Vertex Pharmaceuticals (NASDAQ:VRTX) Releases Quarterly Earnings Results, Beats Expectations By $0.86 EPS

Vertex Pharmaceuticals (NASDAQ:VRTX) posted its earnings results on Thursday. The pharmaceutical company reported $2.61 EPS for the quarter, beating the consensus estimate of $1.75 by $0.86, MarketWatch Earnings reports. The firm had revenue of $1.52 billion for the quarter, compared to analyst estimates of $1.41 billion. Vertex Pharmaceuticals had a return on equity of 30.45% and a net margin of 38.51%. Vertex Pharmaceuticals updated its FY 2020
After-Hours guidance to EPS.

Shares of NASDAQ VRTX traded down $7.40 during midday trading on Friday, hitting $272.00. The company had a trading volume of 2,983,981 shares, compared to its average volume of 1,248,647. The firm has a market capitalization of $72.44 billion, a price-to-earnings ratio of 34.34, a price-to-earnings-growth ratio of 1.35 and a beta of 0.94. Vertex Pharmaceuticals has a twelve month low of $165.23 and a twelve month high of $306.08. The business has a 50-day simple moving average of $287.06 and a two-hundred day simple moving average of $257.51. The company has a quick ratio of 3.42, a current ratio of 3.54 and a debt-to-equity ratio of 0.08.

In related news, CFO Charles F. Wagner, Jr. sold 700 shares of Vertex Pharmaceuticals stock in a transaction that occurred on Friday, July 10th. The stock was sold at an average price of $293.15, for a total transaction of $205,205.00. Following the completion of the transaction, the chief financial officer now directly owns 16,786 shares in the company, valued at approximately $4,920,815.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Paul M. Silva sold 809 shares of the stock in a transaction on Monday, May 4th. The shares were sold at an average price of $260.87, for a total value of $211,043.83. Following the sale, the senior vice president now owns 15,741 shares in the company, valued at approximately $4,106,354.67. The disclosure for this sale can be found here. Insiders have sold 298,911 shares of company stock worth $82,787,831 over the last 90 days. 0.70% of the stock is currently owned by company insiders.

A number of research analysts have recently commented on VRTX shares. Stifel Nicolaus increased their price objective on Vertex Pharmaceuticals from $275.00 to $285.00 and gave the company a “buy” rating in a report on Thursday, April 30th. Oppenheimer boosted their price objective on shares of Vertex Pharmaceuticals from $265.00 to $305.00 and gave the stock an “outperform” rating in a research report on Thursday, April 30th. Cantor Fitzgerald increased their target price on shares of Vertex Pharmaceuticals from $293.00 to $305.00 and gave the company an “overweight” rating in a research report on Friday. Goldman Sachs Group lifted their price target on shares of Vertex Pharmaceuticals from $290.00 to $330.00 and gave the stock a “conviction-buy” rating in a research note on Thursday, July 2nd. Finally, Morgan Stanley downgraded shares of Vertex Pharmaceuticals from an “overweight” rating to an “equal weight” rating and upped their price objective for the company from $277.00 to $300.00 in a research note on Wednesday, July 8th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, nine have issued a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $295.81.

About Vertex Pharmaceuticals

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.

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Earnings History for Vertex Pharmaceuticals (NASDAQ:VRTX)

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