Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) to Post FY2024 Earnings of $15.32 Per Share, William Blair Forecasts

Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) – Analysts at William Blair boosted their FY2024 earnings per share estimates for Vertex Pharmaceuticals in a research note issued to investors on Wednesday, April 17th. William Blair analyst M. Minter now forecasts that the pharmaceutical company will post earnings per share of $15.32 for the year, up from their prior estimate of $15.28. William Blair has a “Outperform” rating on the stock. The consensus estimate for Vertex Pharmaceuticals’ current full-year earnings is $14.95 per share.

Several other research analysts have also recently issued reports on VRTX. JPMorgan Chase & Co. raised their price objective on Vertex Pharmaceuticals from $390.00 to $438.00 and gave the stock an “overweight” rating in a research note on Thursday, February 1st. Cantor Fitzgerald restated an “overweight” rating and issued a $440.00 price objective on shares of Vertex Pharmaceuticals in a research note on Tuesday, February 20th. Robert W. Baird cut Vertex Pharmaceuticals from a “neutral” rating to an “underperform” rating and set a $325.00 price objective for the company. in a research note on Wednesday, January 31st. Maxim Group cut Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Wednesday, January 31st. Finally, Canaccord Genuity Group reiterated a “sell” rating and set a $371.00 price target on shares of Vertex Pharmaceuticals in a research report on Friday, April 12th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, Vertex Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus price target of $429.45.

Vertex Pharmaceuticals Trading Up 0.2 %

Vertex Pharmaceuticals stock opened at $394.28 on Friday. The stock has a 50-day moving average of $413.60 and a two-hundred day moving average of $397.42. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.78 and a current ratio of 3.99. Vertex Pharmaceuticals has a one year low of $316.43 and a one year high of $448.40. The stock has a market cap of $101.91 billion, a PE ratio of 28.39, a price-to-earnings-growth ratio of 1.85 and a beta of 0.35.

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

Insider Activity

In related news, COO Stuart A. Arbuckle sold 4,295 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $420.24, for a total transaction of $1,804,930.80. Following the completion of the sale, the chief operating officer now directly owns 75,718 shares in the company, valued at $31,819,732.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Ourania Tatsis sold 354 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $425.70, for a total transaction of $150,697.80. Following the completion of the sale, the executive vice president now directly owns 55,804 shares in the company, valued at $23,755,762.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Stuart A. Arbuckle sold 4,295 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $420.24, for a total value of $1,804,930.80. Following the sale, the chief operating officer now owns 75,718 shares of the company’s stock, valued at $31,819,732.32. The disclosure for this sale can be found here. Insiders sold 12,381 shares of company stock worth $5,203,249 over the last three months. 0.20% of the stock is currently owned by corporate insiders.

Institutional Trading of Vertex Pharmaceuticals

Large investors have recently made changes to their positions in the company. OFI Invest Asset Management purchased a new stake in Vertex Pharmaceuticals in the 3rd quarter valued at $25,000. University of Texas Texas AM Investment Managment Co. purchased a new stake in Vertex Pharmaceuticals in the 4th quarter valued at $25,000. Arlington Trust Co LLC grew its holdings in Vertex Pharmaceuticals by 97.1% in the 4th quarter. Arlington Trust Co LLC now owns 67 shares of the pharmaceutical company’s stock valued at $27,000 after buying an additional 33 shares in the last quarter. Annapolis Financial Services LLC purchased a new stake in Vertex Pharmaceuticals in the 1st quarter valued at $27,000. Finally, ICA Group Wealth Management LLC purchased a new stake in Vertex Pharmaceuticals in the 4th quarter valued at $28,000. 90.96% of the stock is currently owned by hedge funds and other institutional investors.

Vertex Pharmaceuticals Company Profile

Vertex Pharmaceuticals Incorporated, a biotechnology company, engages in developing and commercializing therapies for treating cystic fibrosis (CF). It markets TRIKAFTA/KAFTRIO for people with CF with at least one F508del mutation for 2 years of age or older; SYMDEKO/SYMKEVI for people with CF for 6 years of age or older; ORKAMBI for CF patients 1 year or older; and KALYDECO for the treatment of patients with 1 year or older who have CF with ivacaftor.