Cowen & Co. analyst Phil Nadeau maintained a Buy rating on Vertex Pharmaceuticals (VRTX) on November 27 and set a price target of $200. The company’s shares closed yesterday at $180.79.
According to TipRanks.com, Nadeau is a 4-star analyst with an average return of 6.7% and a 49.6% success rate. Nadeau covers the Healthcare sector, focusing on stocks such as Phasebio Pharmaceuticals Inc, Rhythm Pharmaceuticals Inc, and Rocket Pharmaceuticals Inc.
Currently, the analyst consensus on Vertex Pharmaceuticals is a Strong Buy with an average price target of $207.67, representing a 14.9% upside. In a report issued on November 26, Barclays also maintained a Buy rating on the stock with a $200 price target.
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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 120 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.
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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