Zacks: Analysts Anticipate Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Will Announce Earnings of $1.12 Per Share

Analysts expect Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) to report earnings of $1.12 per share for the current quarter, according to Zacks. Eight analysts have issued estimates for Vertex Pharmaceuticals’ earnings, with estimates ranging from $0.90 to $1.28. Vertex Pharmaceuticals posted earnings per share of $1.09 in the same quarter last year, which suggests a positive year over year growth rate of 2.8%. The business is scheduled to issue its next earnings results on Wednesday, October 23rd.

According to Zacks, analysts expect that Vertex Pharmaceuticals will report full year earnings of $4.58 per share for the current year, with EPS estimates ranging from $4.10 to $4.88. For the next year, analysts expect that the business will post earnings of $6.03 per share, with EPS estimates ranging from $5.36 to $6.51. Zacks Investment Research’s EPS averages are a mean average based on a survey of research firms that that provide coverage for Vertex Pharmaceuticals.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings results on Wednesday, July 31st. The pharmaceutical company reported $0.99 earnings per share for the quarter, topping the consensus estimate of $0.75 by $0.24. Vertex Pharmaceuticals had a net margin of 64.13% and a return on equity of 21.73%. The firm had revenue of $941.29 million during the quarter, compared to analysts’ expectations of $884.66 million. During the same quarter in the prior year, the company earned $0.94 EPS. The company’s revenue was up 25.1% compared to the same quarter last year.

VRTX has been the subject of several research reports. Citigroup reaffirmed a “buy” rating and issued a $205.00 price target on shares of Vertex Pharmaceuticals in a research report on Thursday, May 23rd. Piper Jaffray Companies upped their price target on shares of Vertex Pharmaceuticals from $217.00 to $230.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. Needham & Company LLC cut shares of Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. They noted that the move was a valuation call. Cowen set a $220.00 price target on shares of Vertex Pharmaceuticals and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Finally, BidaskClub raised shares of Vertex Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Tuesday, August 6th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and fifteen have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $206.95.

Shares of VRTX traded up $3.82 during mid-day trading on Tuesday, hitting $184.94. The company’s stock had a trading volume of 1,304,200 shares, compared to its average volume of 1,462,886. The company’s 50-day moving average is $177.09 and its 200-day moving average is $178.45. Vertex Pharmaceuticals has a 52-week low of $151.80 and a 52-week high of $195.81. The firm has a market capitalization of $46.55 billion, a price-to-earnings ratio of 65.35, a PEG ratio of 2.36 and a beta of 1.40. The company has a current ratio of 3.74, a quick ratio of 3.63 and a debt-to-equity ratio of 0.12.

Vertex Pharmaceuticals declared that its board has approved a stock repurchase program on Wednesday, July 31st that permits the company to buyback $500.00 million in shares. This buyback authorization permits the pharmaceutical company to reacquire up to 1.2% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

In other Vertex Pharmaceuticals news, CEO Jeffrey M. Leiden sold 113,432 shares of the company’s stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $175.10, for a total transaction of $19,861,943.20. Following the transaction, the chief executive officer now owns 219,719 shares in the company, valued at approximately $38,472,796.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Stuart A. Arbuckle sold 2,125 shares of the company’s stock in a transaction that occurred on Wednesday, June 19th. The shares were sold at an average price of $181.89, for a total transaction of $386,516.25. Following the transaction, the executive vice president now owns 35,365 shares in the company, valued at approximately $6,432,539.85. The disclosure for this sale can be found here. In the last quarter, insiders have sold 195,292 shares of company stock valued at $34,357,560. 0.70% of the stock is currently owned by company insiders.

Institutional investors have recently modified their holdings of the business. Geode Capital Management LLC increased its stake in Vertex Pharmaceuticals by 7.3% in the fourth quarter. Geode Capital Management LLC now owns 3,059,306 shares of the pharmaceutical company’s stock valued at $505,995,000 after acquiring an additional 207,934 shares during the last quarter. Mercer Global Advisors Inc. ADV bought a new position in Vertex Pharmaceuticals in the first quarter valued at $216,000. First Manhattan Co. increased its stake in Vertex Pharmaceuticals by 12.1% in the first quarter. First Manhattan Co. now owns 925 shares of the pharmaceutical company’s stock valued at $170,000 after acquiring an additional 100 shares during the last quarter. Louisiana State Employees Retirement System increased its stake in Vertex Pharmaceuticals by 0.7% in the first quarter. Louisiana State Employees Retirement System now owns 13,500 shares of the pharmaceutical company’s stock valued at $2,483,000 after acquiring an additional 100 shares during the last quarter. Finally, Ropes Wealth Advisors LLC increased its stake in Vertex Pharmaceuticals by 358.3% in the first quarter. Ropes Wealth Advisors LLC now owns 550 shares of the pharmaceutical company’s stock valued at $101,000 after acquiring an additional 430 shares during the last quarter. Institutional investors and hedge funds own 94.70% 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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