Vertex Pharmaceuticals Inc. (NASDAQ: VRTX) is trading lower after earnings, but this may be due more to a give back from big gains this week and it may be a headline issue. The first headline that hit the tape was earnings at $0.74 EPS, but its adjusted earnings came to $0.86 EPS against the Thomson Reuters estimate of $0.70 EPS. Total revenue was $563.3 million, and INCIVEK net product revenue was $456.8. Thomson Reuters was expecting $518.36 million in total revenue.
For 2012, Vertex Pharmaceuticals gave an indication of INCIVEK net revenues in a range of $1.5 to $1.7 billion. The company also ended the last quarter and year with liquidity of $968.9 million in cash, cash equivalents, and marketable securities.
Vertex closed up 1.5% at $38.38 today and the after-hours reaction is already not quite as bad as originally seen. Shares are down 0.7% at $38.11 now after having been down almost 3% in the first reaction. So far we have seen only about 40,000 shares trade in the after-hours session and that is not representative of much conviction from traders. The 52-week trading range is $26.50 to $58.87.
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