William Blair Analysts Raise Earnings Estimates for Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) – Equities researchers at William Blair boosted their Q1 2024 earnings per share (EPS) estimates for shares of Vertex Pharmaceuticals in a report released on Wednesday, April 17th. William Blair analyst M. Minter now anticipates that the pharmaceutical company will post earnings of $3.73 per share for the quarter, up from their previous forecast of $3.70. William Blair currently has a “Outperform” rating on the stock. The consensus estimate for Vertex Pharmaceuticals’ current full-year earnings is $15.08 per share. William Blair also issued estimates for Vertex Pharmaceuticals’ FY2025 earnings at $17.85 EPS.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its quarterly earnings data on Monday, February 5th. The pharmaceutical company reported $4.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.85 by $0.35. Vertex Pharmaceuticals had a return on equity of 21.91% and a net margin of 36.68%. The firm had revenue of $2.52 billion during the quarter, compared to the consensus estimate of $2.50 billion. During the same period in the previous year, the firm posted $3.33 EPS.

Several other research analysts also recently weighed in on the company. JPMorgan Chase & Co. boosted their price target on Vertex Pharmaceuticals from $390.00 to $438.00 and gave the company an “overweight” rating in a report on Thursday, February 1st. HC Wainwright boosted their price target on Vertex Pharmaceuticals from $457.00 to $462.00 and gave the company a “buy” rating in a report on Thursday, April 11th. Royal Bank of Canada boosted their price target on Vertex Pharmaceuticals from $397.00 to $420.00 and gave the company a “sector perform” rating in a report on Tuesday, February 6th. Canaccord Genuity Group downgraded Vertex Pharmaceuticals from a “hold” rating to a “sell” rating and boosted their price target for the company from $332.00 to $379.00 in a report on Wednesday, January 24th. Finally, UBS Group dropped their price objective on Vertex Pharmaceuticals from $498.00 to $466.00 and set a “buy” rating for the company in a report on Wednesday. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $429.45.

Vertex Pharmaceuticals Trading Up 0.1 %

Shares of VRTX opened at $393.48 on Thursday. The stock has a fifty day moving average of $414.17 and a two-hundred day moving average of $396.74. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.78 and a current ratio of 3.99. The company has a market capitalization of $101.70 billion, a PE ratio of 28.33, a price-to-earnings-growth ratio of 1.84 and a beta of 0.35. Vertex Pharmaceuticals has a fifty-two week low of $316.43 and a fifty-two week high of $448.40.

Insider Buying and Selling at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, EVP Amit Sachdev sold 3,222 shares of the company’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $420.24, for a total value of $1,354,013.28. Following the completion of the transaction, the executive vice president now directly owns 74,364 shares of the company’s stock, valued at approximately $31,250,727.36. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, EVP Ourania Tatsis sold 480 shares of the stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $420.79, for a total transaction of $201,979.20. Following the transaction, the executive vice president now owns 59,827 shares of the company’s stock, valued at $25,174,603.33. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Amit Sachdev sold 3,222 shares of the stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $420.24, for a total transaction of $1,354,013.28. Following the transaction, the executive vice president now directly owns 74,364 shares in the company, valued at approximately $31,250,727.36. The disclosure for this sale can be found here. Insiders sold a total of 12,381 shares of company stock valued at $5,203,249 in the last ninety days. Insiders own 0.20% of the company’s stock.

Institutional Investors Weigh In On Vertex Pharmaceuticals

Institutional investors and hedge funds have recently bought and sold shares of the business. OFI Invest Asset Management acquired a new stake in Vertex Pharmaceuticals during the third quarter worth about $25,000. University of Texas Texas AM Investment Managment Co. acquired a new stake in Vertex Pharmaceuticals during the fourth quarter worth about $25,000. Arlington Trust Co LLC raised its stake in Vertex Pharmaceuticals by 97.1% during the fourth quarter. Arlington Trust Co LLC now owns 67 shares of the pharmaceutical company’s stock worth $27,000 after acquiring an additional 33 shares during the period. Annapolis Financial Services LLC acquired a new stake in Vertex Pharmaceuticals during the first quarter worth about $27,000. Finally, ICA Group Wealth Management LLC acquired a new stake in Vertex Pharmaceuticals during the fourth quarter worth about $28,000. Institutional investors and hedge funds own 90.96% of the company’s stock.

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.