On Jan 28, Vertex Pharmaceuticals announced fourth-quarter and 2014 financial results. The company’s fourth-quarter loss came in at 73 cents per share (including stock-based compensation expense), much wider than the year-ago loss of 66 cents and the Zacks Consensus Estimate of a loss of 61 cents.
This slump shouldn’t be too much of a surprise to investors, as the biotechnology company has seen 3 negative revisions in the past few weeks and its current year earnings consensus has moved lower over the last 30 days. This suggests there may be more trouble down the road. So make sure to keep an eye on this stock going forward to see if this recent slump will continue, as the earnings picture definitely suggests that this might be the case.
VRTX currently has a Zacks Rank #4 (Sell).
Investors interested in the medicine industry may consider better-ranked stock like Ophthotech Corporation (OPHT), which sports a Zacks Rank #1 (Strong Buy).
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