Vertex Pharmaceuticals Inc. Expected to Earn Q3 2016 Earnings of ($0.09) Per Share (VRTX)
Vertex Pharmaceuticals Inc. (NASDAQ:VRTX) – Jefferies Group dropped their Q3 2016 earnings per share (EPS) estimates for shares of Vertex Pharmaceuticals in a research report issued to clients and investors on Wednesday. Jefferies Group analyst B. Abrahams now anticipates that the brokerage will post earnings of ($0.09) per share for the quarter, down from their previous forecast of ($0.01). Jefferies Group currently has a “Buy” rating and a $104.00 target price on the stock. Jefferies Group also issued estimates for Vertex Pharmaceuticals’ Q4 2016 earnings at $0.02 EPS, FY2016 earnings at ($0.22) EPS and FY2017 earnings at $1.14 EPS.
A number of other analysts have also recently commented on VRTX. Piper Jaffray Cos. reiterated a “buy” rating on shares of Vertex Pharmaceuticals in a research note on Saturday, June 18th. RBC Capital Markets reiterated a “buy” rating on shares of Vertex Pharmaceuticals in a research note on Saturday. Leerink Swann set a $112.00 target price on shares of Vertex Pharmaceuticals and gave the stock a “buy” rating in a research note on Saturday, September 17th. Cowen and Company reiterated a “hold” rating on shares of Vertex Pharmaceuticals in a research note on Thursday, July 28th. Finally, Credit Suisse Group AG set a $110.00 target price on shares of Vertex Pharmaceuticals and gave the stock a “buy” rating in a research note on Wednesday, September 28th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $117.60.
Vertex Pharmaceuticals (NASDAQ:VRTX) opened at 86.79 on Monday. The stock’s market cap is $21.50 billion. The firm has a 50 day moving average of $94.37 and a 200-day moving average of $89.82. Vertex Pharmaceuticals has a 52-week low of $75.90 and a 52-week high of $134.71.
Vertex Pharmaceuticals (NASDAQ:VRTX) last released its quarterly earnings data on Wednesday, July 27th. The pharmaceutical company reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.21 by $0.03. Vertex Pharmaceuticals had a negative net margin of 17.77% and a negative return on equity of 12.34%. The firm had revenue of $431.61 million for the quarter, compared to analysts’ expectations of $428.08 million. During the same quarter in the previous year, the company earned ($0.54) earnings per share. The company’s revenue for the quarter was up 159.9% compared to the same quarter last year.
In other Vertex Pharmaceuticals news, Director Joshua S. Boger sold 6,500 shares of Vertex Pharmaceuticals stock in a transaction on Wednesday, July 13th. The shares were sold at an average price of $88.81, for a total transaction of $577,265.00. Following the sale, the director now owns 274,725 shares of the company’s stock, valued at approximately $24,398,327.25. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Joshua S. Boger sold 5,140 shares of Vertex Pharmaceuticals stock in a transaction on Wednesday, July 6th. The stock was sold at an average price of $88.99, for a total transaction of $457,408.60. Following the sale, the director now directly owns 273,365 shares in the company, valued at approximately $24,326,751.35. The disclosure for this sale can be found here. 1.90% of the stock is currently owned by corporate insiders.
A number of large investors have recently made changes to their positions in the company. Commonwealth Equity Services Inc boosted its stake in shares of Vertex Pharmaceuticals by 23.7% in the first quarter. Commonwealth Equity Services Inc now owns 6,999 shares of the pharmaceutical company’s stock valued at $556,000 after buying an additional 1,342 shares during the period. Virginia Retirement System acquired a new stake in shares of Vertex Pharmaceuticals during the first quarter valued at about $317,000. Pacad Investment Ltd. acquired a new stake in shares of Vertex Pharmaceuticals during the first quarter valued at about $715,000. Ngam Advisors L.P. boosted its stake in shares of Vertex Pharmaceuticals by 28.5% in the first quarter. Ngam Advisors L.P. now owns 64,855 shares of the pharmaceutical company’s stock valued at $5,155,000 after buying an additional 14,372 shares during the period. Finally, Prudential Financial Inc. boosted its stake in shares of Vertex Pharmaceuticals by 59.9% in the first quarter. Prudential Financial Inc. now owns 496,217 shares of the pharmaceutical company’s stock valued at $39,445,000 after buying an additional 185,800 shares during the period. 96.19% of the stock is currently owned by institutional investors.
About Vertex Pharmaceuticals
Vertex Pharmaceuticals Incorporated is engaged in the business of discovering, developing, manufacturing and commercializing medicines for serious diseases. The Company operates in pharmaceuticals segment. Its business 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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