Vertex Pharmaceuticals (VRTX) Q1 Earnings: What To Expect
Biotech company Vertex Pharmaceuticals (NASDAQ: VRTX)
will be reporting results this Monday after the bell. Here’s what investors should know.
Vertex Pharmaceuticals beat analysts’ revenue expectations last quarter, reporting revenues of $3.19 billion, up 9.5% year on year. It was a mixed quarter for the company, with a narrow beat of analysts’ revenue estimates but a significant miss of analysts’ EPS estimates.
Is Vertex Pharmaceuticals a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Vertex Pharmaceuticals’s revenue to grow 6.5% year on year, improving from the 3% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Vertex Pharmaceuticals has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at Vertex Pharmaceuticals’s peers in the therapeutics segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Moderna delivered year-on-year revenue growth of 260%, beating analysts’ expectations by 55.8%, and Biogen reported revenues up 1.9%, topping estimates by 11.2%. Biogen traded up 3.2% following the results.
Read our full analysis of Moderna’s results here and Biogen’s results here.
There has been positive sentiment among investors in the therapeutics segment, with share prices up 6% on average over the last month. Vertex Pharmaceuticals is down 2.5% during the same time and is heading into earnings with an average analyst price target of $548.25 (compared to the current share price of $423.29).
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