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About

Vertex Pharmaceuticals Incorporated operates as a biotechnology company in the United States, Europe, and internationally. The company offers transformative medicines for people with serious diseases with a focus on specialty markets, such as cystic fibrosis (CF), sickle cell disease (SCD), transfusion dependent beta thalassemia (TDT), and acute pain. It markets TRIKAFTA/KAFTRIO for people with CF with at least one F508del mutation for 2 years of age and older; ALYFTREK for the treatment for people with CF 6 years of age and older; SYMDEKO/SYMKEVI for treatment of patients with CF 6 years of age and older; ORKAMBI for CF patients 1 year or older; and KALYDECO for the treatment of patients with 1 month or older who have CF with ivacaftor. The company also develops CASGEVY for the treatment of SCD and TDT; JOURNAVX for the treatment of acute pain in adults; VX-522, a CFTR mRNA therapeutic designed to treat the underlying cause of CF, which is in Phase 1/2 clinical trial; inaxaplin for the treatment of APOL1-mediated kidney disease, which is in single Phase 2 trial; VX-264 for treating Type 1 Diabetes; VX-670 for the treatment of myotonic dystrophy type 1; and VX-407, a small molecule corrector for the treatment of autosomal dominant polycystic kidney disease. The company sells its products primarily to specialty pharmacy and distributors, wholesalers, retail pharmacies, hospitals, and clinics. Vertex Pharmaceuticals Incorporated was founded in 1989 and is headquartered in Boston, Massachusetts.

Fundamentals
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Sector Healthcare Industry Biotechnology Market Cap 117.08B
Enterprise Value 112.50B Income 3.95B Sales 12.00B
Book/sh 73.49 Cash/sh 26.01 Dividend Yield —
Payout 0.00% Employees 6400 IPO —
P/E 30.12 Forward P/E 21.08 PEG —
P/S 9.75 P/B 6.27 P/C —
EV/EBITDA 23.12 EV/Sales 9.37 Quick Ratio 2.24
Current Ratio 2.90 Debt/Eq 10.91 LT Debt/Eq —
EPS (ttm) 15.30 EPS next Y 21.87 EPS Growth 32.90%
Revenue Growth 9.50% Earnings 2026-05-04 ROA 12.16%
ROE 22.54% ROIC — Gross Margin 53.66%
Oper. Margin 39.60% Profit Margin 32.94% Shs Outstand 254.03M
Shs Float 253.28M Short Float 1.98% Short Ratio 2.78
Short Interest — 52W High 519.68 52W Low 362.50
Beta 0.32 Avg Volume 1.42M Volume 1.18M
Target Price $538.11 Recom Buy Prev Close $456.69
Price $460.87 Change 0.92%
Valuation Models

Price estimates from analyst targets and simple models.

1. Analyst consensus
$538.11
Mean price target
2. Current target
$460.87
Latest analyst target
3. DCF / Fair value
$182.32
Simplified: (Free Cash Flow ÷ Shares) × 18 (P/FCF multiple). Not a …
Ratings
Current target
$460.87
Low
$330.00
High
$641.00
Mean
$538.11

Latest analyst rating changes

Date Action Analyst Rating Change Price Target
2026-02-17 main Canaccord Genuity Hold → Hold $441
2026-02-17 main Barclays Overweight → Overweight $607
2026-02-17 main HC Wainwright & Co. Buy → Buy $591
2026-02-13 main Scotiabank Sector Perform → Sector Perform $558
2026-02-13 main RBC Capital Outperform → Outperform $541
2026-02-13 main Stifel Hold → Hold $466
2026-02-13 up Oppenheimer Perform → Outperform $540
2026-02-13 main HC Wainwright & Co. Buy → Buy $518
2026-01-28 up Barclays Equal-Weight → Overweight $606
2026-01-26 main UBS Buy → Buy $545
2026-01-23 main Evercore ISI Group Outperform → Outperform $530
2026-01-22 up RBC Capital Sector Perform → Outperform $546
2026-01-12 up Bernstein Market Perform → Outperform —
2026-01-06 up Wolfe Research Peer Perform → Outperform $548
2025-12-29 main Leerink Partners Outperform → Outperform $525
2025-12-10 main Wells Fargo Overweight → Overweight $515
2025-12-05 main Morgan Stanley Overweight → Overweight $564
2025-12-03 up Morgan Stanley Equal-Weight → Overweight $516
2025-11-07 main UBS Buy → Buy $546
2025-11-04 main RBC Capital Sector Perform → Sector Perform $415
Insider Transactions
Date Shares Value Url Text Insider Position Transaction Start Date Ownership
0 2437 1158306 — Sale at price 475.30 per share. MCKECHNIE DUNCAN Officer — 2026-03-04 00:00:00 D
1 892 442396 — Sale at price 495.96 per share. LIU JOY Officer — 2026-03-02 00:00:00 D
2 2329 1118642 — Sale at price 480.31 per share. BOZIC CARMEN Officer — 2026-02-27 00:00:00 D
3 40000 19738855 — Sale at price 479.75 - 496.95 per share. KEWALRAMANI RESHMA Chief Executive Officer — 2026-02-27 00:00:00 D
4 357 172560 — Sale at price 483.36 per share. AMBROSE KRISTEN Officer — 2026-02-26 00:00:00 D
5 668 324882 — Sale at price 486.35 per share. ATKINSON EDWARD MORROW III Chief Technology Officer — 2026-02-25 00:00:00 D
6 4910 2394365 — Sale at price 486.35 - 489.00 per share. MCKECHNIE DUNCAN Officer — 2026-02-25 00:00:00 D
7 620 301537 — Sale at price 486.35 per share. BUNNAGE MARK E. Officer — 2026-02-25 00:00:00 D
8 223 108456 — Sale at price 486.35 per share. AMBROSE KRISTEN Officer — 2026-02-25 00:00:00 D
9 260 126451 — Sale at price 486.35 per share. TATSIS OURANIA Officer — 2026-02-25 00:00:00 D
Financials
Line Item2025-12-312024-12-312023-12-312022-12-31
TaxEffectOfUnusualItems-56.63M105.00K8.98M12.36M
TaxRateForCalcs0.150.210.170.21
NormalizedEBITDA5.25B485.80M4.55B4.38B
TotalUnusualItems-381.10M500.00K51.60M57.50M
TotalUnusualItemsExcludingGoodwill-381.10M500.00K51.60M57.50M
NetIncomeFromContinuingOperationNetMinorityInterest3.95B-535.60M3.62B3.32B
ReconciledDepreciation209.80M207.20M181.30M148.30M
ReconciledCostOfRevenue1.65B1.53B1.26B1.08B
EBITDA4.87B486.30M4.61B4.44B
EBIT4.66B279.10M4.42B4.29B
NetInterestIncome477.60M567.50M570.60M89.80M
InterestExpense13.30M30.60M44.10M54.80M
InterestIncome490.90M598.10M614.70M144.60M
NormalizedIncome4.28B-536.00M3.58B3.28B
NetIncomeFromContinuingAndDiscontinuedOperation3.95B-535.60M3.62B3.32B
TotalExpenses7.45B11.25B6.09B4.68B
TotalOperatingIncomeAsReported4.17B-232.90M3.83B4.31B
DilutedAverageShares258.00M257.90M260.50M259.10M
BasicAverageShares255.70M257.90M257.70M256.10M
DilutedEPS15.32-2.0813.8912.82
BasicEPS15.46-2.0814.0512.97
DilutedNIAvailtoComStockholders3.95B-535.60M3.62B3.32B
NetIncomeCommonStockholders3.95B-535.60M3.62B3.32B
NetIncome3.95B-535.60M3.62B3.32B
NetIncomeIncludingNoncontrollingInterests3.95B-535.60M3.62B3.32B
NetIncomeContinuousOperations3.95B-535.60M3.62B3.32B
TaxProvision690.00M784.10M760.20M910.40M
PretaxIncome4.64B248.50M4.38B4.23B
OtherIncomeExpense-388.80M-85.60M28.80M-107.30M
OtherNonOperatingIncomeExpenses-7.70M-86.10M-22.80M-164.80M
SpecialIncomeCharges-381.10M500.00K51.60M57.50M
OtherSpecialCharges4.63B527.10M115.50M1.11B
ImpairmentOfCapitalAssets379.00M0.000.00
RestructuringAndMergernAcquisition2.10M-500.00K-51.60M-57.50M
NetNonOperatingInterestIncomeExpense477.60M567.50M570.60M89.80M
InterestExpenseNonOperating13.30M30.60M44.10M54.80M
InterestIncomeNonOperating490.90M598.10M614.70M144.60M
OperatingIncome4.55B-233.40M3.78B4.25B
OperatingExpense5.80B9.72B4.83B3.60B
ResearchAndDevelopment4.04B8.26B3.69B2.66B
SellingGeneralAndAdministration1.75B1.46B1.14B944.70M
GrossProfit10.35B9.49B8.61B7.85B
CostOfRevenue1.65B1.53B1.26B1.08B
TotalRevenue12.00B11.02B9.87B8.93B
OperatingRevenue11.97B11.02B9.87B8.93B
Line Item2023-12-312022-12-31
TreasurySharesNumber0.000.00
OrdinarySharesNumber253.99M256.94M257.70M257.01M
ShareIssued253.99M256.94M257.70M257.01M
TotalDebt2.03B1.74B808.40M899.70M
TangibleBookValue17.15B14.50B15.65B12.22B
InvestedCapital18.67B16.41B17.58B13.91B
WorkingCapital7.34B6.03B10.60B10.49B
NetTangibleAssets17.15B14.50B15.65B12.22B
CapitalLeaseObligations2.03B1.74B808.40M899.70M
CommonStockEquity18.67B16.41B17.58B13.91B
TotalCapitalization18.67B16.41B17.58B13.91B
TotalEquityGrossMinorityInterest18.67B16.41B17.58B13.91B
StockholdersEquity18.67B16.41B17.58B13.91B
GainsLossesNotAffectingRetainedEarnings-15.90M127.80M-14.30M800.00K
OtherEquityAdjustments-15.90M127.80M-14.30M800.00K
RetainedEarnings13.56B9.61B10.14B6.52B
AdditionalPaidInCapital5.12B6.67B7.45B7.39B
CapitalStock2.50M2.60M2.60M2.60M
CommonStock2.50M2.60M2.60M2.60M
PreferredStock0.000.000.000.00
TotalLiabilitiesNetMinorityInterest6.98B6.12B5.15B4.24B
TotalNonCurrentLiabilitiesNetMinorityInterest3.12B2.56B1.60B1.50B
OtherNonCurrentLiabilities267.40M203.20M196.30M233.00M
TradeandOtherPayablesNonCurrent895.40M698.60M681.40M452.80M
LongTermDebtAndCapitalLeaseObligation1.95B1.66B724.70M810.30M
LongTermCapitalLeaseObligation1.95B1.66B724.70M810.30M
CurrentLiabilities3.86B3.56B3.55B2.74B
OtherCurrentLiabilities127.70M36.60M50.70M62.50M
CurrentDeferredLiabilities171.80M206.80M170.30M159.60M
CurrentDeferredRevenue171.80M206.80M170.30M159.60M
CurrentDebtAndCapitalLeaseObligation77.30M87.10M83.70M89.40M
CurrentCapitalLeaseObligation77.30M87.10M83.70M89.40M
PayablesAndAccruedExpenses3.48B3.23B3.24B2.43B
CurrentAccruedExpenses2.59B2.36B2.32B1.79B
Payables893.00M877.60M924.50M642.20M
OtherPayable328.20M303.50M460.10M215.00M
TotalTaxPayable103.10M161.10M99.50M123.30M
AccountsPayable461.70M413.00M364.90M303.90M
TotalAssets25.64B22.53B22.73B18.15B
TotalNonCurrentAssets14.44B12.94B8.59B4.92B
OtherNonCurrentAssets1.24B999.30M895.30M409.60M
NonCurrentDeferredAssets2.90B2.33B1.81B1.25B
NonCurrentDeferredTaxesAssets2.90B2.33B1.81B1.25B
InvestmentsAndAdvances5.71B5.11B2.50B112.20M
InvestmentinFinancialAssets5.71B5.11B2.50B112.20M
AvailableForSaleSecurities5.71B5.11B2.50B112.20M
GoodwillAndOtherIntangibleAssets1.51B1.91B1.93B1.69B
OtherIntangibleAssets424.20M825.90M839.90M603.60M
Goodwill1.09B1.09B1.09B1.09B
NetPPE3.08B2.58B1.45B1.46B
AccumulatedDepreciation-1.20B-1.06B-1.19B-1.03B
GrossPPE4.29B3.65B2.64B2.48B
Leases1.01B737.60M474.60M410.90M
OtherProperties1.56B1.36B293.60M347.40M
MachineryFurnitureEquipment1.20B1.06B911.90M788.60M
BuildingsAndImprovements483.80M461.20M928.60M903.10M
LandAndImprovements33.10M33.10M33.10M33.10M
Properties0.000.000.000.00
CurrentAssets11.20B9.60B14.14B13.23B
OtherCurrentAssets110.90M76.40M84.30M74.40M
HedgingAssetsCurrent6.20M130.10M1.80M47.50M
PrepaidAssets736.20M459.20M537.60M431.60M
Inventory1.69B1.21B738.80M460.60M
FinishedGoods230.10M184.60M135.00M161.80M
WorkInProcess1.20B768.80M525.10M260.70M
RawMaterials259.80M252.00M78.70M38.10M
Receivables2.05B1.61B1.56B1.44B
AccountsReceivable2.05B1.61B1.56B1.44B
CashCashEquivalentsAndShortTermInvestments6.61B6.12B11.22B10.78B
OtherShortTermInvestments1.52B1.55B849.20M274.50M
CashAndCashEquivalents5.08B4.57B10.37B10.50B
Line Item2025-12-312024-12-312023-12-312022-12-31
FreeCashFlow3.19B-978.00M3.28B3.93B
RepurchaseOfCapitalStock-2.39B-1.58B-653.70M-172.00M
RepaymentOfDebt-5.40M-33.60M-44.90M-85.50M
IssuanceOfDebt1.80M0.0028.30M
CapitalExpenditure-437.60M-485.40M-258.40M-204.70M
InterestPaidSupplementalData12.40M30.50M43.10M52.30M
IncomeTaxPaidSupplementalData1.57B1.08B1.68B1.06B
EndCashPosition5.09B4.57B10.37B10.51B
BeginningCashPosition4.57B10.37B10.51B6.80B
EffectOfExchangeRateChanges90.90M-42.60M26.90M-29.20M
ChangesInCash424.70M-5.76B-166.60M3.74B
FinancingCashFlow-2.26B-1.49B-562.20M-67.70M
CashFlowFromContinuingFinancingActivities-2.26B-1.49B-562.20M-67.70M
NetOtherFinancingCharges3.70M6.20M1.80M3.50M
ProceedsFromStockOptionExercised127.70M114.60M134.60M186.30M
NetCommonStockIssuance-2.39B-1.58B-653.70M-172.00M
CommonStockPayments-2.39B-1.58B-653.70M-172.00M
NetIssuancePaymentsOfDebt-5.40M-33.60M-44.90M-85.50M
NetLongTermDebtIssuance-5.40M-33.60M-44.90M-85.50M
LongTermDebtPayments-5.40M-33.60M-44.90M-85.50M
LongTermDebtIssuance1.80M0.0028.30M
InvestingCashFlow-945.40M-3.77B-3.14B-321.10M
CashFlowFromContinuingInvestingActivities-945.40M-3.77B-3.14B-321.10M
NetOtherInvestingChanges-24.70M-54.00M-31.00M-47.80M
NetInvestmentPurchaseAndSale-483.10M-3.23B-2.85B227.30M
SaleOfInvestment5.91B4.47B934.20M920.00M
PurchaseOfInvestment-6.40B-7.70B-3.79B-692.70M
NetBusinessPurchaseAndSale0.000.00-295.90M0.00
PurchaseOfBusiness0.000.00-295.90M0.00
NetIntangiblesPurchaseAndSale0.00-187.70M-58.00M0.00
PurchaseOfIntangibles0.00-187.70M-58.00M0.00
NetPPEPurchaseAndSale-437.60M-297.70M-200.40M-204.70M
PurchaseOfPPE-437.60M-297.70M-200.40M-204.70M
OperatingCashFlow3.63B-492.60M3.54B4.13B
CashFlowFromContinuingOperatingActivities3.63B-492.60M3.54B4.13B
ChangeInWorkingCapital-1.20B-514.80M-265.70M340.80M
ChangeInOtherCurrentLiabilities148.50M39.70M208.90M498.90M
ChangeInPayablesAndAccruedExpense-80.10M262.40M478.10M663.30M
ChangeInAccruedExpense-116.90M212.90M429.40M542.50M
ChangeInPayable36.80M49.50M48.70M120.80M
ChangeInAccountPayable36.80M49.50M48.70M120.80M
ChangeInPrepaidAssets-396.00M-200.30M-545.70M-326.40M
ChangeInInventory-524.20M-517.30M-322.90M-136.40M
ChangeInReceivables-347.30M-99.30M-84.10M-358.60M
ChangesInAccountReceivables-347.30M-99.30M-84.10M-358.60M
OtherNonCashItems113.40M900.00K-42.60M-45.70M
StockBasedCompensation685.90M698.50M581.20M491.30M
AssetImpairmentCharge379.00M0.000.00
DeferredTax-510.80M-348.80M-536.50M-275.90M
DeferredIncomeTax-510.80M-348.80M-536.50M-275.90M
DepreciationAmortizationDepletion209.80M207.20M181.30M148.30M
DepreciationAndAmortization209.80M207.20M181.30M148.30M
Depreciation148.30M125.60M
OperatingGainsLosses57.70M600.00K149.10M-17.10M
GainLossOnInvestmentSecurities57.70M600.00K149.10M-17.10M
NetIncomeFromContinuingOperations3.95B-535.60M3.62B3.32B
SEC Filings

Recent 10-K, 10-Q, 8-K, and Form 4 (insider) filings.

Public Trades for VRTX
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