Zacks Research Issues Pessimistic Estimate for VRTX Earnings

Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) - Analysts at Zacks Research decreased their FY2024 earnings estimates for shares of Vertex Pharmaceuticals in a report issued on Wednesday, October 23rd. Zacks Research analyst R. Department now expects that the pharmaceutical company will earn ($2.07) per share for the year, down from their previous estimate of ($2.06). The consensus estimate for Vertex Pharmaceuticals' current full-year earnings is ($2.11) per share. Zacks Research also issued estimates for Vertex Pharmaceuticals' Q1 2025 earnings at $3.85 EPS, Q2 2026 earnings at $4.23 EPS and FY2026 earnings at $17.37 EPS.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last issued its quarterly earnings results on Thursday, August 1st. The pharmaceutical company reported ($12.83) earnings per share for the quarter, missing analysts' consensus estimates of ($12.54) by ($0.29). Vertex Pharmaceuticals had a negative return on equity of 2.45% and a negative net margin of 4.74%. The business had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.66 billion. During the same quarter in the prior year, the company earned $3.53 EPS. The firm's revenue for the quarter was up 6.1% on a year-over-year basis.

A number of other research analysts have also recently weighed in on VRTX. TD Cowen upped their target price on Vertex Pharmaceuticals from $450.00 to $500.00 and gave the company a "buy" rating in a research note on Tuesday, July 23rd. UBS Group increased their price objective on Vertex Pharmaceuticals from $477.00 to $562.00 and gave the company a "buy" rating in a research note on Thursday, October 17th. Morgan Stanley lifted their price objective on Vertex Pharmaceuticals from $462.00 to $474.00 and gave the stock an "equal weight" rating in a research report on Tuesday, October 1st. Redburn Atlantic initiated coverage on shares of Vertex Pharmaceuticals in a report on Thursday, June 27th. They issued a "buy" rating and a $545.00 target price on the stock. Finally, Guggenheim raised their price target on shares of Vertex Pharmaceuticals from $450.00 to $558.00 and gave the stock a "buy" rating in a research note on Friday, August 2nd. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $492.92.

Vertex Pharmaceuticals Stock Performance

Shares of VRTX stock traded up $5.79 during trading hours on Friday, reaching $477.70. 1,015,635 shares of the company's stock were exchanged, compared to its average volume of 1,171,162. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.52 and a quick ratio of 2.26. Vertex Pharmaceuticals has a 1 year low of $341.90 and a 1 year high of $510.64. The company has a market cap of $123.29 billion, a P/E ratio of -235.32 and a beta of 0.40. The company's 50 day moving average is $475.60 and its two-hundred day moving average is $461.36.

Hedge Funds Weigh In On Vertex Pharmaceuticals

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Northwest Investment Counselors LLC acquired a new stake in shares of Vertex Pharmaceuticals during the third quarter worth $25,000. Annapolis Financial Services LLC bought a new position in Vertex Pharmaceuticals during the first quarter worth about $27,000. Highline Wealth Partners LLC acquired a new stake in Vertex Pharmaceuticals in the 3rd quarter worth about $27,000. GHP Investment Advisors Inc. bought a new stake in Vertex Pharmaceuticals in the 2nd quarter valued at about $29,000. Finally, Stephens Consulting LLC bought a new stake in Vertex Pharmaceuticals in the 2nd quarter valued at about $31,000. 90.96% of the stock is owned by institutional investors.

Insider Activity at Vertex Pharmaceuticals

In related news, Director Bruce I. Sachs sold 5,295 shares of the stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $508.00, for a total transaction of $2,689,860.00. Following the completion of the transaction, the director now owns 40,000 shares in the company, valued at approximately $20,320,000. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Vertex Pharmaceuticals news, Director Bruce I. Sachs sold 5,295 shares of the firm's stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $508.00, for a total value of $2,689,860.00. Following the completion of the transaction, the director now directly owns 40,000 shares in the company, valued at $20,320,000. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CMO Carmen Bozic sold 2,280 shares of the business's stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $476.75, for a total value of $1,086,990.00. Following the transaction, the chief marketing officer now directly owns 23,259 shares in the company, valued at $11,088,728.25. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 12,005 shares of company stock valued at $5,988,066. 0.20% of the stock is owned by corporate insiders.

About Vertex Pharmaceuticals

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.