Vertex Pharma Earnings: Net Income and Revenue Drop, Drags Shares

…Over the coming year, we expect to generate a significant amount of data from our key development programs in cystic fibrosis, hepatitis C and autoimmune diseases and to initiate important studies designed to bring additional transformative medicines to people with serious diseases, with a focus on specialty markets.”

Key Stats:

Revenue decreased 0.6% from $336.01 million in the previous quarter. Net income increased to $9 million in the quarter versus a net loss of $57.54 million in the previous quarter.

Looking Forward: Analysts have a more negative outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has fallen from a profit of $0.21 to a loss $0. For the current year, the average estimate has moved down from a profit of $0.6 to a loss of $0 over the last ninety days.

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(Company fundamentals provided by Xignite Financials.)