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Vertex Pharmaceuticals Inc. Stock and Q1 Earnings

The Shares of Vertex Pharmaceuticals Inc. VRTX dropped 0.46% to $213.87 Wednesday, on what proved to be an all-around great trading session for the stock market, with the S&P 500 Index SPX rising 0.07% to 4,167.59 and the Dow Jones Industrial Average DJIA rising 0.29% to 34,230.34. This was the stock’s third consecutive day of losses.

Vertex Pharmaceuticals Inc. closed $92.21 short of its 52-week high ($306.08), which the company reached on July 7th. The stock underperformed when compared to some of its competitors Wednesday, as Johnson & Johnson JNJ fell 0.42% to $167.07, Merck & Co. Inc. MRK rose 2.25% to $77.70, and AbbVie Inc. ABBV rose 1.65% to $115.78. Trading volume (1.2 M) remained 548,692 below its 50-day average volume of 1.8 M.

Vertex Pharmaceuticals Inc. came out with quarterly earnings of $2.98 per share, beating the Zacks Consensus Estimate of $2.77 per share. This compares to earnings of $2.56 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of 7.58%. A quarter ago, it expected that this drugmaker would post earnings of $2.65 per share when it actually produced earnings of $2.51, delivering a surprise of -5.28%.Over the last four quarters, the company has surpassed consensus EPS estimates three times.

This pharmacy belongs to the Zacks Medical – Biomedical and Genetics industry, posted revenues of $1.72 billion for the quarter ended March 2021, surpassing the Zacks Consensus Estimate by 3.87%. This compares to year-ago revenues of $1.52 billion. The company has topped consensus revenue estimates four times over the last four quarters.

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