Vertex Pharmaceuticals (VRTX) closed at $476.37 in the latest trading session, marking a -0.28% move from the prior day. The stock trailed the S&P 500, which registered a daily gain of 0.27%. Meanwhile, the Dow experienced a rise of 0.65%, and the technology-dominated Nasdaq saw an increase of 0.26%.
Shares of the drugmaker witnessed a gain of 3.2% over the previous month, beating the performance of the Medical sector with its loss of 4.14% and the S&P 500's gain of 2%.
Market participants will be closely following the financial results of Vertex Pharmaceuticals in its upcoming release. The company plans to announce its earnings on November 4, 2024. The company is forecasted to report an EPS of $4.13, showcasing a 1.23% upward movement from the corresponding quarter of the prior year. Meanwhile, our latest consensus estimate is calling for revenue of $2.68 billion, up 7.79% from the prior-year quarter.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $0.06 per share and a revenue of $10.73 billion, signifying shifts of -99.61% and +8.72%, respectively, from the last year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Vertex Pharmaceuticals. Recent revisions tend to reflect the latest near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 1.5% increase. As of now, Vertex Pharmaceuticals holds a Zacks Rank of #3 (Hold).
Looking at its valuation, Vertex Pharmaceuticals is holding a Forward P/E ratio of 7704.84. This denotes a premium relative to the industry's average Forward P/E of 23.08.
One should further note that VRTX currently holds a PEG ratio of 581.72. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. By the end of yesterday's trading, the Medical - Biomedical and Genetics industry had an average PEG ratio of 2.42.
The Medical - Biomedical and Genetics industry is part of the Medical sector. At present, this industry carries a Zacks Industry Rank of 75, placing it within the top 30% of over 250 industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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