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Vertex Pharmaceuticals (VRTX) closed at $490.85 in the latest trading session, marking a +0.43% move from the prior day. The stock's change was more than the S&P 500's daily gain of 0.28%. Elsewhere, the Dow saw an upswing of 0.53%, while the tech-heavy Nasdaq appreciated by 0.4%.

Coming into today, shares of the drugmaker had gained 1.67% in the past month. In that same time, the Medical sector gained 0.79%, while the S&P 500 gained 3.78%.

Investors will be eagerly watching for the performance of Vertex Pharmaceuticals in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on August 1, 2024. The company is predicted to post an EPS of $4.14, indicating a 6.43% growth compared to the equivalent quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $2.63 billion, indicating a 5.63% increase compared to the same quarter of the previous year.

VRTX's full-year Zacks Consensus Estimates are calling for earnings of $17.02 per share and revenue of $10.72 billion. These results would represent year-over-year changes of +11.75% and +8.64%, respectively.

Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Vertex Pharmaceuticals. These revisions typically reflect the latest short-term business trends, which can change frequently. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.

Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Vertex Pharmaceuticals is holding a Zacks Rank of #2 (Buy) right now.

In terms of valuation, Vertex Pharmaceuticals is presently being traded at a Forward P/E ratio of 28.72. This valuation marks a premium compared to its industry's average Forward P/E of 24.76.

Investors should also note that VRTX has a PEG ratio of 2.25 right now. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The Medical - Biomedical and Genetics was holding an average PEG ratio of 2.26 at yesterday's closing price.

The Medical - Biomedical and Genetics industry is part of the Medical sector. This group has a Zacks Industry Rank of 75, putting it in the top 30% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

To follow VRTX in the coming trading sessions, be sure to utilize Zacks.com.

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