$883.94 Million in Sales Expected for Vertex Pharmaceuticals Incorporated (VRTX) This Quarter

Analysts expect Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) to report $883.94 million in sales for the current quarter, according to Zacks Investment Research. Eight analysts have made estimates for Vertex Pharmaceuticals’ earnings, with the lowest sales estimate coming in at $864.31 million and the highest estimate coming in at $915.00 million. Vertex Pharmaceuticals reported sales of $752.16 million during the same quarter last year, which suggests a positive year-over-year growth rate of 17.5%. The company is scheduled to announce its next quarterly earnings report on Wednesday, July 24th.

On average, analysts expect that Vertex Pharmaceuticals will report full year sales of $3.56 billion for the current fiscal year, with estimates ranging from $3.52 billion to $3.67 billion. For the next fiscal year, analysts anticipate that the company will report sales of $4.36 billion, with estimates ranging from $4.14 billion to $4.54 billion. Zacks’ sales calculations are a mean average based on a survey of research analysts that follow Vertex Pharmaceuticals.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its quarterly earnings data on Tuesday, April 30th. The pharmaceutical company reported $1.14 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.49. The business had revenue of $857.00 million during the quarter, compared to analysts’ expectations of $853.00 million. Vertex Pharmaceuticals had a return on equity of 22.63% and a net margin of 66.01%. The business’s revenue was up 34.3% on a year-over-year basis. During the same quarter last year, the business posted $0.76 EPS.

VRTX has been the subject of a number of research analyst reports. Zacks Investment Research upgraded Vertex Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Saturday, January 26th. Maxim Group cut Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Wednesday, February 6th. They noted that the move was a valuation call. BMO Capital Markets raised their target price on Vertex Pharmaceuticals to $234.00 and gave the company an “outperform” rating in a research note on Wednesday, February 6th. BidaskClub cut Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Thursday, February 7th. Finally, Cowen restated a “buy” rating and issued a $220.00 target price on shares of Vertex Pharmaceuticals in a research note on Wednesday, March 6th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have given a buy rating to the company’s stock. Vertex Pharmaceuticals has a consensus rating of “Buy” and a consensus price target of $203.62.

Shares of VRTX traded up $3.39 on Thursday, reaching $169.12. The stock had a trading volume of 669,821 shares, compared to its average volume of 1,384,889. The stock has a market cap of $43.22 billion, a PE ratio of 59.76, a PEG ratio of 2.45 and a beta of 1.56. The company has a quick ratio of 3.66, a current ratio of 3.78 and a debt-to-equity ratio of 0.13. Vertex Pharmaceuticals has a 12-month low of $144.07 and a 12-month high of $195.81.

In other Vertex Pharmaceuticals news, CEO Jeffrey M. Leiden sold 10,480 shares of Vertex Pharmaceuticals stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $175.08, for a total transaction of $1,834,838.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Paul M. Silva sold 161 shares of Vertex Pharmaceuticals stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $165.41, for a total value of $26,631.01. Following the transaction, the senior vice president now owns 17,759 shares of the company’s stock, valued at approximately $2,937,516.19. The disclosure for this sale can be found here. Insiders have sold 51,247 shares of company stock valued at $8,998,147 in the last quarter. 0.70% of the stock is owned by company insiders.

A number of large investors have recently made changes to their positions in the business. Resources Investment Advisors Inc. bought a new stake in shares of Vertex Pharmaceuticals in the 4th quarter worth $27,000. Oregon Public Employees Retirement Fund increased its holdings in shares of Vertex Pharmaceuticals by 16,530.8% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 4,610,881 shares of the pharmaceutical company’s stock worth $28,000 after purchasing an additional 4,583,156 shares in the last quarter. We Are One Seven LLC bought a new stake in shares of Vertex Pharmaceuticals in the 4th quarter worth $32,000. Berman Capital Advisors LLC bought a new stake in shares of Vertex Pharmaceuticals in the 4th quarter worth $35,000. Finally, FTB Advisors Inc. increased its holdings in shares of Vertex Pharmaceuticals by 1,618.2% in the 1st quarter. FTB Advisors Inc. now owns 189 shares of the pharmaceutical company’s stock worth $35,000 after purchasing an additional 178 shares in the last quarter. Institutional investors and hedge funds own 94.92% 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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