Analysts forecast that Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) will announce earnings per share of $0.52 for the current fiscal quarter, according to Zacks Investment Research. Ten analysts have issued estimates for Vertex Pharmaceuticals’ earnings, with the lowest EPS estimate coming in at $0.00 and the highest estimate coming in at $0.69. Vertex Pharmaceuticals posted earnings per share of $0.41 in the same quarter last year, which would indicate a positive year over year growth rate of 26.8%. The firm is scheduled to issue its next quarterly earnings results on Thursday, April 26th.
According to Zacks, analysts expect that Vertex Pharmaceuticals will report full-year earnings of $2.92 per share for the current financial year, with EPS estimates ranging from $2.61 to $3.51. For the next financial year, analysts expect that the company will report earnings of $4.41 per share, with EPS estimates ranging from $3.44 to $5.65. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of analysts that follow Vertex Pharmaceuticals.
Vertex Pharmaceuticals (NASDAQ:VRTX) last released its earnings results on Wednesday, January 31st. The pharmaceutical company reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.53 by $0.08. Vertex Pharmaceuticals had a net margin of 10.59% and a return on equity of 11.02%. The firm had revenue of $651.63 million during the quarter, compared to analyst estimates of $592.49 million. During the same quarter in the previous year, the business earned $0.35 EPS. The business’s quarterly revenue was up 42.1% compared to the same quarter last year.
VRTX has been the subject of several research analyst reports. HC Wainwright reissued a “hold” rating and issued a $103.00 price target on shares of Vertex Pharmaceuticals in a report on Tuesday, February 13th. Maxim Group reissued a “buy” rating and issued a $195.00 price target on shares of Vertex Pharmaceuticals in a report on Thursday, October 26th. Deutsche Bank initiated coverage on shares of Vertex Pharmaceuticals in a report on Tuesday, December 12th. They issued a “buy” rating and a $175.00 price target for the company. Royal Bank of Canada reissued a “buy” rating on shares of Vertex Pharmaceuticals in a report on Friday, October 27th. Finally, Oppenheimer boosted their price target on shares of Vertex Pharmaceuticals from $175.00 to $190.00 and gave the company an “outperform” rating in a report on Thursday, January 4th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and twenty-five have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $183.11.
In related news, CEO Jeffrey M. Leiden sold 125,000 shares of the business’s stock in a transaction on Monday, December 11th. The shares were sold at an average price of $141.35, for a total value of $17,668,750.00. Following the sale, the chief executive officer now directly owns 237,407 shares of the company’s stock, valued at approximately $33,557,479.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Thomas Graney sold 777 shares of the business’s stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $149.95, for a total transaction of $116,511.15. The disclosure for this sale can be found here. Insiders sold a total of 448,320 shares of company stock worth $69,007,823 over the last ninety days. 1.80% of the stock is currently owned by insiders.
Large investors have recently modified their holdings of the business. Advisory Services Network LLC lifted its position in Vertex Pharmaceuticals by 337.6% during the 4th quarter. Advisory Services Network LLC now owns 792 shares of the pharmaceutical company’s stock worth $119,000 after buying an additional 611 shares in the last quarter. Smithfield Trust Co. bought a new stake in Vertex Pharmaceuticals during the 3rd quarter worth about $135,000. Whittier Trust Co. lifted its position in Vertex Pharmaceuticals by 153.5% during the 4th quarter. Whittier Trust Co. now owns 991 shares of the pharmaceutical company’s stock worth $149,000 after buying an additional 600 shares in the last quarter. FNY Managed Accounts LLC bought a new stake in Vertex Pharmaceuticals during the 3rd quarter worth about $162,000. Finally, Financial Gravity Companies Inc. bought a new stake in Vertex Pharmaceuticals during the 4th quarter worth about $201,000. 94.10% of the stock is currently owned by hedge funds and other institutional investors.
Vertex Pharmaceuticals (NASDAQ VRTX) opened at $160.72 on Monday. Vertex Pharmaceuticals has a fifty-two week low of $84.39 and a fifty-two week high of $174.96. The stock has a market cap of $40,805.52, a price-to-earnings ratio of 154.54, a PEG ratio of 2.29 and a beta of 1.61. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.28 and a quick ratio of 3.14.
Vertex Pharmaceuticals announced that its board has approved a stock repurchase plan on Wednesday, January 31st that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the pharmaceutical company to purchase shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its stock is undervalued.
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About Vertex Pharmaceuticals
Vertex Pharmaceuticals Incorporated is engaged in discovering, developing, manufacturing and commercializing medicines for serious diseases. The Company is focused on developing and commercializing therapies for the treatment of cystic fibrosis (CF) and advancing its research and development programs in other indications.
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