Vertex Pharmaceuticals (VRTX) to Release Quarterly Earnings on Monday

Vertex Pharmaceuticals (NASDAQ:VRTX) will be announcing its earnings results after the market closes on Monday, November 4th. Analysts expect the company to announce earnings of $3.60 per share for the quarter. Vertex Pharmaceuticals has set its FY 2024 guidance at EPS.Investors that wish to listen to the company’s conference call can do so using this link.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its quarterly earnings results on Thursday, August 1st. The pharmaceutical company reported ($12.83) EPS for the quarter, missing analysts’ consensus estimates of ($12.54) by ($0.29). The company had revenue of $2.65 billion during the quarter, compared to analysts’ expectations of $2.66 billion. Vertex Pharmaceuticals had a negative return on equity of 2.45% and a negative net margin of 4.74%. Vertex Pharmaceuticals’s quarterly revenue was up 6.1% on a year-over-year basis. During the same period in the prior year, the firm earned $3.53 EPS. On average, analysts expect Vertex Pharmaceuticals to post $-2 EPS for the current fiscal year and $16 EPS for the next fiscal year.

Vertex Pharmaceuticals Stock Performance

Vertex Pharmaceuticals stock opened at $477.70 on Monday. Vertex Pharmaceuticals has a fifty-two week low of $341.90 and a fifty-two week high of $510.64. The firm’s fifty day moving average price is $475.61 and its 200-day moving average price is $462.73. The stock has a market cap of $123.27 billion, a P/E ratio of 31.00 and a beta of 0.40. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.26 and a current ratio of 2.52.

Insider Activity at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, Director Bruce I. Sachs sold 5,295 shares of the firm’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $508.00, for a total value of $2,689,860.00. Following the completion of the sale, 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 sale was disclosed in a filing with the SEC, which is available at this link. In other news, CMO Carmen Bozic sold 2,280 shares of the company’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $476.75, for a total value of $1,086,990.00. Following the sale, the chief marketing officer now directly owns 23,259 shares of the company’s stock, valued at $11,088,728.25. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Bruce I. Sachs sold 5,295 shares of Vertex Pharmaceuticals stock in a transaction dated 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 transaction, the director now directly owns 40,000 shares of the company’s stock, valued at approximately $20,320,000. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 12,005 shares of company stock worth $5,988,066 over the last 90 days. 0.20% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Scotiabank assumed coverage on Vertex Pharmaceuticals in a research note on Wednesday, October 16th. They set a “sector perform” rating and a $480.00 price target for the company. Oppenheimer upped their target price on Vertex Pharmaceuticals from $500.00 to $550.00 and gave the stock an “outperform” rating in a research note on Monday, August 5th. Needham & Company LLC reissued a “hold” rating on shares of Vertex Pharmaceuticals in a research note on Friday, July 26th. Guggenheim upped their price objective on shares of Vertex Pharmaceuticals from $450.00 to $558.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Finally, Piper Sandler lifted their target price on shares of Vertex Pharmaceuticals from $500.00 to $535.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat.com, Vertex Pharmaceuticals has a consensus rating of “Hold” and an average price target of $492.92.

Vertex Pharmaceuticals Company Profile

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.