Health and Healthcare
How Analysts View Vertex After Earnings
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Vertex Pharmaceuticals Inc. (NASDAQ: VRTX) reported its first-quarter financial results on Wednesday after the markets closed. Despite making some solid gains on Thursday after a mixed earnings report, the stock is now back where it’s been at prior to earnings. A few analysts made calls around this move and we have included this in a montage.
One portfolio manager on CNBC noted that Vertex could end up being an acquisition target ahead, without mentioning any specifics.
The company said it had $0.09 in earnings per share (EPS) on $398.1 million in revenue. Consensus estimates had called for $0.27 per share on $437 million. In the same period of last year, Vertex posted a net loss of $0.62 on revenue of $138.51 million.
Looking ahead to 2016, the company gave some guidance on its clinical trials. Vertex anticipates total 2016 product revenues for Orkambi of $1.0 billion to $1.1 billion. The company increased its guidance for 2016 revenues of Kalydeco. The company expects product revenues of $685 million to $705 million, versus the prior range for Kalydeco product revenues of $670 million to $690 million for 2016. The consensus estimates for the full year call for $1.22 in EPS on $1.81 billion in revenue.
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