Vertex Pharmaceuticals (NASDAQ:VRTX) Announces Quarterly Earnings Results, Beats Estimates By $0.35 EPS

Vertex Pharmaceuticals (NASDAQ:VRTXGet Free Report) announced its quarterly earnings data on Monday. The pharmaceutical company reported $4.20 EPS for the quarter, beating analysts’ consensus estimates of $3.85 by $0.35, RTT News reports. Vertex Pharmaceuticals had a net margin of 36.68% and a return on equity of 22.65%. The company had revenue of $2.52 billion during the quarter, compared to the consensus estimate of $2.50 billion. During the same quarter last year, the firm posted $3.33 EPS. Vertex Pharmaceuticals updated its FY 2024 guidance to EPS.

Vertex Pharmaceuticals Trading Down 3.0 %

VRTX opened at $416.13 on Wednesday. Vertex Pharmaceuticals has a fifty-two week low of $283.60 and a fifty-two week high of $448.40. The company has a debt-to-equity ratio of 0.02, a current ratio of 4.08 and a quick ratio of 3.89. The firm has a market capitalization of $107.23 billion, a price-to-earnings ratio of 29.96, a PEG ratio of 2.40 and a beta of 0.36. The company’s 50 day moving average price is $407.08 and its two-hundred day moving average price is $373.59.

Insiders Place Their Bets

In other news, Chairman Jeffrey M. Leiden sold 6,648 shares of the company’s stock in a transaction on Monday, January 8th. The shares were sold at an average price of $419.07, for a total value of $2,785,977.36. Following the sale, the chairman now directly owns 2,423 shares of the company’s stock, valued at approximately $1,015,406.61. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.30% of the company’s stock.

Institutional Investors Weigh In On Vertex Pharmaceuticals

A number of institutional investors have recently modified their holdings of VRTX. Compass Wealth Management LLC acquired a new position in shares of Vertex Pharmaceuticals during the 4th quarter valued at $29,000. Cornerstone Planning Group LLC acquired a new position in shares of Vertex Pharmaceuticals during the 2nd quarter valued at $33,000. PCA Investment Advisory Services Inc. acquired a new position in shares of Vertex Pharmaceuticals during the 2nd quarter valued at $39,000. Atlas Capital Advisors LLC acquired a new position in shares of Vertex Pharmaceuticals during the 2nd quarter valued at $46,000. Finally, Coppell Advisory Solutions Corp. acquired a new position in shares of Vertex Pharmaceuticals during the 4th quarter valued at $46,000. 90.77% of the stock is owned by institutional investors.

Analysts Set New Price Targets

VRTX has been the subject of a number of research reports. Robert W. Baird cut shares of Vertex Pharmaceuticals from a “neutral” rating to an “underperform” rating and set a $325.00 target price for the company. in a research note on Wednesday, January 31st. Evercore ISI cut shares of Vertex Pharmaceuticals from an “outperform” rating to an “inline” rating and lifted their price objective for the stock from $436.00 to $438.00 in a research note on Tuesday. Maxim Group cut shares of Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Wednesday, January 31st. Canaccord Genuity Group restated a “sell” rating and issued a $379.00 target price (up from $332.00) on shares of Vertex Pharmaceuticals in a research report on Wednesday, January 24th. Finally, William Blair restated an “outperform” rating on shares of Vertex Pharmaceuticals in a research report on Tuesday. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Vertex Pharmaceuticals presently has a consensus rating of “Hold” and a consensus target price of $403.79.

View Our Latest Stock Report on Vertex Pharmaceuticals

Vertex Pharmaceuticals Company Profile

(Get Free Report)

Vertex Pharmaceuticals Incorporated, a biotechnology company, engages in developing and commercializing therapies for treating cystic fibrosis (CF). It markets TRIKAFTA/KAFTRIO and SYMDEKO/SYMKEVI for people with CF with at least one F508del mutation for 6 years of age or older; ORKAMBI for CF homozygous F508del mutation for CF patients 2 year or older; and KALYDECO for the treatment of patients with 4 months or older who have CF with a mutation that is responsive to ivacaftor, and R117H mutation or one of certain gating mutations.

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Earnings History for Vertex Pharmaceuticals (NASDAQ:VRTX)

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