Analyst Consensus ?
ConsensusBuy56 ratings
Bullish4885.7%
Neutral712.5%
Bearish11.8%
Vertex Pharmaceuticals Incorporated · VRTX · FY2025 Q4 · Calendar Q1 2026
Vertex maintains 2026 outlook as renal pipeline advances
The supplied analysis supports a constructive but conditional view: established cystic fibrosis products and expanding non-CF launches provide a current growth base, while the renal pipeline offers additional potential. The thesis depends on regulatory execution, payer access, and the safety and efficacy profile of Povatacept and related programs.
Reported After market closeNASDAQHealthcare
$133.69B market cap
100quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$5.03
Consensus $5.11
EPS surprise
-1.6%
Reported versus consensus
Reported revenue
$3.19B
Consensus $3.18B
Revenue surprise
+0.2%
Reported versus consensus
Market reaction
event-close to next-session close
Stock move
+5.7%
Event window
SPY move
+0.1%
Same window
Abnormal move
+5.6%
Stock minus SPY
Volume
1.9×
Versus trailing sessions
Subsequent drift
-5.2%
Up to 20 sessions
VRTXSPY benchmark
Ask FN2 about VRTX FY2025 Q4
Transcript, numbers and history already loaded
Why did VRTX rise 5.7% after missing EPS estimates in FY2025 Q4?What changed in VRTX's guidance and outlook in FY2025 Q4?Give me the bull and bear case for VRTX after FY2025 Q4 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
Compared with the prior-quarter analysis, the supplied current analysis shifts the focus from broad launch momentum to execution of the renal pipeline and 2026 commercialization. Povatacept received additional expedited-development designations and moved toward a rolling BLA, while Genavix field-force expansion and renal commercial preparation became more prominent. Guidance was maintained.
Guidance delta
Maintained. The supplied analysis says 2026 revenue guidance targets $12.95-$13.10 billion, with $5.65-$5.75 billion of non-GAAP operating expenses.
Key takeaways
- Management described 2025 revenue of $12.0 billion, up 9% year over year, with Q4 revenue up 10%.
- The cystic fibrosis franchise remained the main growth engine, while AlifTrex/ElefTrex expansion and new-age-group filings were highlighted.
- Povatacept advanced toward a rolling BLA, while enaxaplin studies and other renal programs remained important pipeline milestones.
- Non-CF products, including KASJEVY and Genavix, were expected to contribute more than $500 million to 2026 revenue.
Management priorities
- Expand AlifTrex/ElefTrex across geographies and age groups.
- Advance Povatacept and enaxaplin through regulatory and clinical milestones.
- Build renal commercial and patient-support capabilities ahead of potential launches.
- Expand Genavix commercial coverage and continue investment in research and development.
Follow VRTX with an agent that reads every filing, transcript, and price print. Free to start.
Try FN2 freeEarnings History
Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$527.24Current
$175Low
$476.87Average
$665High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Sep 30, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| UBS | Buy | Buy | Maintain | Sep 28, 2026 |
| Truist Securities | Buy | Buy | Maintain | Aug 5, 2026 |
| Barclays | Overweight | Overweight | Maintain | Aug 5, 2026 |
| TD Cowen | Buy | Buy | Maintain | Aug 4, 2026 |
| Cantor Fitzgerald | Overweight | Overweight | Maintain | Aug 4, 2026 |
| Canaccord Genuity | Hold | Hold | Maintain | Aug 4, 2026 |
| RBC Capital | Outperform | Outperform | Maintain | Jul 7, 2026 |
| Baird | Underperform | Underperform | Maintain | Jul 7, 2026 |
| Morgan Stanley | Overweight | Overweight | Maintain | May 5, 2026 |
| Bernstein | Outperform | Outperform | Maintain | May 5, 2026 |
| Maxim Group | Buy | Hold | Upgrade | Mar 18, 2026 |
| Oppenheimer | Outperform | Outperform | Maintain | Mar 10, 2026 |
| HC Wainwright & Co. | Buy | Buy | Maintain | Mar 10, 2026 |
| Citigroup | Buy | Buy | Maintain | Mar 10, 2026 |
| B of A Securities | Buy | Buy | Maintain | Mar 10, 2026 |
| HC Wainwright& Co. | Buy | Buy | Maintain | Feb 17, 2026 |
| Stifel | Hold | Hold | Maintain | Feb 13, 2026 |
| Scotiabank | Sector Perform | Sector Perform | Maintain | Feb 13, 2026 |
| Evercore ISI Group | Outperform | Outperform | Maintain | Jan 23, 2026 |
| Wolfe Research | Outperform | Peer Perform | Upgrade | Jan 6, 2026 |
| Leerink Partners | Outperform | Outperform | Maintain | Dec 29, 2025 |
| Wells Fargo | Overweight | Overweight | Maintain | Dec 10, 2025 |
| JP Morgan | Overweight | Overweight | Maintain | Oct 8, 2025 |
| Guggenheim | Buy | Buy | Maintain | Aug 6, 2025 |
| BMO Capital | Outperform | Outperform | Maintain | Aug 5, 2025 |
| Needham | Hold | Hold | Maintain | May 6, 2025 |
| Piper Sandler | Overweight | Overweight | Maintain | Jan 27, 2025 |
| Jefferies | Buy | Hold | Upgrade | Dec 9, 2024 |
| Argus Research | Buy | Buy | Maintain | Jun 17, 2024 |
| Goldman Sachs | Buy | Buy | Maintain | Jan 31, 2024 |
| William Blair | Outperform | Outperform | Maintain | May 30, 2023 |
| SVB Leerink | Outperform | Outperform | Maintain | Feb 8, 2023 |
| Cowen & Co. | Outperform | Outperform | Maintain | Jun 13, 2022 |
| Raymond James | Perform | Market Perform | Maintain | Jul 1, 2021 |
| Credit Suisse | Outperform | Outperform | Maintain | Feb 2, 2021 |
| SunTrust Robinson Humphrey | Buy | Buy | Maintain | Jun 24, 2020 |
| JMP Securities | Market Outperform | Market Outperform | Maintain | Apr 30, 2020 |
| CFRA | Buy | Buy | Maintain | Apr 30, 2020 |
| Stifel Nicolaus | Buy | Buy | Maintain | Jan 31, 2020 |
| PiperJaffray | Overweight | Overweight | Maintain | Jan 6, 2020 |
| Bank of America | Buy | Buy | Maintain | Nov 20, 2019 |
| Piper Jaffray | Overweight | Overweight | Maintain | Oct 31, 2019 |
| H.C. Wainwright | Buy | Neutral | Upgrade | Oct 26, 2018 |
| Argus | Buy | Hold | Upgrade | May 5, 2018 |
| Deutsche Bank | Buy | Buy | Maintain | Dec 13, 2017 |
| DA Davidson | Buy | Buy | Maintain | Sep 29, 2017 |
| Janney Montgomery Scott | Buy | Neutral | Upgrade | Jul 19, 2017 |
| Janney Capital | Buy | Neutral | Upgrade | Jul 19, 2017 |
| Leerink Swann | Outperform | Outperform | Maintain | Mar 8, 2016 |
| BTIG Research | Buy | Buy | Maintain | Jan 6, 2015 |
| Summer Street | Neutral | Buy | Downgrade | Oct 30, 2013 |
| Wunderlich | Buy | Buy | Maintain | May 17, 2013 |
| Lazard | Neutral | Buy | Downgrade | Jan 15, 2013 |
| Brean Capital | Buy | Hold | Upgrade | May 8, 2012 |
| ISI Group | Buy | Neutral | Upgrade | May 7, 2012 |
| Bank oferica | Buy | Buy | Maintain | Mar 14, 2012 |
Named analyst price targets
Upside is calculated against the persisted current price $527.24. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| UBS | Analyst unavailable | $615 | $528.04 | +16.6% | Sep 28, 2026 |
| Jefferies | Akash Tewari | $640 | $514.99 | +21.4% | Sep 23, 2026 |
| H.C. Wainwright | Andrew Fein | $641 | $519.67 | +21.6% | Sep 22, 2026 |
| Morgan Stanley | Terence Flynn | $665 | $547.65 | +26.1% | Sep 1, 2026 |
| Goldman Sachs | Analyst unavailable | $653 | $544.52 | +23.9% | Sep 1, 2026 |
| Bernstein | Jeffrey Walch | $608 | $530.29 | +15.3% | Aug 11, 2026 |
| Wolfe Research | Andy Chen | $562 | $522.78 | +6.6% | Aug 10, 2026 |
| Truist Financial | Analyst unavailable | $565 | $488.56 | +7.2% | Aug 5, 2026 |
| Barclays | Analyst unavailable | $617 | $478.7 | +17.0% | Aug 5, 2026 |
| Cantor Fitzgerald | Analyst unavailable | $595 | $470.72 | +12.9% | Aug 4, 2026 |
| Canaccord Genuity | Analyst unavailable | $442 | $470.72 | -16.2% | Aug 4, 2026 |
| Stifel Nicolaus | Analyst unavailable | $500 | $470.72 | -5.2% | Aug 4, 2026 |
| UBS | Analyst unavailable | $585 | $481.7 | +11.0% | Jul 13, 2026 |
| Truist Financial | Analyst unavailable | $560 | $479.02 | +6.2% | Jul 13, 2026 |
| RBC Capital | Analyst unavailable | $570 | $529.59 | +8.1% | Jul 7, 2026 |
| Robert W. Baird | Analyst unavailable | $350 | $529.59 | -33.6% | Jul 7, 2026 |
| Truist Financial | Danielle Brill | $542 | $435.93 | +2.8% | May 27, 2026 |
| Barclays | Analyst unavailable | $615 | $424.36 | +16.6% | May 6, 2026 |
| Morgan Stanley | Analyst unavailable | $616 | $417.72 | +16.8% | May 5, 2026 |
| RBC Capital | Brian Abrahams | $543 | $429.85 | +3.0% | May 5, 2026 |
| Bernstein | Analyst unavailable | $572 | $429.85 | +8.5% | May 5, 2026 |
| Canaccord Genuity | Analyst unavailable | $436 | $429.85 | -17.3% | May 5, 2026 |
| Canaccord Genuity | Analyst unavailable | $437 | $423.24 | -17.1% | Apr 30, 2026 |
| Morgan Stanley | Analyst unavailable | $612 | $436.89 | +16.1% | Apr 10, 2026 |
| Truist Financial | Joon Lee | $525 | $499.14 | -0.4% | Mar 10, 2026 |
| Jefferies | Akash Tewari | $580 | $496.5 | +10.0% | Mar 10, 2026 |
| BMO Capital | Evan David Seigerman | $600 | $487.57 | +13.8% | Mar 2, 2026 |
| Canaccord Genuity | Analyst unavailable | $441 | $491.47 | -16.4% | Feb 17, 2026 |
| Barclays | Eliana Merle | $607 | $491.47 | +15.1% | Feb 17, 2026 |
| H.C. Wainwright | Andrew Fein | $591 | $491.47 | +12.1% | Feb 17, 2026 |
| Morgan Stanley | Terence Flynn | $570 | $497.42 | +8.1% | Feb 13, 2026 |
| Scotiabank | Louise Chen | $558 | $493.98 | +5.8% | Feb 13, 2026 |
| RBC Capital | Analyst unavailable | $541 | $496.02 | +2.6% | Feb 13, 2026 |
| Bernstein | Analyst unavailable | $577 | $497.21 | +9.4% | Feb 13, 2026 |
| Cantor Fitzgerald | Analyst unavailable | $590 | $495.11 | +11.9% | Feb 13, 2026 |
| Stifel Nicolaus | Paul Matteis | $466 | $465.02 | -11.6% | Feb 13, 2026 |
| H.C. Wainwright | Andrew Fein | $518 | $465.02 | -1.8% | Feb 13, 2026 |
| Barclays | Analyst unavailable | $606 | $474.17 | +14.9% | Jan 27, 2026 |
| UBS | Analyst unavailable | $545 | $474.09 | +3.4% | Jan 26, 2026 |
| Evercore ISI | Cory Kasimov | $530 | $469.11 | +0.5% | Jan 23, 2026 |
| RBC Capital | Brian Abrahams | $546 | $461.14 | +3.6% | Jan 22, 2026 |
| UBS | Michael Yee | $535 | $468.38 | +1.5% | Jan 6, 2026 |
| Leerink Partners | Analyst unavailable | $525 | $462.12 | -0.4% | Dec 29, 2025 |
| Morgan Stanley | Analyst unavailable | $564 | $461.48 | +7.0% | Dec 5, 2025 |
| Morgan Stanley | Terence Flynn | $516 | $433.15 | -2.1% | Dec 3, 2025 |
| RBC Capital | Analyst unavailable | $415 | $426.93 | -21.3% | Nov 4, 2025 |
| Cantor Fitzgerald | Carter Gould | $485 | $427.3 | -8.0% | Nov 4, 2025 |
| Stifel Nicolaus | Analyst unavailable | $445 | $426 | -15.6% | Nov 4, 2025 |
| Barclays | Gena Wang | $414 | $426 | -21.5% | Nov 4, 2025 |
| Morgan Stanley | Analyst unavailable | $438 | $413.93 | -16.9% | Oct 10, 2025 |
| Leerink Partners | Analyst unavailable | $456 | $381.87 | -13.5% | Sep 25, 2025 |
| Truist Financial | Analyst unavailable | $490 | $374.98 | -7.1% | Aug 5, 2025 |
| Stifel Nicolaus | Analyst unavailable | $455 | $374.98 | -13.7% | Aug 5, 2025 |
| UBS | Eliana Merle | $553 | $374.98 | +4.9% | Aug 5, 2025 |
| BMO Capital | Analyst unavailable | $530 | $374.98 | +0.5% | Aug 5, 2025 |
| H.C. Wainwright | Analyst unavailable | $478 | $374.98 | -9.3% | Aug 5, 2025 |
| Morgan Stanley | Analyst unavailable | $439 | $374.98 | -16.7% | Aug 5, 2025 |
| RBC Capital | Brian Abrahams | $420 | $441.99 | -20.3% | Jun 17, 2025 |
| Scotiabank | Greg Harrison | $442 | $450.03 | -16.2% | May 6, 2025 |
| Cantor Fitzgerald | Analyst unavailable | $535 | $490.47 | +1.5% | Apr 22, 2025 |
| BMO Capital | Evan Seigerman | $545 | $461.68 | +3.4% | Jan 31, 2025 |
| Wells Fargo | Mohit Bansal | $460 | $441.52 | -12.8% | Jan 30, 2025 |
| Morgan Stanley | Terence Flynn | $456 | $409.56 | -13.5% | Jan 10, 2025 |
| RBC Capital | Brian Abrahams | $400 | $469.22 | -24.1% | Dec 19, 2024 |
| Jefferies | Michael Yee | $550 | $462.1 | +4.3% | Dec 9, 2024 |
| Oppenheimer | Hartaj Singh | $540 | $499.1 | +2.4% | Nov 5, 2024 |
| RBC Capital | Brian Abrahams | $451 | $499.88 | -14.5% | Nov 5, 2024 |
| Canaccord Genuity | Whitney Ijem | $361 | $478.09 | -31.5% | Oct 22, 2024 |
| BMO Capital | Evan David Seigerman | $566 | $485.74 | +7.4% | Oct 21, 2024 |
| Goldman Sachs | Salveen Richter | $598 | $483 | +13.4% | Oct 21, 2024 |
| Bank of America Securities | Geoff Meacham | $541 | $482.12 | +2.6% | Oct 14, 2024 |
| RBC Capital | Brian Abrahams | $437 | $458.94 | -17.1% | Oct 9, 2024 |
| Truist Financial | Joon Lee | $550 | $494.46 | +4.3% | Aug 5, 2024 |
| Oppenheimer | Hartaj Singh | $550 | $477.86 | +4.3% | Aug 5, 2024 |
| Wolfe Research | Andy Chen | $576 | $476.91 | +9.2% | Aug 5, 2024 |
| H.C. Wainwright | Andrew Fein | $600 | $505.78 | +13.8% | Aug 2, 2024 |
| Argus Research | Jasper Hellweg | $550 | $474.61 | +4.3% | Jun 17, 2024 |
| RBC Capital | Brian Abrahams | $421 | $483.28 | -20.2% | Jun 11, 2024 |
| BMO Capital | Evan David Seigerman | $500 | $443.05 | -5.2% | May 31, 2024 |
| Raymond James | Christopher Raymond | $456 | $413.42 | -13.5% | May 7, 2024 |
| RBC Capital | Brian Abrahams | $424 | $402.5 | -19.6% | May 7, 2024 |
| H.C. Wainwright | Andrew Fein | $462 | $397.58 | -12.4% | Apr 11, 2024 |
| Evercore ISI | Liisa Bayko | $438 | $397.58 | -16.9% | Apr 11, 2024 |
| Morgan Stanley | Analyst unavailable | $285 | $297.18 | -45.9% | Feb 8, 2023 |
| H.C. Wainwright | Analyst unavailable | $326 | $308.54 | -38.2% | Feb 8, 2023 |
| Leerink Partners | Analyst unavailable | $365 | $308.54 | -30.8% | Feb 8, 2023 |
| Argus Research | Analyst unavailable | $340 | $310.86 | -35.5% | Nov 17, 2022 |
| Morgan Stanley | Analyst unavailable | $253 | $290.68 | -52.0% | Aug 8, 2022 |
| H.C. Wainwright | Analyst unavailable | $300 | $279.54 | -43.1% | Aug 5, 2022 |
| Cantor Fitzgerald | Olivia Brayer | $365 | $290.01 | -30.8% | Jul 12, 2022 |
| Stifel Nicolaus | Paul Matteis | $240 | $295.46 | -54.5% | Jul 11, 2022 |
| Argus Research | Jasper Hellweg | $280 | $287.32 | -46.9% | Jul 2, 2022 |
| Cowen & Co. | Analyst unavailable | $310 | $248.96 | -41.2% | Jun 13, 2022 |
| Morgan Stanley | Matthew Harrison | $250 | $261.96 | -52.6% | May 3, 2022 |
| Piper Sandler | Analyst unavailable | $249 | $279.02 | -52.8% | Apr 22, 2022 |
| Oppenheimer | Hartaj Singh | $350 | $272.39 | -33.6% | Apr 6, 2022 |
| Robert W. Baird | Brian Skorney | $240 | $251.88 | -54.5% | Mar 22, 2022 |
| BMO Capital | Evan Seigerman | $274 | $251.88 | -48.0% | Mar 22, 2022 |
| Jefferies | Michael Yee | $275 | $228.22 | -47.8% | Jan 27, 2022 |
| Wolfe Research | Andrew Galler | $282 | $228.22 | -46.5% | Jan 27, 2022 |
| J.P. Morgan | Cory Kasimov | $288 | $228.22 | -45.4% | Jan 27, 2022 |
| Morgan Stanley | Matthew Harrison | $208 | $228.22 | -60.5% | Jan 27, 2022 |
| Cowen & Co. | Phil Nadeau | $300 | $229.68 | -43.1% | Jan 24, 2022 |
| Leerink Partners | Geoff Porges | $175 | $204.45 | -66.8% | Dec 2, 2021 |
| Guggenheim | Debjit Chattopadhyay | $286 | $205 | -45.8% | Dec 1, 2021 |
| Bank of America Securities | Geoff Meacham | $275 | $181.4 | -47.8% | Nov 2, 2021 |
| Cantor Fitzgerald | Alethia Young | $281 | $193.02 | -46.7% | Jun 11, 2021 |
| Barclays | Gena Wang | $285 | $193.02 | -45.9% | Jun 11, 2021 |
| UBS | Colin Bristow | $279 | $212.68 | -47.1% | May 12, 2021 |
Track every rating change on VRTX the moment it posts. Free to start.
Start freeCompany context
Snapshot as of publicationVertex Pharmaceuticals Incorporated is a leading biotechnology firm primarily focused on the discovery, advancement, and marketing of innovative treatments, particularly for cystic fibrosis (CF). The company offers a range of approved medications for CF patients, including SYMDEKO/SYMKEVI, ORKAMBI, and KALYDECO, which target specific mutations within the cystic fibrosis transmembrane conductance regulator gene. Additionally, they provide TRIKAFTA for individuals with CF aged six years and older who possess at least one F508del mutation. Beyond its established CF therapies, Vertex maintains a robust and diverse clinical pipeline.…
Historical context
All VRTX earningsHealthcare peers this season
Latest reports in the same sector| Company | Quarter | EPS surprise | Market move | Headline |
|---|---|---|---|---|
| COO The Cooper Companies, Inc. | FY2026 Q3 · Calendar Q3 2026 | +2.7% | -14.7% | CooperCompanies beats expectations as inventory reduction weighs on vision revenue |
| MDT Medtronic plc | FY2027 Q1 · Calendar Q3 2026 | +4.3% | +1.5% | Medtronic raises FY27 outlook as growth broadens across platforms |
Latest beats and misses
Who reports nextBeat on EPS
- CCLFY2026 Q3 · September 29, 2026+5.9% EPS+13.4% move
- COSTFY2026 Q4 · September 24, 2026+3.2% EPS+2.9% move
- SNXFY2026 Q3 · September 24, 2026+20.9% EPS-9.9% move
- DRIFY2027 Q1 · September 24, 20260.0% EPS-3.0% move
- CTASFY2027 Q1 · September 23, 2026+3.0% EPS-3.4% move
- PAYXFY2027 Q1 · September 23, 2026+1.5% EPS-8.8% move
Get the VRTX recap when the next report posts
One email per quarter with the scorecard, the market reaction and what changed on the call. No account needed.
Sources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2026-07-26T00:36:15.940040+00:00
- Polygon adjusted daily market bars · 2026-09-30T13:46:07.576767+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-09-30T13:46:07.573887+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-09-30. For educational purposes only; not investment advice.