Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) released its quarterly earnings results on Tuesday. The pharmaceutical company reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.03, Bloomberg Earnings reports. Vertex Pharmaceuticals had a return on equity of 3.00% and a net margin of 8.64%. The firm had revenue of $544.10 million for the quarter, compared to analyst estimates of $489.95 million. During the same quarter in the previous year, the company posted $0.24 EPS. The business’s revenue was up 26.1% on a year-over-year basis.
Shares of Vertex Pharmaceuticals (VRTX) traded up 0.90% during mid-day trading on Wednesday, reaching $163.42. The company’s stock had a trading volume of 2,087,173 shares. Vertex Pharmaceuticals has a 12 month low of $71.46 and a 12 month high of $167.00. The company has a 50-day moving average of $134.32 and a 200-day moving average of $109.69. The company has a market cap of $40.70 billion, a P/E ratio of 227.92 and a beta of 1.74.
In other news, EVP Michael Parini sold 10,829 shares of the business’s stock in a transaction on Wednesday, July 19th. The shares were sold at an average price of $161.00, for a total transaction of $1,743,469.00. Following the completion of the sale, the executive vice president now owns 37,309 shares of the company’s stock, valued at approximately $6,006,749. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Paul M. Silva sold 43,443 shares of the business’s stock in a transaction on Friday, July 21st. The shares were sold at an average price of $161.07, for a total transaction of $6,997,364.01. Following the sale, the senior vice president now directly owns 26,516 shares of the company’s stock, valued at approximately $4,270,932.12. The disclosure for this sale can be found here. In the last ninety days, insiders sold 884,674 shares of company stock valued at $127,947,355. 1.80% of the stock is currently owned by insiders.
A number of equities research analysts have commented on VRTX shares. Vetr lowered Vertex Pharmaceuticals from a “sell” rating to a “strong sell” rating and set a $102.58 price target on the stock. in a research report on Thursday, April 20th. Stifel Nicolaus upped their price target on Vertex Pharmaceuticals from $130.00 to $154.00 and gave the company a “buy” rating in a research report on Tuesday, July 18th. Zacks Investment Research lowered Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Monday, April 10th. Jefferies Group LLC reiterated a “buy” rating and issued a $126.00 price target on shares of Vertex Pharmaceuticals in a research report on Tuesday, May 2nd. Finally, Needham & Company LLC upgraded Vertex Pharmaceuticals from a “hold” rating to a “buy” rating and set a $155.00 price target on the stock in a research report on Friday, June 23rd. Four equities research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $158.16.
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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