Research Analysts Set Expectations for Vertex Pharmaceuticals Incorporated’s FY2018 Earnings (VRTX)
Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) – Research analysts at Oppenheimer upped their FY2018 earnings per share estimates for Vertex Pharmaceuticals in a research note issued on Thursday. Oppenheimer analyst H. Singh now anticipates that the pharmaceutical company will earn $2.37 per share for the year, up from their prior estimate of $1.72. Oppenheimer currently has a “Outperform” rating and a $190.00 target price on the stock.
VRTX has been the topic of several other research reports. Zacks Investment Research downgraded Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Tuesday, October 24th. DA Davidson initiated coverage on Vertex Pharmaceuticals in a research note on Friday, September 29th. They issued a “buy” rating and a $200.00 price objective on the stock. Needham & Company LLC reaffirmed a “buy” rating and issued a $195.00 price objective on shares of Vertex Pharmaceuticals in a research note on Sunday, September 17th. BMO Capital Markets reaffirmed a “buy” rating on shares of Vertex Pharmaceuticals in a research note on Wednesday, September 27th. Finally, Deutsche Bank initiated coverage on Vertex Pharmaceuticals in a research note on Tuesday, December 12th. They issued a “buy” rating and a $175.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $175.89.
Vertex Pharmaceuticals (VRTX) traded up $1.20 during midday trading on Monday, hitting $156.89. The stock had a trading volume of 1,986,900 shares, compared to its average volume of 1,651,560. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.28 and a quick ratio of 3.14. Vertex Pharmaceuticals has a 1 year low of $77.09 and a 1 year high of $167.85. The company has a market capitalization of $39,260.00, a P/E ratio of 201.14, a P/E/G ratio of 1.84 and a beta of 1.58.
Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its earnings results on Wednesday, October 25th. The pharmaceutical company reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.49. The business had revenue of $578.20 million for the quarter, compared to analysts’ expectations of $522.07 million. Vertex Pharmaceuticals had a return on equity of 9.23% and a net margin of 8.53%. The business’s revenue for the quarter was up 39.7% on a year-over-year basis. During the same period last year, the firm posted $0.16 earnings per share.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. raised its position in shares of Vertex Pharmaceuticals by 0.8% in the 2nd quarter. BlackRock Inc. now owns 19,405,981 shares of the pharmaceutical company’s stock worth $2,500,849,000 after acquiring an additional 159,601 shares in the last quarter. Vanguard Group Inc. increased its position in Vertex Pharmaceuticals by 3.1% during the 2nd quarter. Vanguard Group Inc. now owns 16,979,872 shares of the pharmaceutical company’s stock valued at $2,188,196,000 after buying an additional 504,982 shares in the last quarter. Jennison Associates LLC increased its position in Vertex Pharmaceuticals by 19.0% during the 3rd quarter. Jennison Associates LLC now owns 6,017,766 shares of the pharmaceutical company’s stock valued at $914,941,000 after buying an additional 962,644 shares in the last quarter. TIAA CREF Investment Management LLC increased its position in Vertex Pharmaceuticals by 28.1% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 2,077,303 shares of the pharmaceutical company’s stock valued at $267,702,000 after buying an additional 456,290 shares in the last quarter. Finally, Orbimed Advisors LLC increased its position in Vertex Pharmaceuticals by 2.4% during the 3rd quarter. Orbimed Advisors LLC now owns 2,074,302 shares of the pharmaceutical company’s stock valued at $315,377,000 after buying an additional 47,800 shares in the last quarter. 93.09% of the stock is owned by hedge funds and other institutional investors.
In other news, SVP Paul M. Silva sold 1,289 shares of the business’s stock in a transaction on Wednesday, December 27th. The stock was sold at an average price of $152.31, for a total value of $196,327.59. Following the completion of the transaction, the senior vice president now directly owns 17,923 shares of the company’s stock, valued at approximately $2,729,852.13. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Thomas Graney sold 777 shares of the business’s stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $149.95, for a total value of $116,511.15. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 345,586 shares of company stock valued at $49,802,201. 1.80% of the stock is owned by company insiders.
About Vertex Pharmaceuticals
Vertex Pharmaceuticals Incorporated is engaged in discovering, developing, manufacturing and commercializing medicines for serious diseases. The Company is focused on developing and commercializing therapies for the treatment of cystic fibrosis (CF) and advancing its research and development programs in other indications.
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