5 Healthcare Stocks Making Moves After Earnings

4. Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Number of Hedge Fund Holders: 49

Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) surpassed financial expectations for the second quarter, driven by solid sales of its cystic fibrosis treatment Trikafta. The Boston-based biopharmaceutical company earned $3.60 per share on an adjusted basis, well above 17 cents per share in the year-ago period.

Revenue for the quarter jumped 22 percent on a year-over-year basis to $2.20 billion. Analysts were expecting Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) to post earnings of $3.52 per share on revenue of $2.13 billion.

Looking forward, Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) now expects revenue of $8.6 – $8.8 billion for the full year, up from its previous guidance of $8.4 – $8.6 billion.

Speaking on the results, CEO Reshma Kewalramani said:

“With sustained and growing leadership in CF, programs in five disease areas now entering or progressing through late-stage clinical development and the next wave of innovation beginning to enter the clinic later this year, Vertex has reached a new inflection point. As we reach more CF patients, we are poised to deliver significant, durable financial returns for years to come.”