In the latest close session, Vertex Pharmaceuticals (VRTX) was down 1.24% at $463.86. This change lagged the S&P 500's daily gain of 0.65%. Elsewhere, the Dow saw an upswing of 0.48%, while the tech-heavy Nasdaq appreciated by 0.82%.
Prior to today's trading, shares of the drugmaker had gained 5.33% outpaced the Medical sector's gain of 2.08% and the S&P 500's gain of 1.15%.
Market participants will be closely following the financial results of Vertex Pharmaceuticals in its upcoming release. The company is forecasted to report an EPS of $5.05, showcasing a 26.88% upward movement from the corresponding quarter of the prior year. Meanwhile, the latest consensus estimate predicts the revenue to be $3.16 billion, indicating a 8.65% increase compared to the same quarter of the previous year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $18.4 per share and revenue of $11.98 billion, which would represent changes of +4280.95% and 0%, respectively, from the prior year.
Investors should also take note of any recent adjustments to analyst estimates for Vertex Pharmaceuticals. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.02% lower within the past month. As of now, Vertex Pharmaceuticals holds a Zacks Rank of #3 (Hold).
Digging into valuation, Vertex Pharmaceuticals currently has a Forward P/E ratio of 23.53. This expresses a premium compared to the average Forward P/E of 21.38 of its industry.
The Medical - Biomedical and Genetics industry is part of the Medical sector. This group has a Zacks Industry Rank of 103, putting it in the top 43% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Vertex Pharmaceuticals Incorporated (VRTX): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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