Vertex Pharmaceuticals Incorporated to Post Q1 2018 Earnings of $0.30 Per Share, Jefferies Group Forecasts (VRTX)
Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) – Investment analysts at Jefferies Group issued their Q1 2018 earnings estimates for Vertex Pharmaceuticals in a note issued to investors on Thursday. Jefferies Group analyst M. Yee forecasts that the pharmaceutical company will post earnings of $0.30 per share for the quarter. Jefferies Group has a “Buy” rating on the stock. Jefferies Group also issued estimates for Vertex Pharmaceuticals’ Q2 2018 earnings at $0.36 EPS, Q3 2018 earnings at $0.47 EPS and Q4 2018 earnings at $0.57 EPS.
Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings data on Wednesday, October 25th. The pharmaceutical company reported $0.53 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.49. The business had revenue of $578.20 million for the quarter, compared to analyst estimates of $522.07 million. Vertex Pharmaceuticals had a return on equity of 9.23% and a net margin of 8.53%. The company’s revenue was up 39.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.16 earnings per share.
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Other analysts have also recently issued research reports about the company. Stifel Nicolaus lifted their target price on Vertex Pharmaceuticals from $130.00 to $154.00 and gave the stock a “buy” rating in a research report on Tuesday, July 18th. Robert W. Baird restated an “outperform” rating and issued a $171.00 price target (up previously from $136.00) on shares of Vertex Pharmaceuticals in a research report on Friday, July 21st. Needham & Company LLC restated a “buy” rating and issued a $195.00 price target on shares of Vertex Pharmaceuticals in a research report on Friday. J P Morgan Chase & Co set a $175.00 price target on Vertex Pharmaceuticals and gave the company a “buy” rating in a research report on Wednesday, July 19th. Finally, Cowen and Company restated a “market perform” rating and issued a $105.00 price target on shares of Vertex Pharmaceuticals in a research report on Thursday, July 6th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-three have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $169.74.
Shares of Vertex Pharmaceuticals (VRTX) traded down 3.901% on Monday, hitting $143.697. The stock had a trading volume of 970,045 shares. The company has a market cap of $36.23 billion, a price-to-earnings ratio of 138.037 and a beta of 1.73. The stock has a 50 day moving average price of $152.52 and a 200-day moving average price of $139.47. Vertex Pharmaceuticals has a 12-month low of $71.46 and a 12-month high of $167.86.
A number of hedge funds have recently bought and sold shares of the stock. Canada Pension Plan Investment Board lifted its stake in Vertex Pharmaceuticals by 76.5% in the 3rd quarter. Canada Pension Plan Investment Board now owns 189,655 shares of the pharmaceutical company’s stock valued at $28,835,000 after buying an additional 82,200 shares in the last quarter. New York State Teachers Retirement System lifted its stake in Vertex Pharmaceuticals by 1.3% in the 3rd quarter. New York State Teachers Retirement System now owns 393,896 shares of the pharmaceutical company’s stock valued at $59,888,000 after buying an additional 4,989 shares in the last quarter. Westpac Banking Corp lifted its stake in Vertex Pharmaceuticals by 125.2% in the 3rd quarter. Westpac Banking Corp now owns 76,052 shares of the pharmaceutical company’s stock valued at $11,563,000 after buying an additional 42,281 shares in the last quarter. Baillie Gifford & Co. lifted its stake in Vertex Pharmaceuticals by 1.3% in the 3rd quarter. Baillie Gifford & Co. now owns 491,831 shares of the pharmaceutical company’s stock valued at $74,778,000 after buying an additional 6,234 shares in the last quarter. Finally, Parametrica Management Ltd purchased a new stake in Vertex Pharmaceuticals in the 3rd quarter valued at approximately $297,000. 93.36% of the stock is currently owned by hedge funds and other institutional investors.
In related news, CMO Jeffrey Chodakewitz sold 1,718 shares of the company’s stock in a transaction that occurred on Monday, October 16th. The stock was sold at an average price of $155.19, for a total value of $266,616.42. Following the sale, the chief marketing officer now owns 116,142 shares of the company’s stock, valued at approximately $18,024,076.98. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, COO Ian F. Smith sold 2,125 shares of the company’s stock in a transaction that occurred on Monday, October 16th. The shares were sold at an average price of $155.61, for a total value of $330,671.25. Following the completion of the sale, the chief operating officer now directly owns 118,013 shares in the company, valued at approximately $18,364,002.93. The disclosure for this sale can be found here. In the last ninety days, insiders sold 29,700 shares of company stock worth $4,586,808. 1.80% of the stock is owned by corporate 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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