Vertex Pharmaceuticals (NASDAQ:VRTX) Issues Quarterly Earnings Results

Vertex Pharmaceuticals (NASDAQ:VRTX) posted its quarterly earnings results on Monday. The pharmaceutical company reported $4.76 EPS for the quarter, beating the consensus estimate of $3.66 by $1.10, Briefing.com reports. Vertex Pharmaceuticals had a net margin of 36.68% and a return on equity of 21.91%. The company had revenue of $2.69 billion for the quarter, compared to analyst estimates of $2.58 billion. During the same period in the prior year, the company earned $2.67 earnings per share. The firm’s revenue was up 13.3% on a year-over-year basis. Vertex Pharmaceuticals updated its FY 2024 guidance to EPS.

Vertex Pharmaceuticals Trading Down 0.1 %

Shares of NASDAQ:VRTX traded down $0.59 during trading on Thursday, reaching $418.23. The stock had a trading volume of 121,958 shares, compared to its average volume of 1,222,311. The business has a fifty day moving average price of $408.02 and a 200-day moving average price of $400.75. The company has a quick ratio of 3.78, a current ratio of 3.99 and a debt-to-equity ratio of 0.02. The stock has a market cap of $108.10 billion, a P/E ratio of 30.15, a PEG ratio of 1.89 and a beta of 0.39. Vertex Pharmaceuticals has a fifty-two week low of $320.01 and a fifty-two week high of $448.40.

Insider Activity

In related news, EVP Amit Sachdev sold 3,222 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $420.24, for a total transaction of $1,354,013.28. Following the completion of the transaction, the executive vice president now owns 74,364 shares of the company’s stock, valued at $31,250,727.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Amit Sachdev sold 3,222 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $420.24, for a total transaction of $1,354,013.28. Following the completion of the transaction, the executive vice president now owns 74,364 shares of the company’s stock, valued at $31,250,727.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Stuart A. Arbuckle sold 4,295 shares of the stock in a transaction on Monday, February 12th. The stock was sold at an average price of $420.24, for a total transaction of $1,804,930.80. Following the completion of the sale, the chief operating officer now directly owns 75,718 shares of the company’s stock, valued at approximately $31,819,732.32. 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 over the last 90 days. Insiders own 0.20% of the company’s stock.

Analyst Upgrades and Downgrades

VRTX has been the topic of several recent research reports. JPMorgan Chase & Co. upped their price target on shares of Vertex Pharmaceuticals from $390.00 to $438.00 and gave the company an “overweight” rating in a report on Thursday, February 1st. Wells Fargo & Company upped their price target on shares of Vertex Pharmaceuticals from $500.00 to $540.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 6th. Robert W. Baird downgraded shares of Vertex Pharmaceuticals from a “neutral” rating to an “underperform” rating and set a $325.00 price target for the company. in a research report on Wednesday, January 31st. Cantor Fitzgerald restated an “overweight” rating and set a $440.00 price target on shares of Vertex Pharmaceuticals in a research report on Tuesday, February 20th. Finally, Sanford C. Bernstein downgraded shares of Vertex Pharmaceuticals from an “outperform” rating to a “market perform” rating in a report on Friday, February 2nd. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Vertex Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus target price of $432.18.

About Vertex Pharmaceuticals

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.