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Vertex Pharmaceuticals (VRTX) Outpaces Stock Market Gains: What You Should Know
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Vertex Pharmaceuticals (VRTX - Free Report) closed the most recent trading day at $349.02, moving +0.86% from the previous trading session. This move outpaced the S&P 500's daily gain of 0.85%. Meanwhile, the Dow gained 0.14%, and the Nasdaq, a tech-heavy index, added 5.61%.
Heading into today, shares of the drugmaker had gained 1.5% over the past month, outpacing the Medical sector's loss of 1.55% and lagging the S&P 500's gain of 3.18% in that time.
Investors will be hoping for strength from Vertex Pharmaceuticals as it approaches its next earnings release, which is expected to be August 1, 2023. The company is expected to report EPS of $3.82, up 6.11% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $2.41 billion, up 9.72% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $14.51 per share and revenue of $9.74 billion, which would represent changes of -2.49% and +9.08%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Vertex Pharmaceuticals. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.1% higher. Vertex Pharmaceuticals currently has a Zacks Rank of #2 (Buy).
Valuation is also important, so investors should note that Vertex Pharmaceuticals has a Forward P/E ratio of 23.85 right now. Its industry sports an average Forward P/E of 19.21, so we one might conclude that Vertex Pharmaceuticals is trading at a premium comparatively.
We can also see that VRTX currently has a PEG ratio of 2.9. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. VRTX's industry had an average PEG ratio of 1.89 as of yesterday's close.
The Medical - Biomedical and Genetics industry is part of the Medical sector. This group has a Zacks Industry Rank of 101, putting it in the top 41% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow VRTX in the coming trading sessions, be sure to utilize Zacks.com.
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Vertex Pharmaceuticals (VRTX) Outpaces Stock Market Gains: What You Should Know
Vertex Pharmaceuticals (VRTX - Free Report) closed the most recent trading day at $349.02, moving +0.86% from the previous trading session. This move outpaced the S&P 500's daily gain of 0.85%. Meanwhile, the Dow gained 0.14%, and the Nasdaq, a tech-heavy index, added 5.61%.
Heading into today, shares of the drugmaker had gained 1.5% over the past month, outpacing the Medical sector's loss of 1.55% and lagging the S&P 500's gain of 3.18% in that time.
Investors will be hoping for strength from Vertex Pharmaceuticals as it approaches its next earnings release, which is expected to be August 1, 2023. The company is expected to report EPS of $3.82, up 6.11% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $2.41 billion, up 9.72% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $14.51 per share and revenue of $9.74 billion, which would represent changes of -2.49% and +9.08%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Vertex Pharmaceuticals. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.1% higher. Vertex Pharmaceuticals currently has a Zacks Rank of #2 (Buy).
Valuation is also important, so investors should note that Vertex Pharmaceuticals has a Forward P/E ratio of 23.85 right now. Its industry sports an average Forward P/E of 19.21, so we one might conclude that Vertex Pharmaceuticals is trading at a premium comparatively.
We can also see that VRTX currently has a PEG ratio of 2.9. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. VRTX's industry had an average PEG ratio of 1.89 as of yesterday's close.
The Medical - Biomedical and Genetics industry is part of the Medical sector. This group has a Zacks Industry Rank of 101, putting it in the top 41% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow VRTX in the coming trading sessions, be sure to utilize Zacks.com.