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Surging Earnings Estimates Signal Good News for Vertex Pharmaceuticals (VRTX)

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Vertex Pharmaceuticals Incorporated (VRTX - Free Report) is a global biotechnology company that could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.

These positive earnings estimate revisions suggest that analysts are becoming more optimistic on VRTX’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that Vertex Pharmaceuticals could be a solid choice for investors.

Current Quarter Estimates for VRTX

In the past 30 days, eight estimates have gone higher for Vertex Pharmaceuticals while one has gone lower in the same time period. The trend has been pretty favorable too, with estimates increasing from $1.81 a share 30 days ago, to $2.09 cents today, a move of 15.4%.

Current Year Estimates for VRTX

Meanwhile, Vertex Pharmaceuticals’ current year figures are also looking quite promising, with 12 estimates moving higher in the past month, compared to no lower. The consensus estimate trend has also seen a boost for this time frame, increasing from $7.60 per share 30 days ago to $8.80 today, an increase of 15.7%.

Bottom Line

The stock has also started to move higher lately, adding 9% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So, investors may want to consider this Zacks Rank #1(Strong Buy) stock to profit in the near future. You can see the complete list of today’s Zacks #1 Rank stocks here.

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