Equities research analysts predict that Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) will post $945.82 million in sales for the current quarter, according to Zacks Investment Research. Eight analysts have provided estimates for Vertex Pharmaceuticals’ earnings, with the lowest sales estimate coming in at $911.06 million and the highest estimate coming in at $970.00 million. Vertex Pharmaceuticals posted sales of $784.54 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 20.6%. The company is scheduled to announce its next quarterly earnings results on Wednesday, October 23rd.

On average, analysts expect that Vertex Pharmaceuticals will report full year sales of $3.71 billion for the current year, with estimates ranging from $3.65 billion to $3.77 billion. For the next financial year, analysts anticipate that the company will report sales of $4.51 billion, with estimates ranging from $4.17 billion to $5.02 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow Vertex Pharmaceuticals.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its earnings results on Wednesday, July 31st. The pharmaceutical company reported $0.99 earnings per share for the quarter, topping analysts’ consensus estimates of $0.75 by $0.24. Vertex Pharmaceuticals had a return on equity of 21.73% and a net margin of 64.13%. The firm had revenue of $941.29 million for the quarter, compared to the consensus estimate of $884.66 million. During the same quarter in the previous year, the business earned $0.94 EPS. The company’s revenue was up 25.1% compared to the same quarter last year.

A number of equities research analysts have issued reports on VRTX shares. Stifel Nicolaus boosted their target price on shares of Vertex Pharmaceuticals from $205.00 to $211.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Maxim Group reissued a “hold” rating on shares of Vertex Pharmaceuticals in a report on Friday, August 2nd. Royal Bank of Canada set a $213.00 target price on shares of Vertex Pharmaceuticals and gave the company a “buy” rating in a report on Monday, August 12th. Piper Jaffray Companies boosted their target price on shares of Vertex Pharmaceuticals from $217.00 to $230.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. Finally, Citigroup reissued a “buy” rating and set a $205.00 target price on shares of Vertex Pharmaceuticals in a report on Thursday, May 23rd. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. Vertex Pharmaceuticals currently has an average rating of “Buy” and a consensus price target of $206.95.

In other Vertex Pharmaceuticals news, CEO Jeffrey M. Leiden sold 113,432 shares of the company’s stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $175.10, for a total transaction of $19,861,943.20. Following the completion of the sale, the chief executive officer now directly owns 219,719 shares in the company, valued at $38,472,796.90. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Sangeeta N. Bhatia sold 720 shares of the company’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $167.08, for a total transaction of $120,297.60. Following the sale, the director now owns 7,260 shares of the company’s stock, valued at $1,213,000.80. The disclosure for this sale can be found here. Insiders sold 195,292 shares of company stock valued at $34,357,560 over the last quarter. 0.70% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of VRTX. International Biotechnology Trust PLC boosted its holdings in shares of Vertex Pharmaceuticals by 66.3% during the second quarter. International Biotechnology Trust PLC now owns 85,022 shares of the pharmaceutical company’s stock worth $15,585,000 after purchasing an additional 33,900 shares during the period. Orbimed Advisors LLC boosted its holdings in shares of Vertex Pharmaceuticals by 1.9% during the second quarter. Orbimed Advisors LLC now owns 973,300 shares of the pharmaceutical company’s stock worth $178,484,000 after purchasing an additional 18,000 shares during the period. UBS Group AG boosted its holdings in shares of Vertex Pharmaceuticals by 0.7% during the second quarter. UBS Group AG now owns 251,951 shares of the pharmaceutical company’s stock worth $46,202,000 after purchasing an additional 1,657 shares during the period. Verition Fund Management LLC bought a new position in Vertex Pharmaceuticals in the second quarter worth about $705,000. Finally, WealthStone Inc. bought a new position in Vertex Pharmaceuticals in the second quarter worth about $472,000. Institutional investors and hedge funds own 94.70% of the company’s stock.

Shares of NASDAQ VRTX traded up $3.82 during midday trading on Thursday, reaching $184.94. The company’s stock had a trading volume of 1,304,200 shares, compared to its average volume of 1,462,886. Vertex Pharmaceuticals has a 12-month low of $151.80 and a 12-month high of $195.81. The firm has a 50 day moving average price of $177.09 and a 200-day moving average price of $178.45. The stock has a market capitalization of $46.55 billion, a P/E ratio of 65.35, a PEG ratio of 2.36 and a beta of 1.40. The company has a debt-to-equity ratio of 0.12, a current ratio of 3.74 and a quick ratio of 3.63.

Vertex Pharmaceuticals declared that its board has authorized a stock repurchase program on Wednesday, July 31st that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the pharmaceutical company to buy up to 1.2% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board believes its stock is undervalued.

Vertex Pharmaceuticals Company Profile

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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