Vertex Pharmaceuticals Incorporated (VRTX) reported adjusted earnings of $4.38 per share for the third quarter of 2024, surpassing the Zacks Consensus Estimate of $4.13. In the year-ago quarter, the company had recorded adjusted earnings of $4.08 per share. Earnings grew year over year owing to increased product revenues.The company reported total revenues of $2.77 billion for the third quarter, comprising cystic fibrosis (CF) product revenues. The figure beat the Zacks Consensus Estimate of $2.67 billion. ...

Financial Performance - Third quarter product revenue reached $2.77 billion[7], compared to $2.48 billion in Q3 2023[36] - The company is raising full year product revenue guidance to $10.8 - $10.9 billion[7], from a previous guidance of $10.65 - $10.85 billion[38] - Non-GAAP operating income for Q3 2024 was $1.31 billion[36], representing a 47% operating margin[36] - Non-GAAP net income for Q3 2024 was $1.14 billion, or $4.38 per diluted share[36] - Cash, cash equivalents, and total marketable securities at the end of Q3 2024 were $11.2 billion[36] Key Pipeline and Product Updates - Vanzacaftor triple has a U.S PDUFA target action date of January 2, 2025[6], and submissions are complete in multiple geographies[9] - VX-522, a CFTR mRNA therapy, is in development for over 5,000 cystic fibrosis patients who cannot benefit from CFTR modulators, with data expected in H1 2025[9, 29] - CASGEVY launch is underway for sickle cell disease and transfusion-dependent beta thalassemia, with the first patient dosed with commercial product in Q3[6] - Suzetrigine for moderate to severe acute pain has a PDUFA target action date of January 30, 2025[6] - Povetacicept (pove) Phase 3 trial is underway in IgAN, with a potential for accelerated approval in the U.S if the interim analysis at Week 36 is positive[7, 15]

Vertex Pharmaceuticals (VRTX) came out with quarterly earnings of $4.38 per share, beating the Zacks Consensus Estimate of $4.13 per share. This compares to earnings of $4.08 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 6.05%. A quarter ago, it was expected that this drugmaker would post a loss of $11.50 per share when it actually produced a loss of $12.83, delivering a surprise of -11.57%.Over the last four quarters, the c ...

In the latest market close, Vertex Pharmaceuticals (VRTX) reached $475.08, with a +1% movement compared to the previous day. The stock exceeded the S&P 500, which registered a loss of 0.33% for the day. At the same time, the Dow lost 0.22%, and the tech-heavy Nasdaq lost 0.56%.Heading into today, shares of the drugmaker had gained 0.13% over the past month, outpacing the Medical sector's loss of 4.31% and lagging the S&P 500's gain of 1.83% in that time.Investors will be eagerly watching for the performance ...

In its upcoming report, Vertex Pharmaceuticals (VRTX) is predicted by Wall Street analysts to post quarterly earnings of $4.13 per share, reflecting an increase of 1.2% compared to the same period last year. Revenues are forecasted to be $2.68 billion, representing a year-over-year increase of 7.8%. The consensus EPS estimate for the quarter has been revised 1.2% higher over the last 30 days to the current level. This reflects how the analysts covering the stock have collectively reevaluated their initial e ...

Vertex Pharmaceuticals (VRTX) closed at $476.37 in the latest trading session, marking a -0.28% move from the prior day. The stock trailed the S&P 500, which registered a daily gain of 0.27%. Meanwhile, the Dow experienced a rise of 0.65%, and the technology-dominated Nasdaq saw an increase of 0.26%.Shares of the drugmaker witnessed a gain of 3.2% over the previous month, beating the performance of the Medical sector with its loss of 4.14% and the S&P 500's gain of 2%.Market participants will be closely fol ...

The most recent trading session ended with Vertex Pharmaceuticals (VRTX) standing at $478.09, reflecting a -1.02% shift from the previouse trading day's closing. This change lagged the S&P 500's 0.18% loss on the day. At the same time, the Dow lost 0.8%, and the tech-heavy Nasdaq gained 0.27%.Prior to today's trading, shares of the drugmaker had gained 3.89% over the past month. This has outpaced the Medical sector's loss of 3.03% and lagged the S&P 500's gain of 4.46% in that time.Market participants will ...

Core Viewpoint - Vertex Pharmaceuticals is experiencing mixed performance in the stock market, with a slight increase in share price but a decline over the past month, indicating potential challenges ahead [1][2]. Financial Performance - The upcoming earnings report on November 4, 2024, is expected to show an EPS of $4.11, reflecting a growth of 0.74% year-over-year, and revenue is projected at $2.68 billion, up 7.83% from the previous year [2]. - For the full year, earnings are projected at $0.05 per share, a significant decline of 99.67%, while revenue is expected to reach $10.74 billion, an increase of 8.84% compared to the prior year [3]. Analyst Projections - Recent shifts in analyst projections are crucial for understanding the company's near-term business trends, with positive revisions indicating a favorable outlook on business health and profitability [4]. - The Zacks Rank system currently rates Vertex Pharmaceuticals as 5 (Strong Sell), reflecting a stagnant EPS estimate over the past month [6]. Valuation Metrics - Vertex Pharmaceuticals has a Forward P/E ratio of 10389.82, significantly higher than the industry average of 22.58, indicating a premium valuation [7]. - The company also has a PEG ratio of 831.19, compared to the industry average of 2.28, suggesting that the stock may be overvalued relative to its expected earnings growth [8]. Industry Context - The Medical - Biomedical and Genetics industry, to which Vertex Pharmaceuticals belongs, has a Zacks Industry Rank of 86, placing it in the top 35% of over 250 industries, indicating overall strength in this sector [8][9].

Vertex Pharmaceuticals (VRTX) closed at $465.08 in the latest trading session, marking a +0.48% move from the prior day. This move outpaced the S&P 500's daily gain of 0.42%. Meanwhile, the Dow experienced a rise of 0.04%, and the technology-dominated Nasdaq saw an increase of 0.38%. The drugmaker's stock has dropped by 6.66% in the past month, falling short of the Medical sector's loss of 2.49% and the S&P 500's gain of 2.06%. The upcoming earnings release of Vertex Pharmaceuticals will be of great interes ...

The recommendations of Wall Street analysts are often relied on by investors when deciding whether to buy, sell, or hold a stock. Media reports about these brokerage-firm-employed (or sell-side) analysts changing their ratings often affect a stock's price. Do they really matter, though? Before we discuss the reliability of brokerage recommendations and how to use them to your advantage, let's see what these Wall Street heavyweights think about Vertex Pharmaceuticals (VRTX) . Vertex currently has an average ...