Oppenheimer Releases a Buy Rating on Vertex Pharmaceuticals

By Carrie Williams

Oppenheimer analyst Hartaj Singh assigned a Buy rating to Vertex Pharmaceuticals (NASDAQ: VRTX) today. The company’s shares opened today at $151.40.

According to TipRanks.com, Singh is a 5-star analyst with an average return of 24.7% and a 54.5% success rate. Singh covers the Healthcare sector, focusing on stocks such as Strongbridge Biopharma Plc, Syndax Pharmaceuticals Inc, and Catabasis Pharmaceuticals.

Currently, the analyst consensus on Vertex Pharmaceuticals is Strong Buy and the average price target is $191.27, representing a 26.3% upside.

In a report issued on February 1, Maxim Group also assigned a Buy rating to the stock with a $195 price target.

Based on Vertex Pharmaceuticals’ latest earnings report for the quarter ending December 31, the company posted quarterly revenue of $652 million and quarterly net profit of $101 million. In comparison, last year the company earned revenue of $459 million and had a net profit of $32.95 million.

Based on the recent corporate insider activity of 123 insiders, corporate insider sentiment is negative on the stock.

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.