Vertex Pharmaceuticals (NASDAQ:VRTX) Releases Quarterly Earnings Results, Beats Expectations By $0.22 EPS

Vertex Pharmaceuticals (NASDAQ:VRTX) released its earnings results on Monday. The pharmaceutical company reported $4.80 earnings per share for the quarter, topping the consensus estimate of $4.58 by $0.22, FiscalAI reports. The company had revenue of $3.08 billion during the quarter, compared to the consensus estimate of $3.05 billion. Vertex Pharmaceuticals had a net margin of 31.86% and a return on equity of 23.91%. The company’s revenue was up 11.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $4.38 EPS. Vertex Pharmaceuticals updated its FY 2025 guidance to EPS.

Vertex Pharmaceuticals Trading Down 1.0%

NASDAQ VRTX opened at $421.67 on Wednesday. Vertex Pharmaceuticals has a 52 week low of $362.50 and a 52 week high of $519.88. The stock has a market cap of $108.11 billion, a price-to-earnings ratio of 30.14 and a beta of 0.43. The company has a 50-day moving average price of $403.14 and a two-hundred day moving average price of $430.65.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of VRTX. Gamco Investors INC. ET AL bought a new position in Vertex Pharmaceuticals in the 2nd quarter worth about $228,000. ICW Investment Advisors LLC increased its stake in Vertex Pharmaceuticals by 5.0% during the 2nd quarter. ICW Investment Advisors LLC now owns 604 shares of the pharmaceutical company’s stock valued at $269,000 after buying an additional 29 shares during the period. MUFG Securities EMEA plc acquired a new position in Vertex Pharmaceuticals during the 2nd quarter valued at about $337,000. Blue Chip Partners LLC increased its stake in Vertex Pharmaceuticals by 31.5% during the 2nd quarter. Blue Chip Partners LLC now owns 1,106 shares of the pharmaceutical company’s stock valued at $492,000 after buying an additional 265 shares during the period. Finally, Curi Capital LLC boosted its holdings in shares of Vertex Pharmaceuticals by 198.3% in the second quarter. Curi Capital LLC now owns 1,256 shares of the pharmaceutical company’s stock valued at $559,000 after acquiring an additional 835 shares in the last quarter. Institutional investors own 90.96% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on VRTX. HC Wainwright reduced their price target on shares of Vertex Pharmaceuticals from $550.00 to $478.00 and set a “buy” rating on the stock in a research report on Tuesday, August 5th. Stifel Nicolaus lowered their price objective on shares of Vertex Pharmaceuticals from $455.00 to $445.00 and set a “hold” rating for the company in a research report on Tuesday. Truist Financial set a $490.00 price objective on shares of Vertex Pharmaceuticals and gave the company a “buy” rating in a research report on Tuesday, August 5th. UBS Group set a $553.00 price objective on shares of Vertex Pharmaceuticals and gave the company a “buy” rating in a research report on Tuesday, August 5th. Finally, Leerink Partners raised shares of Vertex Pharmaceuticals from a “market perform” rating to an “outperform” rating and lowered their price objective for the company from $458.00 to $456.00 in a research report on Thursday, September 25th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and twelve have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $489.45.

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.