Why Has Stifel Given Vertex Pharma (NASDAQ:VRTX) a $160 Price Target
Stifel revealed to clients in an interesting analyst report that it commenced coverage coverage on Vertex Pharma (NASDAQ:VRTX) stock, with “Buy” rating and a $160 target.
From a total of 6 analysts covering Vertex Pharmaceuticals (NASDAQ:VRTX) stock, 5 rate it a ”Buy”, 0 a “Sell”, and 1 a ”Hold”. This means that 83% of the ratings are positive. The highest target price is $155 while the lowest target price is $126. The mean of all analyst targets is $143.71 with a 11.09% above today’s ($129.36) stock price. Vertex Pharmaceuticals was the topic of 13 analyst reports since July 31, 2015 according to the firm StockzIntelligence Inc. H.C. Wainwright upgraded shares on October 30 to “Buy” rating. Vetr upgraded shares to “Buy” rating and $143.70 target share price in a report from a September 1. Nomura initiated VRTX stock in a recent report from September 16 with “Buy” rating. Finally, Jefferies initiated the stock with “Hold” rating in a report issued on a September 9.
The stock decreased 2.78% or $3.7 during the last trading session, striking $129.36. Approximately shares of stock traded hands. Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) has risen 3.10% since April 28, 2015 and is uptrending. It has outperformed by 4.72% the S&P500.
Vertex Pharmaceuticals Incorporated is a global biotechnology company. The company has a market cap of $32.52 billion. The Firm is engaged in the business of discovering, developing, manufacturing and commercializing small molecule drugs. It currently has negative earnings. The Firm uses precision medicine approaches to create transformative drugs for patients with serious diseases in specialty markets.
According to Zacks Investment Research, “Vertex Pharmaceuticals Inc. discovers, develops and markets small molecule drugs that address major unmet medical needs. The company has eight drug candidates in clinical development to treat viral diseases, inflammation, cancer, autoimmune diseases and neurological disorders. Vertex has created its pipeline using a proprietary information-based approach to drug design that integrates multiple technologies in biology, chemistry and biophysics aimed at increasing the speed and success rate of drug discovery. (PRESS RELEASE)” Get a free copy of the Zacks research report on Vertex Pharmaceuticals Incorporated (VRTX)