Analysts Set Expectations for Vertex Pharmaceuticals Incorporated’s FY2024 Earnings (NASDAQ:VRTX)

Vertex Pharmaceuticals Incorporated (NASDAQ:VRTXFree Report) – Investment analysts at William Blair cut their FY2024 earnings per share (EPS) estimates for Vertex Pharmaceuticals in a research note issued on Tuesday, February 6th. William Blair analyst M. Minter now forecasts that the pharmaceutical company will post earnings per share of $15.28 for the year, down from their prior forecast of $16.35. William Blair has a “Outperform” rating on the stock. The consensus estimate for Vertex Pharmaceuticals’ current full-year earnings is $14.46 per share. William Blair also issued estimates for Vertex Pharmaceuticals’ FY2025 earnings at $18.06 EPS.

Vertex Pharmaceuticals (NASDAQ:VRTXGet Free Report) last released its earnings results on Monday, February 5th. The pharmaceutical company reported $4.20 earnings per share for the quarter, topping the consensus estimate of $3.85 by $0.35. The business had revenue of $2.52 billion during the quarter, compared to the consensus estimate of $2.50 billion. Vertex Pharmaceuticals had a return on equity of 21.91% and a net margin of 36.68%. During the same period last year, the company earned $3.33 earnings per share.

Other equities analysts also recently issued research reports about the company. Truist Financial increased their price target on Vertex Pharmaceuticals from $456.00 to $508.00 and gave the stock a “buy” rating in a research report on Wednesday, January 31st. Canaccord Genuity Group reaffirmed a “sell” rating and issued a $379.00 price target (up previously from $332.00) on shares of Vertex Pharmaceuticals in a research report on Wednesday, January 24th. StockNews.com raised shares of Vertex Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a report on Friday, January 12th. Robert W. Baird lowered Vertex Pharmaceuticals from a “neutral” rating to an “underperform” rating and set a $325.00 target price for the company. in a report on Wednesday, January 31st. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $440.00 price target on shares of Vertex Pharmaceuticals in a report on Tuesday. Three research analysts have rated the stock with a sell rating, seven have given a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $412.62.

Get Our Latest Stock Report on VRTX

Vertex Pharmaceuticals Stock Performance

Shares of NASDAQ:VRTX opened at $423.06 on Friday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.89 and a current ratio of 3.99. The firm has a market cap of $109.01 billion, a PE ratio of 30.46, a price-to-earnings-growth ratio of 2.36 and a beta of 0.36. The firm’s 50 day simple moving average is $409.81 and its 200-day simple moving average is $374.25. Vertex Pharmaceuticals has a one year low of $283.60 and a one year high of $448.40.

Institutional Investors Weigh In On Vertex Pharmaceuticals

Several hedge funds and other institutional investors have recently added to or reduced their stakes in VRTX. Arlington Trust Co LLC grew its holdings in Vertex Pharmaceuticals by 97.1% during the fourth quarter. Arlington Trust Co LLC now owns 67 shares of the pharmaceutical company’s stock worth $27,000 after acquiring an additional 33 shares during the period. Fortitude Family Office LLC purchased a new stake in Vertex Pharmaceuticals in the 4th quarter worth approximately $30,000. ST Germain D J Co. Inc. acquired a new stake in shares of Vertex Pharmaceuticals during the 2nd quarter worth approximately $26,000. Baystate Wealth Management LLC increased its holdings in shares of Vertex Pharmaceuticals by 49.0% during the 4th quarter. Baystate Wealth Management LLC now owns 76 shares of the pharmaceutical company’s stock valued at $31,000 after purchasing an additional 25 shares in the last quarter. Finally, OFI Invest Asset Management acquired a new position in shares of Vertex Pharmaceuticals in the 3rd quarter valued at $25,000. 90.77% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Chairman Jeffrey M. Leiden sold 6,648 shares of the stock in a transaction that occurred 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 transaction, the chairman now owns 2,423 shares in the company, valued at approximately $1,015,406.61. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.40% of the company’s stock.

About Vertex Pharmaceuticals

(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 and Estimates for Vertex Pharmaceuticals (NASDAQ:VRTX)

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