Vertex raised its revenue guidance for the year on its second-quarter earnings call, primarily based on Trikafta’s continued strong performance in the quarter under review. The drug has seen solid uptake in the United States since its early launch and has been a key growth driver for Vertex’s growth. On second-quarter earnings call, management stated that it expects Trikafta to be the main revenue driver for Vertex in 2020.Per the company, Trikafta is now being taken by the majority of eligible patients in the United States.Adjusted research and development (R&D) expenses rose 18.5% to $321 million in the second quarter.Adjusted selling, general and administrative (SG&A) expenses increased 18.7% to $146 million in the reported quarter.Vertex raised its revenue guidance for the year on its second-quarter earnings call, primarily based on Trikafta’s continued strong performance in the quarter under review.The company now expects total revenues from CF products in the range of $5.7-$5.9 billion compared with the previous range of $5.3-$5.6 billion. In fact, the stock has rallied 27.6% so far this year compared with the industry’s increase of 5%.Combined adjusted R&D plus SG&A expenses are anticipated in the band of $1.95-$2 billion, unchanged from the previous expectation.Vertex is currently enrolling patients in a phase II proof-of-concept study on its investigational candidate, VX-147, for the treatment of APOL1-mediated focal segmental glomerulosclerosis (FSGS).Notably, the company is co-developing a gene editing treatment, CTX001, in partnership with CRISPR Therapeutics CRSP for two devastating diseases, namely sickle cell disease and transfusion-dependent beta thalassemia.
Early investors stand to make a killing, but you have to be ready to act and know just where to look.Vertex Pharmaceuticals Incorporated Price, Consensus and EPS SurpriseEarnings Estimates Rising for Green Brick Partners (GRBK): Will It Gain?Why Expeditors International (EXPD) Might be Well Poised for a SurgeEarnings Estimates Rising for Ensign Group (ENSG): Will It Gain?Earnings Estimates Rising for D.R. In July, the company initiated a phase II study to evaluate its second Z-AAT corrector, VX-864.Vertex extended its research collaboration agreement with Moderna MRNA in March for developing mRNA therapeutics to treat CF.Vertex Pharmaceuticals Incorporated price-consensus-eps-surprise-chart | Vertex Pharmaceuticals Incorporated QuoteVertex currently carries a Zacks Rank #3 (Hold).
The monthly returns are then compounded to arrive at the annual return. Certain Zacks Rank stocks for which no month-end price was available, pricing information was not collected, or for certain other reasons have been excluded from these return calculations.Real time prices by BATS. In fact, the stock has rallied 27.6% so far this year compared with the industry’s increase of 5%.Combined adjusted R&D plus SG&A expenses are anticipated in the band of $1.95-$2 billion, unchanged from the previous expectation.Vertex is currently enrolling patients in a phase II proof-of-concept study on its investigational candidate, VX-147, for the treatment of APOL1-mediated focal segmental glomerulosclerosis (FSGS).Notably, the company is co-developing a gene editing treatment, CTX001, in partnership with CRISPR Therapeutics CRSP for two devastating diseases, namely sickle cell disease and transfusion-dependent beta thalassemia.
Vertex (VRTX) delivered earnings and revenue surprises of 22.54% and 8.47%, respectively, for the quarter ended June 2020. The Zacks Consensus Estimate of $5.76 billion lies within the newly guided range.Shares of Vertex were up 0.6% in after-hours trading, following the guidance increase.
Moreover, higher international revenues due to the reimbursement approvals received for Orkambi and Symkevi in some international markets in 2019 also drove revenues.Vertex markets four CF medicines, namely Kalydeco (ivacaftor), Orkambi (lumacaftor-ivacaftor), Symdeko (a combination of tezacaftor and ivacaftor) and Trikafta (elexacaftor/tezacaftor/ivacaftor and ivacaftor).
ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating indiv idual securities.This quarterly report represents an earnings surprise of 22.54%.
Vertex has 1,000 employees and is ranked 4th among it's top 10 competitors.
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Screening and enrollment in these studies are currently underway and dosing has been resumed following temporary COVID-19-related pauses in both studies.We note that Vertex temporarily paused enrolling patients in the phase II study on its first oral small molecule corrector, VX-814, for the treatment of alpha-1 antitrypsin (“AAT”) deficiency following the onset of COVID-19. Vertex is a call centre operator that also offers a variety of other business process outsourcing (BPO) and customer management outsourcing services. However, enrollment has resumed at some of the study sites. See all articles » November 13, 2019.
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