Vertex Pharmaceuticals
Develops cystic fibrosis medicines, gene-edited cell therapy, and non-opioid pain treatment.
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Profile
Develops and sells cystic fibrosis medicines led by TRIKAFTA/KAFTRIO and ALYFTREK, plus CASGEVY gene-edited cell therapy and JOURNAVX non-opioid acute-pain treatment. CF products still generate nearly all revenue, alongside a broader pipeline in kidney disease, pain, diabetes, and other serious conditions.
Develops and commercializes medicines for serious diseases, anchored by cystic fibrosis therapies. The CF portfolio spans TRIKAFTA/KAFTRIO, once-daily ALYFTREK, and earlier KALYDECO, ORKAMBI, and SYMDEKO/SYMKEVI, with sales across the U.S. and more than 60 countries.
Extends beyond CF through CASGEVY, an ex vivo CRISPR/Cas9 cell therapy for sickle cell disease and transfusion-dependent beta thalassemia, and JOURNAVX, a non-opioid pain-signal inhibitor for acute pain. Kidney disease, type 1 diabetes, neuropathic pain, myotonic dystrophy, and additional CF programs make up much of the clinical pipeline.
CF medicines still generate nearly all product revenue, while newer products remain early in launch. Access depends on regulatory approvals and reimbursement agreements across national markets, and commercial supply relies partly on third-party manufacturers.
Company facts
Categories
Key statistics
Year to date +19.8% · Average volume (30d) 1.2M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Rating | Prior target | Target |
|---|---|---|---|---|---|
| Aug 11, 2026 | Bernstein | Reiterate | Outperform | $572 | $608 |
| Aug 10, 2026 | Wolfe Research | Reiterate | Outperform | $576 | $562 |
| Aug 5, 2026 | Truist Financial | Target | $560 | $565 | |
| Aug 5, 2026 | Barclays | Reiterate | Overweight | $615 | $617 |
| Aug 4, 2026 | Cantor Fitzgerald | Reiterate | Overweight | $590 | $595 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 3, 2026Q2 FY26 | $4.74 | $4.73 | −0.2% | $3.23B | $3.33B | +3.2% | +1.70% |
| May 4, 2026Q1 FY26 | $4.24 | $4.47 | +5.4% | $2.99B | $2.99B | −0.2% | −1.28% |
| Feb 12, 2026Q4 FY25 | $5.11 | $5.03 | −1.6% | $3.18B | $3.19B | +0.2% | +5.69% |
| Nov 3, 2025Q3 FY25 | $4.57 | $4.80 | +5.0% | $3.06B | $3.08B | +0.6% | −1.02% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $2.77B | $2.96B | $3.08B | $3.23B | $2.99B | $3.33B | |
| Gross profit | $2.41B | $2.56B | $2.66B | $2.76B | $2.59B | $2.84B | |
| Operating income | $630.1M | $1.15B | $1.19B | $1.30B | $1.14B | $1.25B | |
| Net income | $646.3M | $1.03B | $1.08B | $1.19B | $1.03B | $1.10B | |
| Diluted EPS | $2.49 | $3.99 | $4.20 | $4.65 | $4.02 | $4.31 | |
| Gross margin | 86.9% | 86.3% | 86.5% | 85.6% | 86.8% | 85.3% | |
| Operating margin | 22.7% | 38.8% | 38.6% | 40.3% | 38.1% | 37.4% |
Fiscal years (4-quarter sums)FY21 $7.57B · FY22 $8.93B · FY23 $9.87B · FY24 $11.02B · FY25 $12.04B
Revenue by product · Q2 FY26
Revenue by geography · Q2 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $7.85B · Total debt $1.98B · Total assets $27.42B · Shareholders' equity $20.25B
Dividends
No dividends on record.
Ownership
A 13F quarter can total more than the shares outstanding — sub-advisers file the same block twice, and a filer's own share count can be a quarter stale. No split is drawn from it.
Shares outstanding 253.81M · Float 253.23M · 99.8% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| Capital World Investors | 26.12M | 10.29% | 13F | Aug 12, 2026 |
| BlackRock, Inc. | 24.11M | 9.50% | 13F | Aug 7, 2026 |
| Capital Research Global Investors | 19.49M | 7.68% | 13F | Aug 12, 2026 |
| Vanguard Capital Management LLC | 16.58M | 6.53% | 13F | Aug 13, 2026 |
| State Street Corp | 11.87M | 4.68% | 13F | Aug 7, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Jul 2, 2026 | Duncan McKechnie | officer: EVP, Chief Commercial Officer | −1,541 | $519.00 |
| Jul 2, 2026 | Ourania Tatsis | officer: EVP, Chief Reg. & Quality Off. | −1,500 | $524.99 |
| Jul 1, 2026 | Joy Liu | officer: EVP and Chief Legal Officer | −828 | $502.71 |
| Jun 26, 2026 | Carmen Bozic | officer: EVP and CMO | −596 | $482.50 |
| Jun 18, 2026 | Carmen Bozic | officer: EVP and CMO | −1,020 | $462.17 |
Peers
- Sionna Therapeutics
First-in-class NBD1 stabilizers challenging Vertex CF modulator dominance
- Eli Lilly
NaV1.8 non-opioid pain pipeline via SiteOne acquisition contests Journavx
- Regeneron
Rare-disease biopharma peer competing for pipeline, capital, and talent
- Beam Therapeutics
Base-editing platform for next-gen SCD/beta-thal gene therapy without DNA breaks
- Editas Medicine
AsCas12a gene-editing platform in Phase 1/2/3 trials for SCD and beta-thal
- Sana Biotechnology
iPSC-derived islet cell therapy targeting T1D cure without immunosuppression
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Vertex Pharmaceuticals | $540.78 | −0.17% | $137.48B | 31.5 | 27.8 | 10.9 | +12.5% |
| Sionna Therapeutics | $5.89 | +0.44% | $265.0M | — | — | — | — |
| Eli Lilly | $1,173.00 | −0.08% | $1.10T | 39.4 | 28.7 | 13.9 | +47.7% |
| Regeneron | $793.21 | −0.11% | $81.82B | 19.6 | 13.1 | 5.3 | +16.7% |
| Beam Therapeutics | $29.32 | +0.10% | $3.02B | — | — | 19.3 | −94.2% |
| Editas Medicine | $3.14 | −0.30% | $484.9M | — | — | 10.3 | +232.3% |
| Sana Biotechnology | $3.95 | +0.51% | $1.09B | — | — | — | — |
| Median | 29.5 | 20.9 | 12.1 | +32.2% |