FY2027 Earnings Estimate for VRTX Issued By Erste Group Bank

Key Points

• Erste Group Bank trimmed its FY2027 EPS estimate for Vertex Pharmaceuticals to $19.46 from $19.56, still above the current consensus estimate of $16.96 per share.
• Vertex recently beat quarterly expectations, reporting adjusted EPS of $4.47 versus $4.24 expected, while revenue of $2.99 billion matched estimates and rose 8.3% year over year.
• Wall Street sentiment remains constructive, with several firms raising price targets and the stock holding a consensus rating of “Moderate Buy” and an average target price of $555.17.

Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) - Equities research analysts at Erste Group Bank lowered their FY2027 earnings per share estimates for shares of Vertex Pharmaceuticals in a report released on Tuesday, May 5th. Erste Group Bank analyst H. Engel now forecasts that the pharmaceutical company will earn $19.46 per share for the year, down from their previous estimate of $19.56. The consensus estimate for Vertex Pharmaceuticals' current full-year earnings is $16.96 per share.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last posted its earnings results on Monday, May 4th. The pharmaceutical company reported $4.47 earnings per share for the quarter, beating the consensus estimate of $4.24 by $0.23. Vertex Pharmaceuticals had a net margin of 35.51% and a return on equity of 23.86%. The firm had revenue of $2.99 billion during the quarter, compared to analyst estimates of $2.99 billion. During the same period in the previous year, the firm earned $4.06 EPS. The business's quarterly revenue was up 8.3% on a year-over-year basis.

A number of other research analysts have also recently weighed in on VRTX. Scotiabank lifted their price objective on shares of Vertex Pharmaceuticals from $495.00 to $558.00 and gave the company an "outperform" rating in a report on Friday, February 13th. Truist Financial upgraded Vertex Pharmaceuticals to a "strong-buy" rating in a research report on Monday, April 27th. HC Wainwright lifted their price target on Vertex Pharmaceuticals from $591.00 to $641.00 and gave the company a "buy" rating in a research note on Tuesday, March 10th. Royal Bank Of Canada upped their price target on Vertex Pharmaceuticals from $541.00 to $543.00 and gave the stock an "outperform" rating in a report on Tuesday, May 5th. Finally, Barclays increased their price target on Vertex Pharmaceuticals from $607.00 to $615.00 and gave the stock an "overweight" rating in a research report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $555.17.

Vertex Pharmaceuticals Stock Performance

Shares of NASDAQ VRTX opened at $429.82 on Monday. The company has a market capitalization of $109.09 billion, a PE ratio of 25.49, a price-to-earnings-growth ratio of 1.84 and a beta of 0.30. The company's fifty day moving average price is $450.45 and its 200 day moving average price is $449.78. Vertex Pharmaceuticals has a 1 year low of $362.50 and a 1 year high of $507.92.

Insider Buying and Selling at Vertex Pharmaceuticals

In related news, EVP Amit Sachdev sold 58,613 shares of the company's stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $468.83, for a total transaction of $27,479,532.79. Following the completion of the transaction, the executive vice president owned 58,934 shares in the company, valued at $27,630,027.22. This represents a 49.86% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Duncan Mckechnie sold 4,910 shares of the firm's stock in a transaction dated Wednesday, February 25th. The shares were sold at an average price of $487.65, for a total transaction of $2,394,361.50. Following the completion of the transaction, the executive vice president directly owned 17,559 shares in the company, valued at $8,562,646.35. This represents a 21.85% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 81,853 shares of company stock valued at $38,479,135. Insiders own 0.20% of the company's stock.

Hedge Funds Weigh In On Vertex Pharmaceuticals

Hedge funds have recently made changes to their positions in the company. Motiv8 Investments LLC purchased a new stake in shares of Vertex Pharmaceuticals during the fourth quarter worth approximately $26,000. Swiss RE Ltd. purchased a new position in Vertex Pharmaceuticals in the 4th quarter valued at $28,000. Eagle Bay Advisors LLC purchased a new position in Vertex Pharmaceuticals in the 4th quarter valued at $29,000. IMG Wealth Management Inc. boosted its stake in Vertex Pharmaceuticals by 277.8% during the 4th quarter. IMG Wealth Management Inc. now owns 68 shares of the pharmaceutical company's stock worth $31,000 after purchasing an additional 50 shares during the last quarter. Finally, Colonial Trust Co SC grew its holdings in shares of Vertex Pharmaceuticals by 118.8% during the third quarter. Colonial Trust Co SC now owns 70 shares of the pharmaceutical company's stock worth $27,000 after buying an additional 38 shares in the last quarter. Institutional investors and hedge funds own 90.96% of the company's stock.

About Vertex Pharmaceuticals

Vertex Pharmaceuticals Inc is a Boston-based biotechnology company focused on the discovery, development and commercialization of therapies for serious diseases. Founded in 1989, Vertex built its reputation on research-driven drug development and is best known for its work in cystic fibrosis (CF), where its portfolio of small-molecule CFTR modulators transformed standards of care for many people with the disease. The company operates research and development, manufacturing and commercial organizations and serves patients and healthcare systems in multiple international markets.

Vertex's marketed products center on CFTR modulators that target the underlying cause of cystic fibrosis rather than just treating symptoms.

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