Brokers Set Expectations for Vertex Pharmaceuticals Incorporated’s Q1 2024 Earnings (NASDAQ:VRTX)

Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) – Analysts at William Blair increased their Q1 2024 earnings per share estimates for Vertex Pharmaceuticals in a research report issued to clients and investors on Wednesday, April 17th. William Blair analyst M. Minter now expects that the pharmaceutical company will post earnings per share of $3.73 for the quarter, up from their previous estimate of $3.70. William Blair currently has a “Outperform” rating on the stock. The consensus estimate for Vertex Pharmaceuticals’ current full-year earnings is $15.08 per share. William Blair also issued estimates for Vertex Pharmaceuticals’ FY2025 earnings at $17.85 EPS.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings data on Monday, February 5th. The pharmaceutical company reported $4.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.85 by $0.35. The company had revenue of $2.52 billion for the quarter, compared to analyst estimates 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 last year, the company posted $3.33 earnings per share.

Several other equities research analysts also recently weighed in on VRTX. HC Wainwright increased their target price on shares of Vertex Pharmaceuticals from $457.00 to $462.00 and gave the stock a “buy” rating in a research note on Thursday, April 11th. Sanford C. Bernstein downgraded shares of Vertex Pharmaceuticals from an “outperform” rating to a “market perform” rating in a research note on Friday, February 2nd. Canaccord Genuity Group downgraded shares of Vertex Pharmaceuticals from a “hold” rating to a “sell” rating and increased their target price for the stock from $332.00 to $379.00 in a research note on Wednesday, January 24th. Oppenheimer reiterated an “outperform” rating and set a $500.00 target price on shares of Vertex Pharmaceuticals in a research note on Monday. Finally, Royal Bank of Canada increased their target price on shares of Vertex Pharmaceuticals from $397.00 to $420.00 and gave the stock a “sector perform” rating in a research note on Tuesday, February 6th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $424.62.

Vertex Pharmaceuticals Stock Performance

Shares of VRTX stock opened at $393.10 on Thursday. The stock’s 50-day moving average is $414.76 and its two-hundred day moving average is $396.76. The firm has a market cap of $101.60 billion, a price-to-earnings ratio of 28.30, a PEG ratio of 1.84 and a beta of 0.35. Vertex Pharmaceuticals has a 1 year low of $316.43 and a 1 year high of $448.40. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.78 and a current ratio of 3.99.

Insider Buying and Selling at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, Chairman Jeffrey M. Leiden sold 2,656 shares of the stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $419.51, for a total value of $1,114,218.56. Following the completion of the transaction, the chairman now directly owns 27,644 shares of the company’s stock, valued at $11,596,934.44. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, EVP Ourania Tatsis sold 354 shares of the stock in a transaction on Monday, February 26th. The stock was sold at an average price of $425.70, for a total transaction of $150,697.80. Following the sale, the executive vice president now owns 55,804 shares of the company’s stock, valued at $23,755,762.80. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Jeffrey M. Leiden sold 2,656 shares of the stock in a transaction on Monday, February 12th. The shares were sold at an average price of $419.51, for a total value of $1,114,218.56. Following the sale, the chairman now directly owns 27,644 shares in the company, valued at approximately $11,596,934.44. The disclosure for this sale can be found here. Over the last three months, insiders sold 12,381 shares of company stock valued at $5,203,249. Corporate insiders own 0.20% of the company’s stock.

Institutional Trading of Vertex Pharmaceuticals

Large investors have recently made changes to their positions in the stock. OFI Invest Asset Management acquired a new stake in Vertex Pharmaceuticals in the 3rd quarter worth about $25,000. University of Texas Texas AM Investment Managment Co. acquired a new stake in Vertex Pharmaceuticals in the 4th quarter worth about $25,000. Arlington Trust Co LLC boosted its stake in Vertex Pharmaceuticals by 97.1% in the 4th quarter. Arlington Trust Co LLC now owns 67 shares of the pharmaceutical company’s stock worth $27,000 after buying an additional 33 shares during the last quarter. Annapolis Financial Services LLC acquired a new stake in Vertex Pharmaceuticals in the 1st quarter worth about $27,000. Finally, ICA Group Wealth Management LLC acquired a new stake in Vertex Pharmaceuticals in the 4th quarter worth about $28,000. Institutional investors and hedge funds own 90.96% of the company’s stock.

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.