Vertex shares jump as firm raises revenue guidance

US biopharma Vertex Pharmaceuticals (Nasdaq: VRTX) recorded product revenues of $1.98 billion in the third quarter of 2021, the firm’s latest financial results show.

This marks a 29% increase on the same period of 2020 and has prompted the company to raise its full-year 2021 guidance for product revenues. Vertex now expects this figure to be between $7.4 billion and $7.5 billion, rather than the previous $7.2 billion to $7.4 billion range.

The quarterly revenue figure surpassed the Zacks Consensus Estimate by 7.21%, while Vertex’s quarterly earnings figure of $3.56 per share also beat the analysts’ forecast for $3.12 per share.