Vertex announced financial results for the first quarter of 2025 less than those expected.
The company recorded an adjusted BPA of $ 4.06 for the quarter, against 4.76 dollars a year ago, which is lower than 4.32 dollars.
Vertex reported a turnover of $ 2.77 billion, less than a consensus of $ 2.85 billion.
Total turnover has increased by 3 %, mainly due to the continuous performance of Trikafta/Kaftrio and an early contribution from the American launch of Alyftrek.
- In the United States, total turnover increased by 9 % to $ 1.66 billion due to the high demand from patients and higher net price.
- Outside the United States, total turnover has decreased by 5 % to $ 1.11 billion, the high demand from patients in the established markets and new markets having been offset by the decline of the income provided in Russia, where Vetex is the subject of an infringement of its intellectual property rights.
Read also: Vetex puts an end to the development of his candidate processing diabetes type 1 following disappointing data
“Vertex recorded a good start in 2025 with a notable execution through the company while we develop and diversify the basis of our income, progress in many launches and advance in our R&D pipeline. We have continued to extend our leadership in cyclingia and develop a global momentum for casgevy, and launched daily in the context of the treatment of the moderate acute pain Severe, ”said Reshma Kewalramani, CEO and President of Vertex. “With several pivotal development programs, including povetacicept, which continues to progress quickly to achieve its pipeline potential in a product, and additional programs in early and intermediate development, Vertex is ready to continue to create value for years to come.”
Guidance : Vertex noted the low range of its total turnover forecasts of $ 100 million to $ 11.85 billion – $ 12 billion against $ 11.75 billion – $ 12 billion, compared to the $ 11.97 billion consensus.
Guidance also includes an impact of intangible cost of prices in 2025 on the basis of prices and regulations currently known.
-In 2025, Vertex temporarily suspended the part with multiple ascending doses of the phase 1/2 study of VX-522, a treatment of the nebulized CFTR mRNA.
William Blair Written: “Although the suspension is regrettable, we believe that the decision to suspend the study rather than interrupting it suggests that beyond the problem of tolerability, the management is encouraged by the data generated to date, since they are free access.”
Analyst Myles Minister writes: “Although we have noticed a slight decrease in total turnover, the company’s shares increased by 3 % in the grant of the scholarship, the management having noted the low range of total income forecasts, which suggests that the estimates of Wall Street have not fully taken into account the previously disclosed impacts of the unauthorized copy of Trikafta Russia. We would be buyers in the event of weakness here, because the cystic fibrosis processing franchise still represents one of the most stable long -term growth franchises, with a competitive advantage in the biotechnology sector. »»
Analysts’ reactions:
- Leerink Partners lowered the Vertex outlet of outperformance to perform on the market and reduced the target price from 550 to 503 dollars.
- Needham reiterates his advice to keep the title Vertex Pharmaceuticals.
- JP Morgan attributes to Vertex the score overlapping, by raising its course target, from 512 to 515 dollars.
Price movement: Tuesday, the action of Vertex closed down 9.91 % to 450.61 dollars.
Read more:
Photo via Shutterstock
