J.P. Morgan Issues a Buy Rating on Vertex Pharmaceuticals (VRTX)

By Jason Carr

In a report released yesterday, Cory Kasimov from J.P. Morgan assigned a Buy rating to Vertex Pharmaceuticals (VRTXResearch Report). The company’s shares closed last Monday at $226.49, close to its 52-week high of $233.26.

According to TipRanks.com, Kasimov is a 4-star analyst with an average return of 6.1% and a 47.0% success rate. Kasimov covers the Healthcare sector, focusing on stocks such as Ultragenyx Pharmaceutical, Global Blood Therapeutics, and Alexion Pharmaceuticals.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Vertex Pharmaceuticals with a $235.61 average price target, representing a 2.7% upside. In a report issued on January 6, Piper Sandler also maintained a Buy rating on the stock with a $284.00 price target.

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Vertex Pharmaceuticals’ market cap is currently $58.24B and has a P/E ratio of 27.45. The company has a Price to Book ratio of 11.09.

Based on the recent corporate insider activity of 119 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling 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.