Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) – Analysts at Oppenheimer issued their Q2 2019 earnings estimates for Vertex Pharmaceuticals in a research report issued to clients and investors on Wednesday, May 1st, Zacks Investment Research reports. Oppenheimer analyst H. Singh expects that the pharmaceutical company will earn $0.74 per share for the quarter. Oppenheimer has a “Outperform” rating and a $230.00 price objective on the stock. Oppenheimer also issued estimates for Vertex Pharmaceuticals’ Q3 2019 earnings at $0.73 EPS, Q4 2019 earnings at $0.65 EPS and FY2019 earnings at $2.94 EPS.
Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings results on Tuesday, April 30th. The pharmaceutical company reported $1.14 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.49. The company had revenue of $857.00 million for the quarter, compared to analysts’ expectations of $853.00 million. Vertex Pharmaceuticals had a net margin of 66.01% and a return on equity of 22.63%. The business’s quarterly revenue was up 34.3% compared to the same quarter last year. During the same period last year, the firm posted $0.76 earnings per share.
A number of other brokerages have also recently weighed in on VRTX. Maxim Group cut shares of Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Wednesday, February 6th. They noted that the move was a valuation call. Svb Leerink reissued a “market perform” rating on shares of Vertex Pharmaceuticals in a research report on Tuesday, March 19th. BidaskClub cut shares of Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Friday, March 22nd. William Blair raised shares of Vertex Pharmaceuticals from a “market perform” rating to an “outperform” rating and set a $183.85 price objective on the stock in a research report on Tuesday, March 26th. Finally, Cowen reaffirmed a “buy” rating and issued a $220.00 price objective on shares of Vertex Pharmaceuticals in a research report on Tuesday, April 30th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $203.35.
Shares of NASDAQ VRTX opened at $164.61 on Monday. The firm has a market cap of $42.16 billion, a PE ratio of 58.17, a PEG ratio of 2.47 and a beta of 1.56. Vertex Pharmaceuticals has a twelve month low of $144.07 and a twelve month high of $195.81. The company has a current ratio of 3.78, a quick ratio of 3.66 and a debt-to-equity ratio of 0.13.
In other Vertex Pharmaceuticals news, EVP Michael Parini sold 1,622 shares of Vertex Pharmaceuticals stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $172.06, for a total value of $279,081.32. Following the sale, the executive vice president now directly owns 37,332 shares in the company, valued at approximately $6,423,343.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jeffrey M. Leiden sold 33,058 shares of Vertex Pharmaceuticals stock in a transaction on Monday, May 6th. The shares were sold at an average price of $175.01, for a total transaction of $5,785,480.58. Following the completion of the sale, the chief executive officer now owns 136,953 shares in the company, valued at $23,968,144.53. The disclosure for this sale can be found here. Insiders sold a total of 81,705 shares of company stock worth $14,703,196 over the last ninety days. 0.75% of the stock is currently owned by insiders.
Hedge funds have recently modified their holdings of the business. Resources Investment Advisors Inc. acquired a new position in shares of Vertex Pharmaceuticals during the 4th quarter worth about $27,000. Oregon Public Employees Retirement Fund increased its stake in shares of Vertex Pharmaceuticals by 16,530.8% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 4,610,881 shares of the pharmaceutical company’s stock worth $28,000 after purchasing an additional 4,583,156 shares during the last quarter. We Are One Seven LLC acquired a new position in shares of Vertex Pharmaceuticals during the 4th quarter worth about $32,000. Berman Capital Advisors LLC acquired a new position in shares of Vertex Pharmaceuticals during the 4th quarter worth about $35,000. Finally, FTB Advisors Inc. increased its stake in shares of Vertex Pharmaceuticals by 1,618.2% during the 1st quarter. FTB Advisors Inc. now owns 189 shares of the pharmaceutical company’s stock worth $35,000 after purchasing an additional 178 shares during the last quarter. Hedge funds and other institutional investors own 95.02% of the company’s stock.
Vertex Pharmaceuticals Company Profile
Vertex Pharmaceuticals Incorporated engages in developing and commercializing therapies for treating cystic fibrosis. The company markets SYMDEKO/SYMKEVI, ORKAMBI, and KALYDECO to treat patients with cystic fibrosis who have specific mutations in their cystic fibrosis transmembrane conductance regulator gene.