Vertex Pharmaceuticals (VRTX) Posts Earnings Results, Beats Expectations By $0.24 EPS

Vertex Pharmaceuticals (NASDAQ:VRTX) issued its quarterly earnings data on Tuesday. The pharmaceutical company reported $1.30 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.06 by $0.24, Bloomberg Earnings reports. Vertex Pharmaceuticals had a return on equity of 22.92% and a net margin of 22.87%. The company had revenue of $870.11 million for the quarter, compared to the consensus estimate of $818.29 million. During the same quarter last year, the business posted $0.61 earnings per share. The firm’s revenue was up 33.5% compared to the same quarter last year.

Shares of NASDAQ:VRTX traded down $0.96 on Tuesday, reaching $187.02. 1,642,912 shares of the company traded hands, compared to its average volume of 1,662,742. Vertex Pharmaceuticals has a 52 week low of $144.07 and a 52 week high of $195.81. The stock has a market capitalization of $48.04 billion, a P/E ratio of 233.78, a price-to-earnings-growth ratio of 1.43 and a beta of 1.65. The company has a current ratio of 3.71, a quick ratio of 3.59 and a debt-to-equity ratio of 0.01.

In related news, SVP Paul M. Silva sold 809 shares of the firm’s stock in a transaction dated Monday, December 3rd. The stock was sold at an average price of $186.52, for a total value of $150,894.68. Following the sale, the senior vice president now directly owns 16,896 shares of the company’s stock, valued at $3,151,441.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP David Altshuler sold 2,125 shares of the firm’s stock in a transaction dated Wednesday, November 7th. The stock was sold at an average price of $181.89, for a total value of $386,516.25. Following the completion of the sale, the executive vice president now directly owns 48,877 shares in the company, valued at $8,890,237.53. The disclosure for this sale can be found here. Insiders have sold 19,226 shares of company stock worth $3,538,618 over the last ninety days. Insiders own 0.75% of the company’s stock.

VRTX has been the topic of a number of research reports. Guggenheim initiated coverage on Vertex Pharmaceuticals in a research report on Monday, December 17th. They set a “neutral” rating on the stock. BidaskClub downgraded Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Friday, October 26th. Raymond James set a $201.00 price target on Vertex Pharmaceuticals and gave the company a “buy” rating in a research report on Thursday, October 25th. Piper Jaffray Companies lowered their price target on Vertex Pharmaceuticals to $217.00 and set an “overweight” rating on the stock in a research report on Friday, October 26th. Finally, JPMorgan Chase & Co. restated a “buy” rating on shares of Vertex Pharmaceuticals in a research report on Wednesday, October 24th. Five research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Vertex Pharmaceuticals has a consensus rating of “Buy” and an average price target of $201.43.

COPYRIGHT VIOLATION WARNING: This report was first reported by Chaffey Breeze and is the sole property of of Chaffey Breeze. If you are reading this report on another publication, it was illegally copied and reposted in violation of United States and international copyright laws. The original version of this report can be viewed at https://www.chaffeybreeze.com/2019/02/05/vertex-pharmaceuticals-vrtx-posts-earnings-results-beats-expectations-by-0-24-eps.html.

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.

Further Reading: NASDAQ

Earnings History for Vertex Pharmaceuticals (NASDAQ:VRTX)

Receive News & Ratings for Vertex Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Vertex Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply