Vertex Pharmaceuticals (NASDAQ:VRTX) Announces Earnings Results

Key Points

• Vertex Pharmaceuticals reported a quarterly EPS of $4.00, missing analysts' expectations by $0.24 as per Zacks.
• The stock rose by 2.2% on the reporting day, reaching a price of $472.27, with over 2.28 million shares traded.
• Analysts have mixed ratings on the stock, with a consensus of Moderate Buy and an average target price of $509.89.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) announced its quarterly earnings results on Monday. The pharmaceutical company reported $4.52 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.24 by $0.28, Briefing.com reports. The company had revenue of $2.94 billion for the quarter, compared to the consensus estimate of $2.90 billion. Vertex Pharmaceuticals had a negative net margin of 8.91% and a negative return on equity of 3.36%. Vertex Pharmaceuticals's revenue for the quarter was up 11.3% compared to the same quarter last year. During the same period in the previous year, the firm posted ($12.83) EPS. Vertex Pharmaceuticals updated its FY 2025 guidance to EPS.

Vertex Pharmaceuticals Stock Performance

Shares of VRTX opened at $472.27 on Tuesday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.29 and a current ratio of 2.65. The stock has a market capitalization of $121.28 billion, a P/E ratio of -120.48 and a beta of 0.44. The company's fifty day moving average is $456.34 and its two-hundred day moving average is $467.46. Vertex Pharmaceuticals has a 1 year low of $377.85 and a 1 year high of $519.88.

Hedge Funds Weigh In On Vertex Pharmaceuticals

An institutional investor recently raised its position in Vertex Pharmaceuticals stock. Brighton Jones LLC lifted its stake in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 15.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 4,427 shares of the pharmaceutical company's stock after purchasing an additional 579 shares during the quarter. Brighton Jones LLC's holdings in Vertex Pharmaceuticals were worth $1,783,000 at the end of the most recent quarter. Institutional investors own 90.96% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. HC Wainwright reissued a "buy" rating and issued a $550.00 price objective on shares of Vertex Pharmaceuticals in a research note on Monday, June 23rd. JPMorgan Chase & Co. lifted their price objective on shares of Vertex Pharmaceuticals from $515.00 to $517.00 and gave the stock an "overweight" rating in a research note on Monday, July 14th. Leerink Partners reissued a "market perform" rating and issued a $503.00 price objective (down from $550.00) on shares of Vertex Pharmaceuticals in a research note on Tuesday, May 6th. Wolfe Research cut shares of Vertex Pharmaceuticals from an "outperform" rating to a "peer perform" rating in a research note on Wednesday, May 7th. Finally, William Blair reaffirmed an "outperform" rating on shares of Vertex Pharmaceuticals in a research note on Tuesday, May 6th. Fourteen equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $509.89.

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.