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Vertex Pharmaceuticals (VRTX) Stock Dips While Market Gains: Key Facts
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Vertex Pharmaceuticals (VRTX - Free Report) closed the most recent trading day at $439.70, moving -0.09% from the previous trading session. The stock trailed the S&P 500, which registered a daily gain of 0.29%. On the other hand, the Dow registered a loss of 0.25%, and the technology-centric Nasdaq increased by 0.43%.
The drugmaker's shares have seen an increase of 8.6% over the last month, surpassing the Medical sector's gain of 2.29% and the S&P 500's gain of 2.08%.
Market participants will be closely following the financial results of Vertex Pharmaceuticals in its upcoming release. The company plans to announce its earnings on February 5, 2024. In that report, analysts expect Vertex Pharmaceuticals to post earnings of $4.08 per share. This would mark year-over-year growth of 8.51%. Simultaneously, our latest consensus estimate expects the revenue to be $2.5 billion, showing an 8.52% escalation compared to the year-ago quarter.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Vertex Pharmaceuticals. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.15% upward. Vertex Pharmaceuticals presently features a Zacks Rank of #2 (Buy).
Digging into valuation, Vertex Pharmaceuticals currently has a Forward P/E ratio of 26.57. Its industry sports an average Forward P/E of 23.69, so one might conclude that Vertex Pharmaceuticals is trading at a premium comparatively.
It's also important to note that VRTX currently trades at a PEG ratio of 2.59. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The Medical - Biomedical and Genetics industry had an average PEG ratio of 1.88 as trading concluded yesterday.
The Medical - Biomedical and Genetics industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 96, which puts it in the top 39% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Vertex Pharmaceuticals (VRTX) Stock Dips While Market Gains: Key Facts
Vertex Pharmaceuticals (VRTX - Free Report) closed the most recent trading day at $439.70, moving -0.09% from the previous trading session. The stock trailed the S&P 500, which registered a daily gain of 0.29%. On the other hand, the Dow registered a loss of 0.25%, and the technology-centric Nasdaq increased by 0.43%.
The drugmaker's shares have seen an increase of 8.6% over the last month, surpassing the Medical sector's gain of 2.29% and the S&P 500's gain of 2.08%.
Market participants will be closely following the financial results of Vertex Pharmaceuticals in its upcoming release. The company plans to announce its earnings on February 5, 2024. In that report, analysts expect Vertex Pharmaceuticals to post earnings of $4.08 per share. This would mark year-over-year growth of 8.51%. Simultaneously, our latest consensus estimate expects the revenue to be $2.5 billion, showing an 8.52% escalation compared to the year-ago quarter.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Vertex Pharmaceuticals. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.15% upward. Vertex Pharmaceuticals presently features a Zacks Rank of #2 (Buy).
Digging into valuation, Vertex Pharmaceuticals currently has a Forward P/E ratio of 26.57. Its industry sports an average Forward P/E of 23.69, so one might conclude that Vertex Pharmaceuticals is trading at a premium comparatively.
It's also important to note that VRTX currently trades at a PEG ratio of 2.59. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The Medical - Biomedical and Genetics industry had an average PEG ratio of 1.88 as trading concluded yesterday.
The Medical - Biomedical and Genetics industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 96, which puts it in the top 39% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.