Vertex Pharmaceuticals (VRTX) Scheduled to Post Quarterly Earnings on Thursday

Vertex Pharmaceuticals (NASDAQ:VRTX) will be releasing its earnings data after the market closes on Thursday, August 1st. Analysts expect Vertex Pharmaceuticals to post earnings of ($11.23) per share for the quarter. Vertex Pharmaceuticals has set its FY 2024 guidance at EPS.Persons interested in registering for the company’s earnings conference call can do so using this link.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its quarterly earnings results on Monday, May 6th. The pharmaceutical company reported $4.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.66 by $1.10. The business had revenue of $2.69 billion for the quarter, compared to the consensus estimate of $2.58 billion. Vertex Pharmaceuticals had a net margin of 39.46% and a return on equity of 23.08%. The business’s revenue was up 13.3% on a year-over-year basis. During the same period in the previous year, the firm earned $2.67 EPS. On average, analysts expect Vertex Pharmaceuticals to post $15 EPS for the current fiscal year and $16 EPS for the next fiscal year.

Vertex Pharmaceuticals Price Performance

Vertex Pharmaceuticals stock opened at $502.60 on Wednesday. The company’s 50 day simple moving average is $476.44 and its 200-day simple moving average is $438.46. The company has a market capitalization of $129.70 billion, a price-to-earnings ratio of 32.62, a price-to-earnings-growth ratio of 2.61 and a beta of 0.39. Vertex Pharmaceuticals has a 1 year low of $340.20 and a 1 year high of $506.15. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.29 and a current ratio of 3.50.

Insider Activity

In related news, EVP Ourania Tatsis sold 2,350 shares of the company’s stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $439.11, for a total value of $1,031,908.50. Following the completion of the sale, the executive vice president now owns 53,523 shares in the company, valued at approximately $23,502,484.53. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, EVP Ourania Tatsis sold 2,350 shares of the company’s stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $439.11, for a total value of $1,031,908.50. Following the completion of the sale, the executive vice president now owns 53,523 shares in the company, valued at approximately $23,502,484.53. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Bruce I. Sachs sold 7,073 shares of the company’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $448.00, for a total transaction of $3,168,704.00. Following the completion of the sale, the director now owns 40,000 shares of the company’s stock, valued at approximately $17,920,000. The disclosure for this sale can be found here. In the last quarter, insiders sold 48,128 shares of company stock worth $22,839,005. Corporate insiders own 0.20% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. HC Wainwright lifted their price objective on shares of Vertex Pharmaceuticals from $462.00 to $500.00 and gave the company a “buy” rating in a report on Friday, July 19th. StockNews.com cut shares of Vertex Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Friday, July 26th. Wells Fargo & Company lifted their price objective on shares of Vertex Pharmaceuticals from $540.00 to $555.00 and gave the company an “overweight” rating in a report on Monday, June 24th. Evercore ISI upgraded shares of Vertex Pharmaceuticals from an “in-line” rating to an “outperform” rating and set a $438.00 price objective for the company in a report on Thursday, April 11th. Finally, Oppenheimer restated an “outperform” rating and issued a $500.00 price objective on shares of Vertex Pharmaceuticals in a report on Monday, April 15th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and eighteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $460.30.

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.