William Blair Equities Analysts Lift Earnings Estimates for Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

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Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) – William Blair raised their Q3 2018 earnings per share estimates for Vertex Pharmaceuticals in a note issued to investors on Monday, October 15th, Zacks Investment Research reports. William Blair analyst Y. Xu now anticipates that the pharmaceutical company will post earnings per share of $0.74 for the quarter, up from their prior estimate of $0.73. William Blair also issued estimates for Vertex Pharmaceuticals’ Q4 2018 earnings at $0.88 EPS, FY2018 earnings at $2.72 EPS and FY2019 earnings at $4.18 EPS.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its quarterly earnings results on Wednesday, October 24th. The pharmaceutical company reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates of $1.02 by $0.07. Vertex Pharmaceuticals had a net margin of 22.87% and a return on equity of 22.92%. The business had revenue of $784.54 million during the quarter, compared to the consensus estimate of $782.95 million. During the same quarter last year, the company earned $0.53 earnings per share.

VRTX has been the subject of a number of other research reports. Raymond James set a $201.00 price target on shares of Vertex Pharmaceuticals and gave the stock a “buy” rating in a research report on Thursday, October 25th. Morgan Stanley raised their price target on shares of Vertex Pharmaceuticals from $207.00 to $211.00 and gave the stock an “overweight” rating in a research report on Thursday, July 26th. Zacks Investment Research downgraded shares of Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Tuesday, September 11th. Jefferies Financial Group lifted their price objective on shares of Vertex Pharmaceuticals to $210.00 and gave the stock a “buy” rating in a report on Monday, July 16th. Finally, BidaskClub downgraded shares of Vertex Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Thursday, September 20th. Three analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $202.14.

Shares of VRTX stock traded up $0.29 during mid-day trading on Thursday, reaching $180.55. 1,845,491 shares of the company were exchanged, compared to its average volume of 1,699,561. Vertex Pharmaceuticals has a fifty-two week low of $136.50 and a fifty-two week high of $194.92. The company has a current ratio of 3.71, a quick ratio of 3.59 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $46.99 billion, a P/E ratio of 225.69, a PEG ratio of 1.82 and a beta of 1.61.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Bank of The West raised its stake in shares of Vertex Pharmaceuticals by 6.7% during the third quarter. Bank of The West now owns 9,488 shares of the pharmaceutical company’s stock valued at $1,829,000 after purchasing an additional 596 shares in the last quarter. HPM Partners LLC bought a new stake in shares of Vertex Pharmaceuticals during the second quarter valued at about $252,000. Bain Capital Public Equity Management LLC raised its stake in shares of Vertex Pharmaceuticals by 168.8% during the second quarter. Bain Capital Public Equity Management LLC now owns 241,408 shares of the pharmaceutical company’s stock valued at $41,030,000 after purchasing an additional 151,614 shares in the last quarter. Senator Investment Group LP raised its stake in shares of Vertex Pharmaceuticals by 80.2% during the second quarter. Senator Investment Group LP now owns 720,000 shares of the pharmaceutical company’s stock valued at $122,371,000 after purchasing an additional 320,483 shares in the last quarter. Finally, Sun Life Financial INC raised its stake in shares of Vertex Pharmaceuticals by 266.1% during the second quarter. Sun Life Financial INC now owns 692 shares of the pharmaceutical company’s stock valued at $118,000 after purchasing an additional 503 shares in the last quarter. Institutional investors and hedge funds own 93.51% of the company’s stock.

In other Vertex Pharmaceuticals news, EVP Stuart A. Arbuckle sold 2,155 shares of the firm’s stock in a transaction on Friday, November 2nd. The stock was sold at an average price of $175.36, for a total value of $377,900.80. Following the sale, the executive vice president now directly owns 48,907 shares in the company, valued at $8,576,331.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP David Altshuler sold 2,125 shares of Vertex Pharmaceuticals stock in a transaction dated Wednesday, November 7th. The shares were sold at an average price of $181.89, for a total transaction of $386,516.25. Following the sale, the executive vice president now owns 48,877 shares in the company, valued at $8,890,237.53. The disclosure for this sale can be found here. Insiders sold 29,550 shares of company stock worth $5,482,235 over the last quarter. 1.80% of the stock is currently owned by company insiders.

Vertex Pharmaceuticals Company Profile

Vertex Pharmaceuticals Incorporated, a biotechnology company, develops medicines for serious diseases. The company focuses on developing and commercializing therapies for the treatment of cystic fibrosis (CF) and advancing its research and development programs. It markets ORKAMBI (lumacaftor in combination with ivacaftor) to treat patients with CF 12 years of age and older who are homozygous for the F508del mutation in their cystic fibrosis transmembrane conductance regulator (CFTR) gene; KALYDECO (ivacaftor) for the treatment of patients with CF who have specific mutations in their CFTR gene, including the G551D mutation; and SYMDEKO (tezacaftor in combination with ivacaftor) to treat patients with CF 12 years of age and older who are F508del homozygous or who have 1 mutation that is responsive to tezacaftor/ivacaftor.

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