Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) to Post FY2024 Earnings of $15.36 Per Share, Leerink Partnrs Forecasts

Vertex Pharmaceuticals Incorporated (NASDAQ:VRTXFree Report) – Stock analysts at Leerink Partnrs cut their FY2024 earnings estimates for shares of Vertex Pharmaceuticals in a research note issued to investors on Tuesday, February 6th. Leerink Partnrs analyst D. Risinger now expects that the pharmaceutical company will earn $15.36 per share for the year, down from their prior forecast of $15.38. The consensus estimate for Vertex Pharmaceuticals’ current full-year earnings is $14.46 per share. Leerink Partnrs also issued estimates for Vertex Pharmaceuticals’ FY2025 earnings at $16.99 EPS.

Other analysts have also recently issued reports about the company. JPMorgan Chase & Co. lifted their price objective on Vertex Pharmaceuticals from $390.00 to $438.00 and gave the company an “overweight” rating in a research report on Thursday, February 1st. Robert W. Baird cut Vertex Pharmaceuticals from a “neutral” rating to an “underperform” rating and set a $325.00 price objective on the stock. in a research report on Wednesday, January 31st. Royal Bank of Canada boosted their price objective on shares of Vertex Pharmaceuticals from $397.00 to $420.00 and gave the stock a “sector perform” rating in a research note on Tuesday. William Blair reissued an “outperform” rating on shares of Vertex Pharmaceuticals in a research note on Tuesday. Finally, Morgan Stanley boosted their price objective on shares of Vertex Pharmaceuticals from $359.00 to $364.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 8th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Vertex Pharmaceuticals has a consensus rating of “Hold” and an average price target of $412.62.

View Our Latest Report on Vertex Pharmaceuticals

Vertex Pharmaceuticals Price Performance

Shares of VRTX stock opened at $423.06 on Friday. The firm has a market cap of $109.01 billion, a P/E ratio of 30.46, a P/E/G ratio of 2.36 and a beta of 0.36. Vertex Pharmaceuticals has a fifty-two week low of $283.60 and a fifty-two week high of $448.40. The business’s 50 day moving average price is $409.81 and its 200-day moving average price is $374.25. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.89 and a current ratio of 3.99.

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

Institutional Investors Weigh In On Vertex Pharmaceuticals

Institutional investors and hedge funds have recently modified their holdings of the stock. OFI Invest Asset Management bought a new stake in shares of Vertex Pharmaceuticals during the third quarter valued at approximately $25,000. ST Germain D J Co. Inc. bought a new stake in Vertex Pharmaceuticals in the 2nd quarter worth approximately $26,000. Marquette Asset Management LLC bought a new stake in Vertex Pharmaceuticals in the 2nd quarter worth approximately $27,000. Arlington Trust Co LLC increased its stake in Vertex Pharmaceuticals by 97.1% in the 4th 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 last quarter. Finally, Compass Wealth Management LLC bought a new stake in Vertex Pharmaceuticals in the 4th quarter worth approximately $29,000. Institutional investors own 90.77% of the company’s stock.

Insiders Place Their Bets

In other Vertex Pharmaceuticals news, Chairman Jeffrey M. Leiden sold 6,648 shares of the firm’s stock in a transaction that occurred on Monday, January 8th. The shares were sold at an average price of $419.07, for a total transaction of $2,785,977.36. Following the sale, the chairman now owns 2,423 shares in the company, valued at approximately $1,015,406.61. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.40% of the stock is owned by company insiders.

About Vertex Pharmaceuticals

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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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