Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) – Leerink Swann lifted their Q3 2018 earnings per share estimates for Vertex Pharmaceuticals in a note issued to investors on Monday, October 15th. Leerink Swann analyst G. Porges now anticipates that the pharmaceutical company will post earnings per share of $0.64 for the quarter, up from their prior estimate of $0.59. Leerink Swann also issued estimates for Vertex Pharmaceuticals’ Q4 2018 earnings at $0.59 EPS and FY2018 earnings at $2.31 EPS.
Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its earnings results on Wednesday, July 25th. The pharmaceutical company reported $0.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.54. The firm had revenue of $752.20 million during the quarter, compared to analysts’ expectations of $680.86 million. Vertex Pharmaceuticals had a return on equity of 19.86% and a net margin of 15.84%. The company’s revenue was up 38.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.39 earnings per share.
A number of other equities research analysts have also recently issued reports on the company. Zacks Investment Research raised Vertex Pharmaceuticals from a “hold” rating to a “strong-buy” rating and set a $213.00 target price for the company in a research report on Saturday. Raymond James initiated coverage on Vertex Pharmaceuticals in a research report on Tuesday, October 2nd. They issued a “buy” rating for the company. Cantor Fitzgerald initiated coverage on Vertex Pharmaceuticals in a research report on Monday, October 1st. They issued an “overweight” rating and a $217.00 price objective for the company. BidaskClub raised Vertex Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Thursday, September 27th. Finally, Argus increased their price objective on Vertex Pharmaceuticals to $200.00 and gave the company an “average” rating in a research report on Tuesday, August 28th. They noted that the move was a valuation call. Four equities research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $197.68.
Shares of Vertex Pharmaceuticals stock opened at $185.45 on Tuesday. The company has a market cap of $49.26 billion, a price-to-earnings ratio of 225.60, a P/E/G ratio of 1.96 and a beta of 1.48. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.67 and a quick ratio of 3.55. Vertex Pharmaceuticals has a 12-month low of $136.50 and a 12-month high of $194.92.
In related news, EVP Michael Parini sold 2,125 shares of the company’s stock in a transaction on Friday, October 12th. The stock was sold at an average price of $177.20, for a total value of $376,550.00. Following the completion of the transaction, the executive vice president now directly owns 41,734 shares in the company, valued at $7,395,264.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Paul M. Silva sold 2,098 shares of the company’s stock in a transaction on Friday, August 3rd. The shares were sold at an average price of $174.44, for a total value of $365,975.12. Following the completion of the transaction, the senior vice president now owns 17,376 shares of the company’s stock, valued at $3,031,069.44. The disclosure for this sale can be found here. Insiders sold 33,325 shares of company stock valued at $6,135,340 over the last 90 days. 0.75% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently modified their holdings of VRTX. Mount Yale Investment Advisors LLC acquired a new position in shares of Vertex Pharmaceuticals in the first quarter valued at $101,000. Kaizen Advisory LLC raised its stake in shares of Vertex Pharmaceuticals by 147.3% in the second quarter. Kaizen Advisory LLC now owns 601 shares of the pharmaceutical company’s stock valued at $102,000 after purchasing an additional 358 shares in the last quarter. Sun Life Financial INC raised its stake in shares of Vertex Pharmaceuticals by 266.1% in 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. Flagship Harbor Advisors LLC acquired a new position in shares of Vertex Pharmaceuticals in the second quarter valued at $125,000. Finally, Migdal Insurance & Financial Holdings Ltd. raised its stake in shares of Vertex Pharmaceuticals by 3,126.1% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 742 shares of the pharmaceutical company’s stock valued at $126,000 after purchasing an additional 719 shares in the last quarter. Institutional investors and hedge funds own 93.47% of the company’s stock.
About Vertex Pharmaceuticals
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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