Vertex Pharmaceuticals (NASDAQ:VRTX) posted its quarterly earnings data on Thursday. The pharmaceutical company reported $2.61 EPS for the quarter, beating the Zacks’ consensus estimate of $1.75 by $0.86, MarketWatch Earnings reports. The business had revenue of $1.52 billion for the quarter, compared to analyst estimates of $1.41 billion. Vertex Pharmaceuticals had a net margin of 38.51% and a return on equity of 30.45%. Vertex Pharmaceuticals updated its FY 2020
After-Hours guidance to EPS.
Shares of Vertex Pharmaceuticals stock opened at $272.00 on Friday. The stock has a 50-day moving average price of $287.06 and a 200 day moving average price of $257.51. The company has a market cap of $70.52 billion, a P/E ratio of 39.53, a P/E/G ratio of 1.31 and a beta of 0.94. The company has a current ratio of 3.54, a quick ratio of 3.42 and a debt-to-equity ratio of 0.08. Vertex Pharmaceuticals has a 1 year low of $165.23 and a 1 year high of $306.08.
VRTX has been the topic of several research analyst reports. Guggenheim lifted their price target on Vertex Pharmaceuticals from $266.00 to $290.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. Piper Sandler raised their target price on Vertex Pharmaceuticals from $302.00 to $327.00 and gave the company an “overweight” rating in a research note on Friday. Goldman Sachs Group raised their target price on Vertex Pharmaceuticals from $290.00 to $330.00 and gave the company a “conviction-buy” rating in a research note on Thursday, July 2nd. Cowen raised their target price on Vertex Pharmaceuticals from $265.00 to $300.00 and gave the company an “outperform” rating in a research note on Thursday, July 16th. Finally, Jefferies Financial Group raised their target price on Vertex Pharmaceuticals from $295.00 to $340.00 and gave the company a “buy” rating in a research note on Tuesday, July 14th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the stock. Vertex Pharmaceuticals has an average rating of “Buy” and a consensus price target of $295.81.
In other news, SVP Paul M. Silva sold 809 shares of the firm’s stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $260.87, for a total transaction of $211,043.83. Following the completion of the sale, the senior vice president now directly owns 15,741 shares of the company’s stock, valued at approximately $4,106,354.67. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Charles F. Wagner, Jr. sold 700 shares of the firm’s stock in a transaction dated Friday, July 10th. The stock was sold at an average price of $293.15, for a total value of $205,205.00. Following the sale, the chief financial officer now directly owns 16,786 shares of the company’s stock, valued at $4,920,815.90. The disclosure for this sale can be found here. Over the last three months, insiders sold 298,911 shares of company stock valued at $82,787,831. Company insiders own 0.70% of the company’s stock.
Vertex Pharmaceuticals Company Profile
Vertex Pharmaceuticals Incorporated engages in developing and commercializing therapies for treating cystic fibrosis. The company markets SYMDEKO/SYMKEVI, ORKAMBI, and KALYDECO to treat patients with cystic fibrosis who have specific mutations in their cystic fibrosis transmembrane conductance regulator gene.
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