On August 4, Vertex Pharmaceuticals rose 3.05% in regular trading, trading at 480.71 USD/share, with turnover of $151 million. The rally was driven by the company's strong Q2 earnings report and an upward revision to full-year guidance.

Vertex reported Q2 adjusted EPS of $4.73, up 4.65% year-over-year, in line with analyst expectations of $4.74. Revenue reached $3.334 billion, up 12.5% year-over-year, beating the FactSet consensus estimate of $3.232 billion by approximately $100 million. More importantly, the company raised its full-year revenue guidance to $13.1 billion-$13.2 billion from the prior range of $12.95 billion-$13.1 billion, surpassing the Street estimate of $13.06 billion. Meanwhile, GAAP and non-GAAP R&D and SG&A expense guidance remained unchanged.

Following the results, Cantor Fitzgerald raised its price target to $595 from $590, maintaining an Overweight rating. Goldman Sachs had previously lifted its target to $652 with a Buy rating. The average analyst price target stands at $563.12 per FactSet.

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