Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Forecasted to Post FY2024 Earnings of $15.32 Per Share

Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) - Equities research analysts at William Blair upped their FY2024 EPS estimates for shares of Vertex Pharmaceuticals in a research report issued on Wednesday, April 17th. William Blair analyst M. Minter now anticipates that the pharmaceutical company will post earnings of $15.32 per share for the year, up from their prior estimate of $15.28. William Blair has a "Outperform" rating on the stock. The consensus estimate for Vertex Pharmaceuticals' current full-year earnings is $14.95 per share.

Other equities analysts have also recently issued reports about the stock. Truist Financial lifted their price objective on shares of Vertex Pharmaceuticals from $456.00 to $508.00 and gave the stock a "buy" rating in a research note on Wednesday, January 31st. Sanford C. Bernstein cut shares of Vertex Pharmaceuticals from an "outperform" rating to a "market perform" rating in a research note on Friday, February 2nd. Oppenheimer reaffirmed an "outperform" rating and set a $500.00 price target on shares of Vertex Pharmaceuticals in a research note on Monday. UBS Group dropped their price target on shares of Vertex Pharmaceuticals from $498.00 to $466.00 and set a "buy" rating for the company in a research note on Wednesday. Finally, Wolfe Research initiated coverage on shares of Vertex Pharmaceuticals in a research note on Thursday, February 15th. They set an "outperform" rating and a $515.00 price target for the company. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $429.45.

Vertex Pharmaceuticals Price Performance

Shares of NASDAQ:VRTX traded up $0.80 on Friday, reaching $394.28. The company's stock had a trading volume of 1,342,016 shares, compared to its average volume of 1,246,165. Vertex Pharmaceuticals has a 52-week low of $316.43 and a 52-week high of $448.40. The company has a market cap of $101.91 billion, a P/E ratio of 28.39, a PEG ratio of 1.85 and a beta of 0.35. The company has a 50-day simple moving average of $413.60 and a 200 day simple moving average of $397.06. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.78 and a current ratio of 3.99.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last issued its quarterly earnings data on Monday, February 5th. The pharmaceutical company reported $4.20 EPS for the quarter, topping analysts' consensus estimates of $3.85 by $0.35. Vertex Pharmaceuticals had a net margin of 36.68% and a return on equity of 21.91%. The business had revenue of $2.52 billion during the quarter, compared to analysts' expectations of $2.50 billion. During the same period last year, the company posted $3.33 EPS.

Insider Activity at Vertex Pharmaceuticals

In related news, EVP Ourania Tatsis sold 354 shares of Vertex Pharmaceuticals stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $425.70, for a total transaction of $150,697.80. Following the completion of the sale, the executive vice president now owns 55,804 shares in the company, valued at approximately $23,755,762.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, EVP Amit Sachdev sold 3,222 shares of the business'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 sale, the executive vice president now owns 74,364 shares in the company, valued at approximately $31,250,727.36. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Ourania Tatsis sold 354 shares of the business's stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $425.70, for a total transaction of $150,697.80. Following the completion of the sale, the executive vice president now owns 55,804 shares of the company's stock, valued at approximately $23,755,762.80. The disclosure for this sale can be found here. Insiders sold 12,381 shares of company stock worth $5,203,249 in the last 90 days. 0.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Vertex Pharmaceuticals

Large investors have recently modified their holdings of the business. Capital World Investors raised its stake in shares of Vertex Pharmaceuticals by 21.3% during the 4th quarter. Capital World Investors now owns 21,805,770 shares of the pharmaceutical company's stock worth $8,872,586,000 after acquiring an additional 3,824,103 shares in the last quarter. Norges Bank bought a new position in shares of Vertex Pharmaceuticals during the 4th quarter worth approximately $1,237,877,000. Macquarie Group Ltd. raised its stake in shares of Vertex Pharmaceuticals by 232.3% during the 2nd quarter. Macquarie Group Ltd. now owns 933,179 shares of the pharmaceutical company's stock worth $262,961,000 after acquiring an additional 652,321 shares in the last quarter. Morgan Stanley raised its stake in shares of Vertex Pharmaceuticals by 33.1% during the 4th quarter. Morgan Stanley now owns 2,578,444 shares of the pharmaceutical company's stock worth $744,603,000 after acquiring an additional 640,899 shares in the last quarter. Finally, Public Employees Retirement Association of Colorado raised its stake in shares of Vertex Pharmaceuticals by 2,272.6% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 434,874 shares of the pharmaceutical company's stock worth $176,946,000 after acquiring an additional 416,545 shares in the last quarter. Institutional investors 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.