Vertex Q2 Revenue Beats, Adjusted EPS Narrowly Misses, FY26 Revenue Guidance Raised

Vertex Pharmaceuticals (VRTX) reported Q2 2026 revenue of $3.33 billion, up 12.4% and ahead of the $3.22 billion consensus, while adjusted EPS of $4.73 came in just below the $4.75 estimate. Management raised full-year revenue guidance to $13.10-$13.20 billion. The pending Crinetics acquisition has not yet closed and is not in guidance.

VRTX delivered a mixed Q2 2026: revenue rose 12.4% year-over-year to $3.33 billion, beating the $3.22 billion consensus, while adjusted EPS of $4.73 came in fractionally below the $4.75 estimate. Management still raised full-year 2026 revenue guidance to $13.10 billion-$13.20 billion, pointing to continued momentum in the cystic fibrosis franchise.

Newer, non-CF products are scaling quickly. CASGEVY revenue rose 151% year-over-year to $76.4 million and JOURNAVX more than quadrupled to $49.6 million, signaling the pipeline diversification investors have been watching for.

The quarter also comes weeks after Vertex agreed to acquire CRNX (Crinetics Pharmaceuticals) for $10 billion in cash, its largest deal ever, paying $85 per share, roughly a 102% premium. The acquisition brings Crinetics' commercial drug Palsonify and the pipeline candidate atumelnant, assets Vertex estimates could generate more than $5 billion in combined peak annual revenue. The deal is expected to close in the third quarter and was not folded into the raised guidance.

Analysts have responded with fresh price targets, including a $1,500 target from BMO Capital Markets . What to watch: whether Crinetics integration proceeds smoothly given the debt-funded premium, and whether adjusted EPS growth catches up to the revenue trend in coming quarters.

Vertex Q2 Revenue Beats, Adjusted EPS Narrowly Misses, FY26 Revenue Guidance Raised

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