Zacks: Brokerages Expect Vertex Pharmaceuticals Incorporated (VRTX) Will Announce Earnings of $1.00 Per Share

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Brokerages expect that Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) will report $1.00 earnings per share for the current quarter, Zacks Investment Research reports. Ten analysts have made estimates for Vertex Pharmaceuticals’ earnings. The highest EPS estimate is $1.07 and the lowest is $0.95. Vertex Pharmaceuticals reported earnings per share of $0.53 during the same quarter last year, which indicates a positive year over year growth rate of 88.7%. The business is scheduled to report its next earnings report after the market closes on Wednesday, October 24th.

On average, analysts expect that Vertex Pharmaceuticals will report full year earnings of $3.75 per share for the current year, with EPS estimates ranging from $3.55 to $3.98. For the next fiscal year, analysts anticipate that the business will report earnings of $4.39 per share, with EPS estimates ranging from $3.38 to $5.65. Zacks’ EPS averages are an average based on a survey of sell-side research analysts that follow Vertex Pharmaceuticals.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly earnings results on Wednesday, July 25th. The pharmaceutical company reported $0.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.54. The company had revenue of $752.20 million for the quarter, compared to analyst estimates of $680.86 million. Vertex Pharmaceuticals had a net margin of 15.84% and a return on equity of 19.86%. The business’s quarterly revenue was up 38.2% on a year-over-year basis. During the same period last year, the business posted $0.39 EPS.

VRTX has been the topic of several research analyst reports. BidaskClub upgraded shares of Vertex Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Saturday, June 23rd. Zacks Investment Research upgraded shares of Vertex Pharmaceuticals from a “hold” rating to a “buy” rating and set a $178.00 price target on the stock in a research report on Saturday, June 30th. JPMorgan Chase & Co. restated a “buy” rating on shares of Vertex Pharmaceuticals in a research report on Sunday, July 1st. Jefferies Financial Group raised their price target on shares of Vertex Pharmaceuticals to $210.00 and gave the stock a “buy” rating in a research report on Monday, July 16th. Finally, BMO Capital Markets lifted their target price on shares of Vertex Pharmaceuticals to $204.00 and gave the company an “outperform” rating in a research report on Thursday, July 26th. Four research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $197.68.

NASDAQ VRTX opened at $175.69 on Wednesday. The company has a current ratio of 3.67, a quick ratio of 3.55 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $47.40 billion, a price-to-earnings ratio of 219.61, a P/E/G ratio of 1.87 and a beta of 1.48. Vertex Pharmaceuticals has a 52-week low of $136.50 and a 52-week high of $194.92.

In other Vertex Pharmaceuticals news, EVP Stuart A. Arbuckle sold 10,083 shares of the business’s stock in a transaction dated Friday, August 3rd. The shares were sold at an average price of $175.29, for a total value of $1,767,449.07. Following the transaction, the executive vice president now directly owns 48,877 shares in the company, valued at $8,567,649.33. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Thomas Graney sold 1,076 shares of the business’s stock in a transaction dated Monday, October 1st. The shares were sold at an average price of $193.24, for a total transaction of $207,926.24. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 33,325 shares of company stock worth $6,135,340. 1.80% of the stock is owned by company insiders.

A number of large investors have recently added to or reduced their stakes in the business. Renaissance Technologies LLC boosted its position in Vertex Pharmaceuticals by 42.1% in the second quarter. Renaissance Technologies LLC now owns 4,050,617 shares of the pharmaceutical company’s stock valued at $688,443,000 after buying an additional 1,199,700 shares in the last quarter. Wells Fargo & Company MN boosted its position in Vertex Pharmaceuticals by 4.1% in the second quarter. Wells Fargo & Company MN now owns 2,087,508 shares of the pharmaceutical company’s stock valued at $354,794,000 after buying an additional 82,811 shares in the last quarter. Fred Alger Management Inc. boosted its position in Vertex Pharmaceuticals by 10.8% in the second quarter. Fred Alger Management Inc. now owns 1,960,493 shares of the pharmaceutical company’s stock valued at $333,205,000 after buying an additional 191,072 shares in the last quarter. Putnam Investments LLC boosted its position in Vertex Pharmaceuticals by 2.3% in the second quarter. Putnam Investments LLC now owns 1,751,760 shares of the pharmaceutical company’s stock valued at $297,730,000 after buying an additional 39,166 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its position in Vertex Pharmaceuticals by 9.5% in the second quarter. Massachusetts Financial Services Co. MA now owns 1,663,552 shares of the pharmaceutical company’s stock valued at $282,738,000 after buying an additional 143,730 shares in the last quarter. Hedge funds and other institutional investors own 93.53% of the company’s stock.

About Vertex Pharmaceuticals

Vertex Pharmaceuticals Incorporated, a biotechnology company, develops medicines for serious diseases. The company focuses on developing and commercializing therapies for the treatment of cystic fibrosis (CF) and advancing its research and development programs. It markets ORKAMBI (lumacaftor in combination with ivacaftor) to treat patients with CF 12 years of age and older who are homozygous for the F508del mutation in their cystic fibrosis transmembrane conductance regulator (CFTR) gene; KALYDECO (ivacaftor) for the treatment of patients with CF who have specific mutations in their CFTR gene, including the G551D mutation; and SYMDEKO (tezacaftor in combination with ivacaftor) to treat patients with CF 12 years of age and older who are F508del homozygous or who have 1 mutation that is responsive to tezacaftor/ivacaftor.

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