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Stock Alert: VRTX Trading Close To 52-Week High

Shares of Vertex Pharmaceuticals Inc. (VRTX) are trading close to the 52-week high of $249.00 it touched on February 11, 2020. The stock has been trading between $163.68 and $249.00 in the past one year, and closed Tuesday's trading session at $245.93, up $2.11 or 0.87%.

Recent Happening

On Jan. 30, the company reported GAAP net income of $583 million or $2.23 per share versus $1551 million or $5.97 per share last year.

On a non-GAAP basis, the company's net income for the fourth quarter of 2019 was $444 million or $1.70 per share on product revenue of $1.26 billion. Wall Street analysts then expected earnings of $1.20 per share and revenue of $1.01 billion.

For fiscal 2020, the company expects product revenue to range between $5.1 billion and $5.3 billion. Analysts then estimated revenue of $4.87 billion.

Commenting on the results, Reshma Kewalramani, Executive Vice President and Chief Medical Officer of the company said, "Entering 2020, Vertex has never been stronger. Going forward, our financial strength will enable us to continue to significantly invest in internal R&D and external innovation, which will provide access to new technologies, programs and expertise that will lead to further growth in the years ahead."

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