What is Zacks Research's Estimate for VRTX FY2024 Earnings?

Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) - Stock analysts at Zacks Research cut their FY2024 earnings estimates for Vertex Pharmaceuticals in a research note issued to investors on Tuesday, November 19th. Zacks Research analyst R. Department now forecasts that the pharmaceutical company will post earnings of ($2.09) per share for the year, down from their prior forecast of ($2.07). The consensus estimate for Vertex Pharmaceuticals' current full-year earnings is ($1.82) per share. Zacks Research also issued estimates for Vertex Pharmaceuticals' Q4 2024 earnings at $3.33 EPS, Q1 2025 earnings at $3.82 EPS, Q2 2025 earnings at $3.93 EPS, Q3 2025 earnings at $3.99 EPS, Q4 2025 earnings at $3.94 EPS, FY2025 earnings at $15.69 EPS, Q1 2026 earnings at $3.96 EPS, Q2 2026 earnings at $4.09 EPS, Q3 2026 earnings at $4.28 EPS and FY2026 earnings at $16.84 EPS.

Several other equities analysts also recently commented on VRTX. Barclays downgraded shares of Vertex Pharmaceuticals from an "overweight" rating to an "equal weight" rating and upped their price target for the company from $472.00 to $509.00 in a research note on Monday, August 5th. Canaccord Genuity Group upped their price target on shares of Vertex Pharmaceuticals from $361.00 to $408.00 and gave the company a "sell" rating in a research note on Wednesday, November 6th. Raymond James restated a "market perform" rating on shares of Vertex Pharmaceuticals in a research note on Thursday, October 10th. UBS Group upped their price target on shares of Vertex Pharmaceuticals from $562.00 to $586.00 and gave the company a "buy" rating in a research note on Tuesday, November 5th. Finally, Cantor Fitzgerald restated an "overweight" rating and issued a $480.00 price target on shares of Vertex Pharmaceuticals in a research note on Tuesday, November 5th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Vertex Pharmaceuticals presently has a consensus rating of "Moderate Buy" and an average price target of $499.12.

Vertex Pharmaceuticals Trading Up 0.2 %

Shares of VRTX traded up $0.97 during trading hours on Friday, hitting $451.34. The company had a trading volume of 779,210 shares, compared to its average volume of 1,185,362. The business has a fifty day moving average of $474.80 and a 200-day moving average of $472.58. Vertex Pharmaceuticals has a 12 month low of $346.29 and a 12 month high of $519.88. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.47 and a quick ratio of 2.20.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last issued its quarterly earnings data on Monday, November 4th. The pharmaceutical company reported $4.38 earnings per share for the quarter, beating the consensus estimate of $3.61 by $0.77. The company had revenue of $2.77 billion for the quarter, compared to analyst estimates of $2.69 billion. Vertex Pharmaceuticals had a negative net margin of 4.52% and a negative return on equity of 1.91%. The company's revenue was up 11.6% on a year-over-year basis. During the same period in the prior year, the firm earned $3.67 earnings per share.

Insider Activity at Vertex Pharmaceuticals

In related news, Director Sangeeta N. Bhatia sold 646 shares of the firm's stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $500.00, for a total value of $323,000.00. Following the completion of the transaction, the director now owns 4,435 shares in the company, valued at $2,217,500. This trade represents a 12.71 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Jeffrey M. Leiden sold 3,784 shares of the firm's stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $499.00, for a total transaction of $1,888,216.00. Following the transaction, the chairman now owns 9,994 shares of the company's stock, valued at approximately $4,987,006. The trade was a 27.46 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 4,445 shares of company stock worth $2,218,394 in the last quarter. 0.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Anchor Investment Management LLC raised its holdings in Vertex Pharmaceuticals by 1,352.3% during the 3rd quarter. Anchor Investment Management LLC now owns 1,583 shares of the pharmaceutical company's stock worth $736,000 after purchasing an additional 1,474 shares during the last quarter. Advisory Resource Group grew its position in shares of Vertex Pharmaceuticals by 3.2% during the 3rd quarter. Advisory Resource Group now owns 1,970 shares of the pharmaceutical company's stock worth $916,000 after buying an additional 61 shares during the period. Hohimer Wealth Management LLC grew its position in shares of Vertex Pharmaceuticals by 3.1% during the 3rd quarter. Hohimer Wealth Management LLC now owns 2,320 shares of the pharmaceutical company's stock worth $1,079,000 after buying an additional 70 shares during the period. Soltis Investment Advisors LLC grew its position in shares of Vertex Pharmaceuticals by 11.9% during the 3rd quarter. Soltis Investment Advisors LLC now owns 778 shares of the pharmaceutical company's stock worth $362,000 after buying an additional 83 shares during the period. Finally, TD Private Client Wealth LLC grew its position in shares of Vertex Pharmaceuticals by 34.3% during the 3rd quarter. TD Private Client Wealth LLC now owns 13,687 shares of the pharmaceutical company's stock worth $6,366,000 after buying an additional 3,494 shares during the period. Institutional investors own 90.96% of the company's stock.

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.