Vertex Q2 revenue beats estimates on strong demand for cystic fibrosis therapies, lifts outlook
VRTX•Revenue drivers
- CF THERAPIES - Continued strong demand for cystic fibrosis treatments, especially ALYFTREK and TRIKAFTA, drove revenue growth
- NEW PRODUCT GROWTH - CASGEVY and JOURNAVX posted rapid revenue gains, contributing to diversification beyond CF
- INTERNATIONAL EXPANSION - Revenue outside the U.S. rose 14% on strong CF performance, ALYFTREK uptake, increased CASGEVY infusions, and favorable foreign exchange
Analyst coverage
- The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 25 "strong buy" or "buy", 5 "hold" and 1 "sell" or "strong sell"
- The average consensus recommendation for the pharmaceuticals peer group is "buy"
- Wall Street's median 12-month price target for Vertex Pharmaceuticals Inc is $570.00, about 19.5% above its July 31 closing price of $477.10
- The stock recently traded at 24 times the next 12-month earnings vs. a P/E of 21 three months ago
Key financial details
| Metric | Beat/Miss | Actual | Consensus Estimate |
|---|---|---|---|
| Q2 Revenue | Beat | $3.33 bln | $3.23 bln (24 Analysts) |
| Q2 Adjusted EPS | Meet | $4.73 | $4.73 (20 Analysts) |
| Q2 EPS | $4.31 | ||
| Q2 Adjusted Net Income | Miss | $1.21 bln | $1.23 bln (18 Analysts) |
