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Jan. 30, 2020, 4:28 p.m. EST

Vertex Pharma stock rises on earnings, outlook beat

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    Vertex Pharmaceuticals Inc. (VRTX)

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By Wallace Witkowski

VRTX

Vertex Pharmaceuticals Inc. /zigman2/quotes/202259802/composite VRTX -2.42% shares rose in the extended session Thursday after the biotech drug maker's results and forecast topped Wall Street estimates. Vertex shares rose 2.9% after hours, following a 0.9% decline in the regular session to close at $230.31. The company reported fourth-quarter net income of $583.2 million, or $2.23 a share, compared with $1.55 billion, or $5.97 a share, in the year-ago period. Adjusted earnings were $1.70 a share versus $1.30 a share in the year-ago period. Revenue rose to $1.41 billion from $870.1 million in the year-ago quarter. Analysts surveyed by FactSet had forecast earnings of $1.21 a share on revenue of $1.01 billion. Vertex expects "total product" revenue of $5.1 billion to $5.3 billion in 2020, while analysts had forecast on revenue of $4.88 billion.

/zigman2/quotes/202259802/composite
US : U.S.: Nasdaq
$ 287.96
-7.15 -2.42%
Volume: 490,033
July 16, 2020 1:32p
P/E Ratio
49.94
Dividend Yield
N/A
Market Cap
$76.52 billion
Rev. per Employee
$1.22M
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