$822.63 Million in Sales Expected for Vertex Pharmaceuticals Incorporated (VRTX) This Quarter

Wall Street brokerages predict that Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) will announce $822.63 million in sales for the current quarter, according to Zacks Investment Research. Ten analysts have provided estimates for Vertex Pharmaceuticals’ earnings, with the lowest sales estimate coming in at $793.00 million and the highest estimate coming in at $878.52 million. Vertex Pharmaceuticals reported sales of $651.63 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 26.2%. The firm is expected to report its next earnings results on Wednesday, January 30th.

According to Zacks, analysts expect that Vertex Pharmaceuticals will report full-year sales of $3.00 billion for the current fiscal year, with estimates ranging from $2.97 billion to $3.05 billion. For the next year, analysts forecast that the firm will report sales of $3.53 billion, with estimates ranging from $3.05 billion to $3.83 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that that provide coverage for Vertex Pharmaceuticals.

Vertex Pharmaceuticals (NASDAQ:VRTX) last posted its quarterly earnings results on Wednesday, October 24th. The pharmaceutical company reported $1.09 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.02 by $0.07. The firm had revenue of $784.54 million during the quarter, compared to the consensus estimate of $782.95 million. Vertex Pharmaceuticals had a return on equity of 19.86% and a net margin of 15.84%. During the same period last year, the company earned $0.53 earnings per share.

VRTX has been the subject of a number of analyst reports. Zacks Investment Research upgraded Vertex Pharmaceuticals from a “hold” rating to a “buy” rating and set a $178.00 price target for the company in a research note on Saturday, June 30th. Cantor Fitzgerald initiated coverage on Vertex Pharmaceuticals in a research note on Monday, October 1st. They issued an “overweight” rating and a $217.00 price target for the company. Piper Jaffray Companies decreased their price target on Vertex Pharmaceuticals to $217.00 and set an “overweight” rating for the company in a research note on Friday. Argus raised their price target on Vertex Pharmaceuticals to $200.00 and gave the company an “average” rating in a research note on Tuesday, August 28th. They noted that the move was a valuation call. Finally, Citigroup raised their price target on Vertex Pharmaceuticals from $203.00 to $206.00 and gave the company a “buy” rating in a research note on Monday, July 30th. Three research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the stock. Vertex Pharmaceuticals currently has a consensus rating of “Buy” and an average price target of $201.83.

VRTX stock traded up $3.87 during mid-day trading on Friday, reaching $169.48. The company had a trading volume of 2,629,176 shares, compared to its average volume of 1,544,802. The company has a quick ratio of 3.55, a current ratio of 3.67 and a debt-to-equity ratio of 0.01. The company has a market cap of $45.34 billion, a price-to-earnings ratio of 211.85, a P/E/G ratio of 1.79 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 news, CFO Thomas Graney sold 1,076 shares of the firm’s stock in a transaction that occurred on Monday, October 1st. The stock was sold at an average price of $193.24, for a total value of $207,926.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Stuart A. Arbuckle sold 10,083 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the executive vice president now directly owns 48,877 shares of the company’s stock, valued at $8,567,649.33. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 33,325 shares of company stock valued at $6,135,340. Insiders own 0.75% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in VRTX. Mount Yale Investment Advisors LLC acquired a new stake in Vertex Pharmaceuticals during the 1st quarter worth approximately $101,000. Kaizen Advisory LLC lifted its holdings in Vertex Pharmaceuticals by 147.3% during the 2nd quarter. Kaizen Advisory LLC now owns 601 shares of the pharmaceutical company’s stock worth $102,000 after purchasing an additional 358 shares during the last quarter. Sun Life Financial INC lifted its holdings in Vertex Pharmaceuticals by 266.1% during the 2nd quarter. Sun Life Financial INC now owns 692 shares of the pharmaceutical company’s stock worth $118,000 after purchasing an additional 503 shares during the last quarter. Flagship Harbor Advisors LLC acquired a new stake in Vertex Pharmaceuticals during the 2nd quarter worth approximately $125,000. Finally, Migdal Insurance & Financial Holdings Ltd. lifted its holdings in Vertex Pharmaceuticals by 3,126.1% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 742 shares of the pharmaceutical company’s stock worth $126,000 after purchasing an additional 719 shares during the last quarter. 93.54% of the stock is owned by institutional investors.

Vertex Pharmaceuticals Company Profile

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.

Recommended Story: Penny Stocks, What You Need To Know

Get a free copy of the Zacks research report on Vertex Pharmaceuticals (VRTX)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Vertex Pharmaceuticals (NASDAQ:VRTX)

Receive News & Ratings for Vertex Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Vertex Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply