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4-Traders Homepage  >  Equities  >  Nasdaq  >  Vertex Pharmaceuticals Incorporated    VRTX

Delayed Quote. Delayed  - 07/27 10:00:00 pm
96.01 USD   +1.08%
07/27DJVERTEX PHARMACE : Pharma Loss Narrows as Cystic Fibrosis Drug Sales ..
07/27 VERTEX PHARMACE : reports 2Q loss
07/27 VERTEX PHARMACE : Reports Second Quarter 2016 Financial Results
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Vertex Pharmaceuticals : Pharma Loss Narrows as Cystic Fibrosis Drug Sales Grow

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07/27/2016 | 11:15pm CEST

Vertex Pharmaceuticals Inc. said its second-quarter loss narrowed, as sales of its cystic fibrosis drugs continued to grow.

The Boston-based biopharmaceutical company's top- and bottom-line results beat expectations.

Its drug Orkambi, which received U.S. Food and Drug Administration approval roughly a year ago, treats patients with a genetic mutation that is the leading cause of the disease. The drug combines Vertex's Kalydeco, which treats a different genetic type of cystic fibrosis, with another Vertex compound.

Orkambi second-quarter sales rose to $245.5 million from $223 million in the first quarter. Kalydeco sales grew 16% to $180.2 million.

Analysts and investors likely will be listening on the conference calls for any details on the progress of new drugs in the company's research-and-development pipeline and on expanding access to its current drugs to more patients.

Overall, Vertex reported a second-quarter loss of $64.5 million, or 26 cents a share, narrowing from a year-earlier loss of $188.8 million, or 78 cents a share. Excluding stock-based compensation and other items, per-share earnings were 24 cents, compared with a year-earlier loss of 54 cents. Revenue increased to $431.6 million.

Analysts polled by Thomson Reuters expected a per-share profit of 21 cents, excluding items, and revenue of $428 million.

Vertex also affirmed its 2016 sales guidance for Orkambi and Kalydeco.

Write to Tess Stynes at tess.stynes@wsj.com

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Financials ($)
Sales 2016 1 782 M
EBIT 2016 258 M
Net income 2016 34,3 M
Finance 2016 414 M
Yield 2016 -
P/E ratio 2016 914,38
P/E ratio 2017 43,21
EV / Sales 2016 13,1x
EV / Sales 2017 8,90x
Capitalization 23 748 M
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Mean consensus OUTPERFORM
Number of Analysts 22
Average target price 109 $
Spread / Average Target 14%
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Managers
NameTitle
Jeffrey M. Leiden Chairman, President & Chief Executive Officer
Simon Bedson SVP & GM-International Commercial Operations
Ian F. Smith CFO, EVP & Principal Financial Officer
Jeffrey A. Chodakewitz Chief Medical Officer & Executive Vice President
David Matthew Altshuler Chief Scientific Officer & EVP-Global Research
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