Market Update: Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) – Vertex Reports First Quarter 2016 Financial Results

[Business Wire] – Vertex Pharmaceuticals Incorporated today reported consolidated financial results for the quarter ended March 31, 2016 and provided an update on its approved CF medicines and other investigational medicines. Read more on this. Vertex Pharmaceuticals Incorporated (VRTX) , with a current market cap of $20.82B, started trading this morning at $83.79. During the trading session, VRTX traded between $81.78 to $85.76 and has traded between $75.90 and $143.45 over the past year. VRTX shares are currently priced at 42.71x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s -2.05x earnings multiple for the same period. In a review of the consensus earnings estimate this quarter, 19 sell-side analysts are looking at $0.29 per share, which would be $0.29 worse than the year-ago quarter and a $0.05 sequential decrease. Furthermore, our analysis shows the full-year EPS estimate to be $1.97, which would be a $3.08 improvement when compared to the last year’s annual results. The quarterly earnings estimate is predicated on a consensus revenue forecast of $439.36 Million. If reported, that would be a 217.23% increase over the year-ago quarter. In terms of ratings, Jefferies upgraded VRTX from Hold to Buy (Feb 1, 2016). Previously, Credit Suisse Initiated VRTX at to Outperform. The average price target for VRTX shares by the analysts covering the stock is $121.15, which is 44.59% above where the stock opened this morning. See more in (NASDAQ:VRTX) Similar Articles: Stock Update: Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) – Vertex to Announce First Quarter 2016 Financial Results on April 27 Market Update: Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) – Vertex Receives Complete Response Letter from U.S. FDA for Use of KALYDECO® (ivacaftor) in People with Cystic Fibrosis Ages 2 and Older with One of 23 Residual Function Mutations Company Update: Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) – Vertex Announces Upcoming Presentation at the J.P. Morgan Healthcare Conference and Date of Fourth Quarter and Full Year 2015 Financial Results