Cantor Fitzgerald analyst Alethia Young reiterated a Buy rating on Vertex Pharmaceuticals (VRTX) today and set a price target of $217. The company’s shares opened today at $169.64.
Young said:
“. Reiterate overweight and $217 price target. This morning, Vertex announced that CFO Tom Graney has resigned effective immediately. He joined 2017, so his tenure was relatively short.”
According to TipRanks.com, Young is a 4-star analyst with an average return of 3.9% and a 45.3% success rate. Young covers the Healthcare sector, focusing on stocks such as Sarepta Therapeutics, Puma Biotechnology, and Intercept Pharma.
Vertex Pharmaceuticals has an analyst consensus of Strong Buy, with a price target consensus of $207.67.
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Based on Vertex Pharmaceuticals’ latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of $129 million. In comparison, last year the company had a GAAP net loss of $103 million.
Based on the recent corporate insider activity of 122 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of VRTX in relation to earlier this year. Earlier this month, Bruce Sachs, a Director at VRTX bought 10,000 shares for a total of $342,400.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Vertex Pharmaceuticals, Inc. engages in the business of discovering, developing, manufacturing and commercializing small molecule drugs for patients with serious diseases. It focuses on development and commercializing therapies for the treatment of cystic fibrosis; infectious diseases, including viral infections, such as influenza, and bacterial infections; autoimmune diseases, such as rheumatoid arthritis; cancer, inflammatory bowel disease; and neurological disorders, including pain, Huntington’s disease and multiple sclerosis. The company was founded by Joshua S. Boger in 1989 and is headquartered in Boston, MA.
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