Vertex Pharmaceuticals Inc (NASDAQ:VRTX) reported mixed financial results for the first quarter after the market close on Monday.

Vertex reported first-quarter revenue of $2.99 billion, missing analyst estimates of $3.03 billion, according to Benzinga Pro. The company posted first-quarter adjusted earnings of $4.47 per share, beating estimates of $4.31 per share.

"CASGEVY and JOURNAVX delivered more than 25 percent of our growth this quarter, underscoring the strength of the increasingly diversified revenue base. As we execute across the commercial portfolio and pipeline and build our fourth franchise in nephrology, Vertex is poised to continue to deliver for patients and create long-term value," said Reshma Kewalramani, president and CEO of Vertex.

Vertex affirmed its full-year revenue guidance of $12.95 billion to $13.10 billion versus estimates of $13.06 billion.

Vertex shares fell 2.7% to trade at $418.83 on Tuesday.

These analysts made changes to their price targets on Vertex following earnings announcement.

  • RBC Capital analyst Brian Abrahams maintained the stock with an Outperform rating and raised the price target from $541 to $543.
  • Bernstein analyst William Pickering maintained the stock with an Outperform rating and lowered the price target from $577 to $572.

Considering buying VRTX stock? Here’s what analysts think:

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