Vertex Pharmaceuticals (NASDAQ:VRTX – Get Free Report) is set to post its quarterly earnings results after the market closes on Tuesday, August 1st. Analysts expect Vertex Pharmaceuticals to post earnings of $3.48 per share for the quarter. Vertex Pharmaceuticals has set its FY 2023 guidance at EPS.Individual that wish to listen to the company’s earnings conference call can do so using this link.
Vertex Pharmaceuticals (NASDAQ:VRTX – Get Free Report) last released its quarterly earnings data on Monday, May 1st. The pharmaceutical company reported $3.05 EPS for the quarter, beating analysts’ consensus estimates of $2.51 by $0.54. Vertex Pharmaceuticals had a return on equity of 25.06% and a net margin of 35.40%. The firm had revenue of $2.37 billion for the quarter, compared to analysts’ expectations of $2.34 billion. During the same period in the prior year, the firm posted $3.16 earnings per share. The firm’s quarterly revenue was up 13.2% on a year-over-year basis. On average, analysts expect Vertex Pharmaceuticals to post $13 EPS for the current fiscal year and $14 EPS for the next fiscal year.
Vertex Pharmaceuticals Trading Down 1.5 %
VRTX opened at $357.05 on Tuesday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 4.11 and a current ratio of 4.28. The business’s 50 day moving average price is $342.87 and its 200 day moving average price is $322.80. Vertex Pharmaceuticals has a one year low of $271.61 and a one year high of $367.00. The stock has a market capitalization of $91.96 billion, a PE ratio of 28.43, a P/E/G ratio of 3.01 and a beta of 0.51.
Insider Buying and Selling
In related news, CEO Reshma Kewalramani sold 3,317 shares of Vertex Pharmaceuticals stock in a transaction dated Thursday, April 27th. The stock was sold at an average price of $339.08, for a total value of $1,124,728.36. Following the transaction, the chief executive officer now owns 126,652 shares of the company’s stock, valued at approximately $42,945,160.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Bastiano Sanna sold 1,622 shares of the firm’s stock in a transaction that occurred on Tuesday, May 2nd. The stock was sold at an average price of $350.66, for a total value of $568,770.52. Following the transaction, the executive vice president now directly owns 38,091 shares of the company’s stock, valued at approximately $13,356,990.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Reshma Kewalramani sold 3,317 shares of the company’s stock in a transaction on Thursday, April 27th. The shares were sold at an average price of $339.08, for a total value of $1,124,728.36. Following the completion of the transaction, the chief executive officer now owns 126,652 shares of the company’s stock, valued at $42,945,160.16. The disclosure for this sale can be found here. In the last quarter, insiders have sold 45,297 shares of company stock valued at $15,914,580. 0.30% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On Vertex Pharmaceuticals
Several hedge funds have recently added to or reduced their stakes in the company. Norges Bank bought a new position in shares of Vertex Pharmaceuticals during the 4th quarter worth approximately $707,950,000. Macquarie Group Ltd. raised its holdings in Vertex Pharmaceuticals by 232.3% in the 2nd quarter. Macquarie Group Ltd. now owns 933,179 shares of the pharmaceutical company’s stock valued at $262,961,000 after acquiring an additional 652,321 shares in the last quarter. Morgan Stanley raised its holdings in Vertex Pharmaceuticals by 33.1% in the 4th quarter. Morgan Stanley now owns 2,578,444 shares of the pharmaceutical company’s stock valued at $744,603,000 after acquiring an additional 640,899 shares in the last quarter. Man Group plc raised its holdings in Vertex Pharmaceuticals by 144.6% in the 4th quarter. Man Group plc now owns 576,398 shares of the pharmaceutical company’s stock valued at $166,452,000 after acquiring an additional 340,716 shares in the last quarter. Finally, Penn Capital Management Company LLC acquired a new position in shares of Vertex Pharmaceuticals during the 1st quarter worth $51,370,000. Institutional investors own 91.37% of the company’s stock.
Wall Street Analyst Weigh In
Several brokerages have issued reports on VRTX. HC Wainwright raised their price objective on Vertex Pharmaceuticals from $326.00 to $380.00 in a report on Tuesday, May 2nd. Bank of America raised their price objective on shares of Vertex Pharmaceuticals from $350.00 to $400.00 and gave the stock a “buy” rating in a research note on Friday. Sanford C. Bernstein raised their price objective on shares of Vertex Pharmaceuticals from $344.00 to $363.00 in a research note on Wednesday, May 3rd. Morgan Stanley lifted their target price on shares of Vertex Pharmaceuticals from $305.00 to $340.00 and gave the stock an “equal weight” rating in a research note on Monday, July 3rd. Finally, Barclays lifted their target price on shares of Vertex Pharmaceuticals from $342.00 to $384.00 in a research note on Tuesday, May 2nd. Six investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Vertex Pharmaceuticals has an average rating of “Moderate Buy” and an average target price of $359.00.
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 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.
Featured Articles
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Vertex Pharmaceuticals, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Vertex Pharmaceuticals wasn’t on the list.
While Vertex Pharmaceuticals currently has a “Moderate Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.
MarketBeat’s analysts have just released their top five short plays for August 2023. Learn which stocks have the most short interest and how to trade them. Click the link below to see which companies made the list.
