With earnings on tap for Oct. 27, IBD 50 member Vertex Pharmaceuticals (VRTX) is trading approximately 3-4% under a 306.05 buy point. The chart pattern is a first-stage flat base.
XBe aware that it's risky to buy any stock just before it reports. You can minimize your risk by waiting to see the actual numbers and the market's reaction. Using an options strategy during earnings season is another way to put yourself in a position to profit, while minimizing the potential downside.
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The company posted 2,018% earnings growth in the latest quarterly report. Revenue gains came in at 22%.
Analysts expect earnings-per-share growth of 1% for the quarter, and 41% growth for the full year.
Vertex Pharmaceuticals has a 99 Composite Rating and earns the No. 1 rank among its peers in the Medical-Biomed/Biotech industry group. Genmab (GMAB) also among the group's highest-rated stocks.
Note: Dates for earnings reports are subject to change. Check the company's website for any updates.
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