Vertex Pharmaceuticals (NASDAQ:VRTX) Releases Quarterly Earnings Results, Beats Expectations By $1.10 EPS

Vertex Pharmaceuticals (NASDAQ:VRTX) issued its quarterly earnings data on Monday. The pharmaceutical company reported $4.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.66 by $1.10, Briefing.com reports. The company had revenue of $2.69 billion for the quarter, compared to analyst estimates of $2.58 billion. Vertex Pharmaceuticals had a net margin of 36.68% and a return on equity of 21.91%. Vertex Pharmaceuticals’s revenue was up 13.3% compared to the same quarter last year. During the same period last year, the company posted $2.67 earnings per share. Vertex Pharmaceuticals updated its FY 2024 guidance to EPS.

Vertex Pharmaceuticals Stock Up 0.4 %

VRTX opened at $402.50 on Tuesday. The company has a fifty day moving average of $408.44 and a two-hundred day moving average of $400.41. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.78 and a current ratio of 3.99. Vertex Pharmaceuticals has a fifty-two week low of $320.01 and a fifty-two week high of $448.40. The stock has a market capitalization of $104.03 billion, a price-to-earnings ratio of 28.98, a PEG ratio of 1.89 and a beta of 0.39.

Insider Activity

In other Vertex Pharmaceuticals news, EVP Ourania Tatsis sold 354 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $425.70, for a total value of $150,697.80. Following the sale, the executive vice president now directly owns 55,804 shares of the company’s stock, valued at $23,755,762.80. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, Chairman Jeffrey M. Leiden sold 2,656 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $419.51, for a total transaction of $1,114,218.56. Following the completion of the sale, the chairman now directly owns 27,644 shares in the company, valued at $11,596,934.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Ourania Tatsis sold 354 shares of the firm’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $425.70, for a total value of $150,697.80. Following the completion of the transaction, the executive vice president now owns 55,804 shares in the company, valued at approximately $23,755,762.80. The disclosure for this sale can be found here. Insiders have sold 12,381 shares of company stock worth $5,203,249 in the last ninety days. Company insiders own 0.20% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. JPMorgan Chase & Co. lifted their price target on Vertex Pharmaceuticals from $390.00 to $438.00 and gave the company an “overweight” rating in a report on Thursday, February 1st. UBS Group decreased their price target on shares of Vertex Pharmaceuticals from $498.00 to $466.00 and set a “buy” rating for the company in a research report on Wednesday, April 17th. Wolfe Research began coverage on shares of Vertex Pharmaceuticals in a research note on Thursday, February 15th. They set an “outperform” rating and a $515.00 price objective for the company. Evercore ISI upgraded shares of Vertex Pharmaceuticals from an “in-line” rating to an “outperform” rating and set a $438.00 target price for the company in a research note on Thursday, April 11th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $440.00 price target on shares of Vertex Pharmaceuticals in a research report on Tuesday, February 20th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $432.00.

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.