Equities analysts forecast that Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) will announce earnings per share of $1.12 for the current fiscal quarter, Zacks reports. Eight analysts have provided estimates for Vertex Pharmaceuticals’ earnings. The highest EPS estimate is $1.28 and the lowest is $0.90. Vertex Pharmaceuticals posted earnings of $1.09 per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 2.8%. The business is expected to announce its next quarterly earnings report on Wednesday, October 23rd.
On average, analysts expect that Vertex Pharmaceuticals will report full year earnings of $4.58 per share for the current fiscal year, with EPS estimates ranging from $4.10 to $4.88. For the next fiscal year, analysts forecast that the firm 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 sell-side research firms that that provide coverage for Vertex Pharmaceuticals.
Vertex Pharmaceuticals (NASDAQ:VRTX) last released its earnings results on Wednesday, July 31st. The pharmaceutical company reported $0.99 EPS for the quarter, beating the consensus estimate of $0.75 by $0.24. The business had revenue of $941.29 million during the quarter, compared to analyst estimates of $884.66 million. Vertex Pharmaceuticals had a net margin of 64.13% and a return on equity of 21.73%. The business’s quarterly revenue was up 25.1% on a year-over-year basis. During the same period in the prior year, the business earned $0.94 earnings per share.
A number of equities research analysts have recently commented on the company. JPMorgan Chase & Co. reiterated a “buy” rating and set a $212.00 price objective on shares of Vertex Pharmaceuticals in a research report on Thursday, August 1st. Piper Jaffray Companies raised their target price on Vertex Pharmaceuticals from $217.00 to $230.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. BidaskClub downgraded Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Wednesday, August 28th. ValuEngine lowered Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Tuesday. Finally, Citigroup reissued a “buy” rating and issued a $205.00 price objective on shares of Vertex Pharmaceuticals in a research note on Thursday, May 23rd. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and fourteen have given a buy rating to the company’s stock. Vertex Pharmaceuticals currently has an average rating of “Buy” and a consensus price target of $210.68.
In other news, EVP David Altshuler sold 12,501 shares of the firm’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $186.38, for a total transaction of $2,329,936.38. Following the completion of the sale, the executive vice president now directly owns 35,803 shares of the company’s stock, valued at approximately $6,672,963.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jeffrey M. Leiden sold 56,030 shares of Vertex Pharmaceuticals stock in a transaction dated Tuesday, June 18th. The shares were sold at an average price of $175.39, for a total value of $9,827,101.70. Following the sale, the chief executive officer now owns 162,317 shares of the company’s stock, valued at $28,468,778.63. The disclosure for this sale can be found here. In the last three months, insiders have sold 93,641 shares of company stock valued at $16,705,255. Insiders own 0.70% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in VRTX. First Quadrant L P CA increased its holdings in shares of Vertex Pharmaceuticals by 196.1% during the 2nd quarter. First Quadrant L P CA now owns 18,664 shares of the pharmaceutical company’s stock valued at $3,423,000 after acquiring an additional 12,360 shares during the last quarter. FMR LLC grew its holdings in Vertex Pharmaceuticals by 19.3% during the first quarter. FMR LLC now owns 24,434,159 shares of the pharmaceutical company’s stock valued at $4,494,663,000 after purchasing an additional 3,951,050 shares during the last quarter. Daiwa Securities Group Inc. grew its holdings in Vertex Pharmaceuticals by 0.5% during the second quarter. Daiwa Securities Group Inc. now owns 11,806 shares of the pharmaceutical company’s stock valued at $2,165,000 after purchasing an additional 61 shares during the last quarter. Manning & Napier Group LLC grew its holdings in Vertex Pharmaceuticals by 27.5% during the second quarter. Manning & Napier Group LLC now owns 383,264 shares of the pharmaceutical company’s stock valued at $70,281,000 after purchasing an additional 82,670 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of Vertex Pharmaceuticals by 2.9% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,102,654 shares of the pharmaceutical company’s stock valued at $202,833,000 after purchasing an additional 30,705 shares during the period. Hedge funds and other institutional investors own 95.03% of the company’s stock.
Vertex Pharmaceuticals stock traded down $3.80 during mid-day trading on Thursday, hitting $171.01. The company’s stock had a trading volume of 1,656,899 shares, compared to its average volume of 1,295,599. The stock has a market capitalization of $44.93 billion, a P/E ratio of 60.43, a P/E/G ratio of 2.36 and a beta of 1.37. Vertex Pharmaceuticals has a twelve month low of $151.80 and a twelve month high of $195.81. The stock’s fifty day moving average price is $178.32 and its two-hundred day moving average price is $177.87. The company has a quick ratio of 3.63, a current ratio of 3.74 and a debt-to-equity ratio of 0.12.
Vertex Pharmaceuticals announced that its board has initiated a share repurchase plan 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 shares through open market purchases. Shares buyback plans are typically an indication that the company’s management believes its shares are undervalued.
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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