a “hold” rating to a “sell” rating and increased their price objective for the stock from $332.00 to $379.00 in a report on Wednesday, January 24th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $403.79.

Read Our Latest Stock Analysis on VRTX

Vertex Pharmaceuticals Company Profile

(Get Free Report)

Vertex Pharmaceuticals Incorporated, a biotechnology company, engages in developing and commercializing therapies for treating cystic fibrosis (CF). It markets TRIKAFTA/KAFTRIO and SYMDEKO/SYMKEVI for people with CF with at least one F508del mutation for 6 years of age or older; ORKAMBI for CF homozygous F508del mutation for CF patients 2 year or older; and KALYDECO for the treatment of patients with 4 months or older who have CF with a mutation that is responsive to ivacaftor, and R117H mutation or one of certain gating mutations.

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Earnings History for Vertex Pharmaceuticals (NASDAQ:VRTX)

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