Brokerages forecast that Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) will report sales of $596.13 million for the current fiscal quarter, Zacks Investment Research reports. Ten analysts have provided estimates for Vertex Pharmaceuticals’ earnings. The lowest sales estimate is $565.68 million and the highest is $634.20 million. Vertex Pharmaceuticals posted sales of $458.71 million in the same quarter last year, which suggests a positive year over year growth rate of 30%. The firm is expected to report its next quarterly earnings results after the market closes on Wednesday, January 31st.

On average, analysts expect that Vertex Pharmaceuticals will report full year sales of $596.13 million for the current year, with estimates ranging from $2.13 billion to $2.47 billion. For the next fiscal year, analysts forecast that the business will report sales of $2.72 billion per share, with estimates ranging from $2.53 billion to $2.87 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that cover Vertex Pharmaceuticals.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings results on Wednesday, October 25th. The pharmaceutical company reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.49. Vertex Pharmaceuticals had a return on equity of 9.23% and a net margin of 8.53%. The firm had revenue of $578.20 million during the quarter, compared to the consensus estimate of $522.07 million. During the same period in the prior year, the firm earned $0.16 EPS. The firm’s quarterly revenue was up 39.7% compared to the same quarter last year.

VRTX has been the subject of several recent research reports. Maxim Group reiterated a “buy” rating and issued a $195.00 price target on shares of Vertex Pharmaceuticals in a report on Thursday, October 26th. Zacks Investment Research upgraded Vertex Pharmaceuticals from a “hold” rating to a “strong-buy” rating and set a $174.00 target price for the company in a research note on Tuesday, September 26th. Deutsche Bank started coverage on Vertex Pharmaceuticals in a research note on Tuesday, December 12th. They set a “buy” rating and a $175.00 target price for the company. Royal Bank of Canada restated a “buy” rating on shares of Vertex Pharmaceuticals in a research note on Friday, October 27th. Finally, DA Davidson started coverage on Vertex Pharmaceuticals in a research note on Friday, September 29th. They set a “buy” rating and a $200.00 target price for the company. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and twenty-five have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $175.89.

In related news, EVP Stuart A. Arbuckle sold 4,250 shares of Vertex Pharmaceuticals stock in a transaction dated Thursday, January 11th. The stock was sold at an average price of $159.00, for a total value of $675,750.00. Following the completion of the transaction, the executive vice president now directly owns 46,202 shares in the company, valued at $7,346,118. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Stuart A. Arbuckle sold 2,125 shares of Vertex Pharmaceuticals stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $158.28, for a total value of $336,345.00. Following the completion of the transaction, the executive vice president now owns 44,077 shares of the company’s stock, valued at $6,976,507.56. The disclosure for this sale can be found here. Insiders sold 458,028 shares of company stock valued at $67,470,259 over the last quarter. Insiders own 1.80% of the company’s stock.

A number of large investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in Vertex Pharmaceuticals by 3.1% in the second quarter. Vanguard Group Inc. now owns 16,979,872 shares of the pharmaceutical company’s stock worth $2,188,196,000 after acquiring an additional 504,982 shares during the last quarter. Jennison Associates LLC lifted its holdings in Vertex Pharmaceuticals by 19.0% in the third quarter. Jennison Associates LLC now owns 6,017,766 shares of the pharmaceutical company’s stock worth $914,941,000 after acquiring an additional 962,644 shares during the last quarter. Orbimed Advisors LLC lifted its holdings in Vertex Pharmaceuticals by 2.4% in the third quarter. Orbimed Advisors LLC now owns 2,074,302 shares of the pharmaceutical company’s stock worth $315,377,000 after acquiring an additional 47,800 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in Vertex Pharmaceuticals by 0.6% in the third quarter. Bank of New York Mellon Corp now owns 1,994,410 shares of the pharmaceutical company’s stock worth $303,230,000 after acquiring an additional 12,454 shares during the last quarter. Finally, Wells Fargo & Company MN lifted its holdings in Vertex Pharmaceuticals by 3.2% in the third quarter. Wells Fargo & Company MN now owns 1,977,269 shares of the pharmaceutical company’s stock worth $300,624,000 after acquiring an additional 61,042 shares during the last quarter. Institutional investors and hedge funds own 93.19% of the company’s stock.

Shares of Vertex Pharmaceuticals (NASDAQ VRTX) traded up $0.78 during midday trading on Thursday, reaching $157.97. The company had a trading volume of 2,030,460 shares, compared to its average volume of 1,500,000. Vertex Pharmaceuticals has a 52-week low of $80.06 and a 52-week high of $167.85. The firm has a market cap of $39,950.00, a P/E ratio of 202.53, a P/E/G ratio of 1.87 and a beta of 1.58. The company has a current ratio of 3.28, a quick ratio of 3.14 and a debt-to-equity ratio of 0.01.

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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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