Why Has Stifel Nicolaus Given Vertex Pharmaceuticals (NASDAQ:VRTX) a $160.00 Price Target
Stifel Nicolaus has just issued a Buy rating for Vertex Pharmaceuticals (NASDAQ:VRTX) shares. The firm commenced coverage coverage on shares of VRTX in an analyst research report disseminated on Tuesday, 1 December. This price target could mean upside of 23.69% from the current price of Vertex Pharmaceuticals (NASDAQ:VRTX).
From a total of 19 analysts covering Vertex Pharmaceuticals (NASDAQ:VRTX) stock, 14 rate it a ”Buy”, 0 a “Sell”, and 8 a ”Hold”. This means that 64% of the ratings are positive. The highest target price is $180 while the lowest target price is $110. The mean of all analyst targets is $145.68 with a 12.49% above today’s ($129.36) stock price. Vertex Pharmaceuticals was the topic of 14 analyst reports since July 31, 2015 according to the firm StockzIntelligence Inc. Stifel Nicolaus initiated shares on December 1 with “Buy” rating. Jefferies initiated shares with “Hold” rating and $130 target share price in a report from a September 9. Argus Research upgraded VRTX stock in a recent report from September 28 to “Buy” rating. Vetr upgraded the rating on September 1. Vetr has a “Buy” rating and a $143.70 price target on shares. Finally, Barclays Capital upgraded the stock to “Overweight” rating in a report issued on a September 14.
The stock closed the day at $129.36 during the previous session. It is down 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 $32.70 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)