Vertex Pharmaceuticals Received its Third Buy in a Row

By Ryan Adsit

After Oppenheimer and Jefferies assigned a Buy rating to Vertex Pharmaceuticals in the last month, the company received another Buy, this time from Needham. Analyst Alan Carr upgraded Vertex Pharmaceuticals (NASDAQ: VRTX) to Buy today. The company’s shares closed yesterday at $135.53, close to its 52-week high of $137.26.

According to TipRanks.com, Carr is a 5-star analyst with an average return of 11.1% and a 48.9% success rate. Carr covers the Healthcare sector, focusing on stocks such as Biohaven Pharmaceutical Holding Co Ltd, Catalyst Biosciences Inc, and Lexicon Pharmaceuticals.

Currently, the analyst consensus on Vertex Pharmaceuticals is Moderate Buy and the average price target is $127.91, representing a -5.6% downside.

In a report issued on June 9, Jefferies also reiterated a Buy rating on the stock with a $126 price target.

The company has a one year high of $137.26 and a one year low of $71.46. Currently, Vertex Pharmaceuticals has an average volume of 2.05M.

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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.,000YJB-E