Q3 2017 EPS Estimates for Vertex Pharmaceuticals Incorporated (VRTX) Decreased by Analyst

Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) – Research analysts at Leerink Swann cut their Q3 2017 earnings per share (EPS) estimates for Vertex Pharmaceuticals in a research note issued on Wednesday. Leerink Swann analyst G. Porges now expects that the pharmaceutical company will post earnings of $0.14 per share for the quarter, down from their previous forecast of $0.16. Leerink Swann has a “Outperform” rating on the stock. Leerink Swann also issued estimates for Vertex Pharmaceuticals’ Q4 2017 earnings at $0.26 EPS and FY2017 earnings at $0.65 EPS.

VRTX has been the topic of several other research reports. Raymond James Financial, Inc. upgraded Vertex Pharmaceuticals from a “market perform” rating to an “outperform” rating and set a $181.00 price target on the stock in a research report on Wednesday. J P Morgan Chase & Co set a $175.00 price target on Vertex Pharmaceuticals and gave the stock a “buy” rating in a research report on Wednesday. Zacks Investment Research upgraded Vertex Pharmaceuticals from a “strong sell” rating to a “buy” rating and set a $102.00 price target on the stock in a research report on Tuesday, March 28th. Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of Vertex Pharmaceuticals in a research report on Sunday, April 30th. Finally, Vetr upgraded Vertex Pharmaceuticals from a “strong sell” rating to a “sell” rating and set a $102.09 price target on the stock in a research report on Monday, May 15th. Four analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $154.12.

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Vertex Pharmaceuticals (NASDAQ:VRTX) opened at 163.17 on Friday. The firm has a market cap of $40.64 billion, a price-to-earnings ratio of 227.57 and a beta of 1.74. The firm’s 50-day moving average price is $130.33 and its 200 day moving average price is $107.19. Vertex Pharmaceuticals has a 52-week low of $71.46 and a 52-week high of $167.00.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings data on Thursday, April 27th. The pharmaceutical company reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.09. The business had revenue of $714.72 million during the quarter, compared to analysts’ expectations of $692.64 million. Vertex Pharmaceuticals had a return on equity of 3.00% and a net margin of 8.64%. The business’s quarterly revenue was up 79.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.09 EPS.

In related news, EVP David Altshuler sold 7,500 shares of Vertex Pharmaceuticals stock in a transaction dated Monday, June 5th. The stock was sold at an average price of $130.00, for a total transaction of $975,000.00. Following the sale, the executive vice president now directly owns 113,511 shares of the company’s stock, valued at $14,756,430. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Amit Sachdev sold 28,625 shares of Vertex Pharmaceuticals stock in a transaction dated Friday, July 21st. The stock was sold at an average price of $160.93, for a total value of $4,606,621.25. Following the sale, the executive vice president now directly owns 119,335 shares in the company, valued at $19,204,581.55. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 884,674 shares of company stock worth $127,947,355. 1.80% of the stock is currently owned by company insiders.

Large investors have recently added to or reduced their stakes in the stock. Oakbrook Investments LLC bought a new stake in Vertex Pharmaceuticals during the second quarter worth $2,542,000. Sheets Smith Wealth Management bought a new stake in Vertex Pharmaceuticals during the second quarter worth $319,000. State Treasurer State of Michigan increased its stake in Vertex Pharmaceuticals by 0.4% in the second quarter. State Treasurer State of Michigan now owns 81,868 shares of the pharmaceutical company’s stock worth $10,550,000 after buying an additional 300 shares during the last quarter. Atalanta Sosnoff Capital LLC bought a new stake in Vertex Pharmaceuticals during the second quarter worth $37,125,000. Finally, BTIM Corp. bought a new stake in Vertex Pharmaceuticals during the second quarter worth $297,000. 94.08% of the stock is currently owned by institutional investors.

Vertex Pharmaceuticals Company Profile

Vertex Pharmaceuticals Incorporated is engaged in discovering, developing, manufacturing and commercializing medicines for serious diseases. The Company is focused on developing and commercializing therapies for the treatment of cystic fibrosis (CF) and advancing its research and development programs in other indications.

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