Vertex stock remained muted late Monday after the biotech company reported adjusted earnings of $4.38 per share on $2.77 billion in third-quarter sales.
On average, analysts polled by FactSet expected Vertex Pharmaceuticals (VRTX) to earn $4.08 per share and report $2.69 billion in sales.
In the year-earlier period, Vertex earned $4.08 a share and had $2.48 billion in sales.
For the year, Vertex raised its sales outlook to $10.8 billion to $10.9 billion. Analysts called for earnings of 33 cents a share and $10.76 billion in sales. The company noted it's approaching two potential near-term launches with a next-generation cystic fibrosis drug and a pain treatment.
In after-hours trades, Vertex stock rose more than 1% to 479.72. Shares are forming a flat base with a buy point at 510.63, according to MarketSurge.
https://www.investors.com/news/technology/vertex-stock-vertex-pharmaceuticals-earnings-q3-2024/
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