In a report released today, Phil Nadeau from Cowen & Co. maintained a Buy rating on Vertex Pharmaceuticals (VRTX), with a price target of $220. The company’s shares opened today at $167.26.
According to TipRanks.com, Nadeau is a 4-star analyst with an average return of 5.3% and a 46.5% success rate. Nadeau covers the Healthcare sector, focusing on stocks such as BioMarin Pharmaceutical Inc., Phasebio Pharmaceuticals Inc, and Rhythm Pharmaceuticals Inc.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Vertex Pharmaceuticals with a $209.36 average price target, implying a 25.2% upside from current levels. In a report issued on May 20, Credit Suisse also initiated coverage with a Buy rating on the stock with a $209 price target.
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Vertex Pharmaceuticals’ market cap is currently $42.7B and has a P/E ratio of 20.07. The company has a Price to Book ratio of 9.04.
Based on the recent corporate insider activity of 114 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 and multiple sclerosis. The company was founded by Joshua S. Boger in 1989 and is headquartered in Boston, MA.
