What is Zacks Research’s Forecast for VRTX FY2024 Earnings?

Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) – Research analysts at Zacks Research lowered their FY2024 EPS estimates for Vertex Pharmaceuticals in a report released on Tuesday, November 19th. Zacks Research analyst R. Department now expects that the pharmaceutical company will post earnings per share of ($2.09) for the year, down from their previous forecast of ($2.07). The consensus estimate for Vertex Pharmaceuticals’ current full-year earnings is ($1.82) per share. Zacks Research also issued estimates for Vertex Pharmaceuticals’ Q4 2024 earnings at $3.33 EPS, Q1 2025 earnings at $3.82 EPS, Q2 2025 earnings at $3.93 EPS, Q3 2025 earnings at $3.99 EPS, Q4 2025 earnings at $3.94 EPS, FY2025 earnings at $15.69 EPS, Q1 2026 earnings at $3.96 EPS, Q2 2026 earnings at $4.09 EPS, Q3 2026 earnings at $4.28 EPS and FY2026 earnings at $16.84 EPS.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its quarterly earnings data on Monday, November 4th. The pharmaceutical company reported $4.38 earnings per share for the quarter, topping analysts’ consensus estimates of $3.61 by $0.77. Vertex Pharmaceuticals had a negative net margin of 4.52% and a negative return on equity of 1.91%. The company had revenue of $2.77 billion for the quarter, compared to analysts’ expectations of $2.69 billion. During the same quarter last year, the company earned $3.67 earnings per share. The firm’s revenue for the quarter was up 11.6% on a year-over-year basis.

A number of other equities analysts have also recently commented on VRTX. StockNews.com cut shares of Vertex Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Thursday. Barclays cut shares of Vertex Pharmaceuticals from an “overweight” rating to an “equal weight” rating and lifted their target price for the company from $472.00 to $509.00 in a report on Monday, August 5th. Morgan Stanley boosted their price objective on shares of Vertex Pharmaceuticals from $473.00 to $476.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 5th. Oppenheimer dropped their price objective on shares of Vertex Pharmaceuticals from $550.00 to $540.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 30th. Finally, Piper Sandler boosted their price objective on shares of Vertex Pharmaceuticals from $500.00 to $535.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $504.38.

Vertex Pharmaceuticals Stock Up 0.1 %

VRTX stock opened at $450.97 on Friday. The company has a current ratio of 2.47, a quick ratio of 2.20 and a debt-to-equity ratio of 0.01. Vertex Pharmaceuticals has a twelve month low of $346.29 and a twelve month high of $519.88. The company’s 50 day moving average is $474.11 and its two-hundred day moving average is $472.92. The stock has a market cap of $116.14 billion, a P/E ratio of -226.62 and a beta of 0.39.

Hedge Funds Weigh In On Vertex Pharmaceuticals

A number of hedge funds have recently added to or reduced their stakes in VRTX. Northwest Investment Counselors LLC acquired a new position in shares of Vertex Pharmaceuticals during the third quarter valued at $25,000. Highline Wealth Partners LLC purchased a new position in Vertex Pharmaceuticals in the 3rd quarter worth about $27,000. Dunhill Financial LLC increased its stake in Vertex Pharmaceuticals by 70.6% in the 3rd quarter. Dunhill Financial LLC now owns 58 shares of the pharmaceutical company’s stock worth $27,000 after purchasing an additional 24 shares in the last quarter. GHP Investment Advisors Inc. purchased a new position in Vertex Pharmaceuticals in the 2nd quarter worth about $29,000. Finally, Stephens Consulting LLC purchased a new position in Vertex Pharmaceuticals during the 2nd quarter valued at about $31,000. Institutional investors and hedge funds own 90.96% of the company’s stock.

Insider Activity

In other Vertex Pharmaceuticals news, Director Sangeeta N. Bhatia sold 646 shares of Vertex Pharmaceuticals stock in a transaction on Friday, August 30th. The shares were sold at an average price of $500.00, for a total value of $323,000.00. Following the completion of the transaction, the director now owns 4,435 shares of the company’s stock, valued at $2,217,500. The trade was a 12.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Chairman Jeffrey M. Leiden sold 3,784 shares of Vertex Pharmaceuticals stock in a transaction on Friday, August 30th. The stock was sold at an average price of $499.00, for a total transaction of $1,888,216.00. Following the completion of the transaction, the chairman now directly owns 9,994 shares of the company’s stock, valued at approximately $4,987,006. This represents a 27.46 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 4,445 shares of company stock worth $2,218,394 over the last 90 days. Company insiders own 0.20% of the company’s stock.

About Vertex Pharmaceuticals

Vertex Pharmaceuticals Incorporated, a biotechnology company, engages in developing and commercializing therapies for treating cystic fibrosis (CF). It markets TRIKAFTA/KAFTRIO for people with CF with at least one F508del mutation for 2 years of age or older; SYMDEKO/SYMKEVI for people with CF for 6 years of age or older; ORKAMBI for CF patients 1 year or older; and KALYDECO for the treatment of patients with 1 year or older who have CF with ivacaftor.