What is Zacks Research’s Estimate for VRTX FY2024 Earnings?

Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) – Analysts at Zacks Research decreased their FY2024 earnings per share (EPS) estimates for Vertex Pharmaceuticals in a research report issued on Tuesday, November 19th. Zacks Research analyst R. Department now anticipates that the pharmaceutical company will post earnings per share of ($2.09) for the year, down from their prior estimate of ($2.07). The consensus estimate for Vertex Pharmaceuticals’ current full-year earnings is ($1.82) per share. Zacks Research also issued estimates for Vertex Pharmaceuticals’ Q4 2024 earnings at $3.33 EPS, Q1 2025 earnings at $3.82 EPS, Q2 2025 earnings at $3.93 EPS, Q3 2025 earnings at $3.99 EPS, Q4 2025 earnings at $3.94 EPS, FY2025 earnings at $15.69 EPS, Q1 2026 earnings at $3.96 EPS, Q2 2026 earnings at $4.09 EPS, Q3 2026 earnings at $4.28 EPS and FY2026 earnings at $16.84 EPS.

Other equities research analysts also recently issued reports about the stock. Raymond James reiterated a “market perform” rating on shares of Vertex Pharmaceuticals in a research report on Thursday, October 10th. Cantor Fitzgerald reiterated an “overweight” rating and set a $480.00 target price on shares of Vertex Pharmaceuticals in a research report on Tuesday, November 5th. UBS Group raised their price target on Vertex Pharmaceuticals from $562.00 to $586.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Piper Sandler upped their price objective on shares of Vertex Pharmaceuticals from $500.00 to $535.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Finally, StockNews.com lowered shares of Vertex Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Thursday. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $499.12.

Vertex Pharmaceuticals Stock Performance

NASDAQ VRTX opened at $449.32 on Friday. The firm has a 50-day moving average price of $474.80 and a two-hundred day moving average price of $472.58. Vertex Pharmaceuticals has a 12-month low of $346.29 and a 12-month high of $519.88. The company has a market capitalization of $115.71 billion, a P/E ratio of -225.79 and a beta of 0.39. The company has a quick ratio of 2.20, a current ratio of 2.47 and a debt-to-equity ratio of 0.01.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly earnings data on Monday, November 4th. The pharmaceutical company reported $4.38 earnings per share for the quarter, topping the consensus estimate of $3.61 by $0.77. Vertex Pharmaceuticals had a negative return on equity of 1.91% and a negative net margin of 4.52%. The firm had revenue of $2.77 billion for the quarter, compared to analysts’ expectations of $2.69 billion. During the same quarter last year, the business earned $3.67 EPS. The company’s quarterly revenue was up 11.6% compared to the same quarter last year.

Insider Buying and Selling

In related news, Chairman Jeffrey M. Leiden sold 3,784 shares of Vertex Pharmaceuticals stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $499.00, for a total value of $1,888,216.00. Following the transaction, the chairman now directly owns 9,994 shares of the company’s stock, valued at $4,987,006. The trade was a 27.46 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Sangeeta N. Bhatia sold 646 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $500.00, for a total transaction of $323,000.00. Following the transaction, the director now owns 4,435 shares of the company’s stock, valued at approximately $2,217,500. The trade was a 12.71 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 4,445 shares of company stock worth $2,218,394 in the last ninety days. Company insiders own 0.20% of the company’s stock.

Hedge Funds Weigh In On Vertex Pharmaceuticals

A number of hedge funds have recently bought and sold shares of VRTX. Northwest Investment Counselors LLC acquired a new stake in Vertex Pharmaceuticals during the 3rd quarter worth about $25,000. Dunhill Financial LLC boosted its position in shares of Vertex Pharmaceuticals by 70.6% during the 3rd quarter. Dunhill Financial LLC now owns 58 shares of the pharmaceutical company’s stock valued at $27,000 after purchasing an additional 24 shares in the last quarter. Highline Wealth Partners LLC acquired a new stake in Vertex Pharmaceuticals during the third quarter worth approximately $27,000. GHP Investment Advisors Inc. bought a new stake in Vertex Pharmaceuticals in the second quarter worth approximately $29,000. Finally, Legacy Investment Solutions LLC acquired a new position in Vertex Pharmaceuticals in the third quarter valued at approximately $33,000. Institutional investors own 90.96% of the company’s stock.

About Vertex Pharmaceuticals

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.