These Analysts Revise Their Forecasts On Vertex Pharmaceuticals After Q3 Results

Vertex Pharmaceuticals Incorporated VRTX reported upbeat earnings for its third quarter, while sales missed estimates.

Vertex Pharmaceuticals posted adjusted earnings of $4.08 per share, beating market estimates of $3.98 per share. The company’s quarterly sales came in at $2.48 billion versus expectations of $2.50 billion.

Vertex said it now sees FY23 sales of around $9.85 billion from its CF treatments.

Vertex shares fell 0.6% to trade at $383.51 on Tuesday.

These analysts made changes to their price targets on Vertex Pharmaceuticals following earnings announcement.

• HC Wainwright & Co. raised the price target on Vertex Pharmaceuticals from $ $380 to $390. HC Wainwright & Co. analyst Andrew Fein maintained a Buy rating.
• Stifel increased the price target on Vertex Pharmaceuticals from $340 to $373. Stifel analyst Paul Matteis maintained a Hold rating.
• Cantor Fitzgerald raised the price target on Vertex Pharmaceuticals from $370 to $380. Cantor Fitzgerald analyst Olivia Brayer maintained an Overweight rating.
• BMO Capital raised the price target on Vertex Pharmaceuticals from $389 to $415. BMO Capital analyst Evan Seigerman maintained an Outperform rating.
• RBC Capital cut the price target on Vertex Pharmaceuticals from $350 to $347. RBC Capital analyst Brian Abrahams maintained a Sector Perform rating.

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