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Thursday, September 21, 2023

Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Finding Zero Support

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Vertex Pharmaceuticals Incorporated (VRTX) shares are trading at lower $216.50 and the avg recommendation for the stock is Moderate Buy, while the current analyst price target stands at $288.33.

To add more color to this target, the company’s high over the last year is $306.08 and the low is $197.47. Over the last 52 weeks, VRTX is down -3.03% while the S&P 500 is up 15.91%. The catalyst for this interesting swing was the company’s recent earnings report.

A Notable Earnings Report

In the last quarter, VRTX reported a profit of $1.35 billion. Vertex Pharmaceuticals Incorporated also saw revenues increase to $1.54 billion. In addition, VRTX has free cash flow of $2.55 billion as of 09-2020. The company’s EBITDA came in at $698.88 million which compares well with its peers.

VRTX booked profit margins of 44.90%, its Return on Equity (ROE) is 38.20%, and its Return on Assets is 27.80%. All told, it is clear that, VRTX needs to be on your watchlist.

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Of course, we must look beyond the financials and question how well those numbers represent the sustainable earnings power of the business. Investors need to know how sustainable this current run. VRTX has a short ratio of 1.48 and outstanding shares of 260.39M.

Company Outlook

VRTX has seen increased volume after this news and investors are putting their support behind the value proposition. Furthermore, 10-day volume stands at 2.11 million and more growth is possible in the weeks ahead. Traders will also note the company’s earnings per share came in at 10.22. Vertex Pharmaceuticals Incorporated VRTX also noted assets of $11.3 billion at the end of the last quarter. Investors should also keep an eye on sector updates as VRTX has historically followed its peers on positive news.

All told, Vertex Pharmaceuticals Incorporated VRTX has strung together solid data and demonstrated underlying fundamentals. At its current valuation, VRTX represents an interesting risk/reward case. Traders should stay tuned to see if this recent report will push the stock to test recent resistance levels.

Vertex Pharmaceuticals Incorporated VRTX is now commanding a market cap of 55.45B and a float of 259.67M. VRTX is increasing its credibility in this sector and that could lead to more upside down the line. Sign-up for continuing coverage on shares of VRTX stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!

Disclosure: we hold no position in VRTX, either long or short, and we have not been compensated for this article.

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