Vertex Pharmaceuticals (VRTX) Receives a Buy from J.P. Morgan

By Ryan Adsit

J.P. Morgan analyst Cory Kasimov maintained a Buy rating on Vertex Pharmaceuticals (VRTXResearch Report) yesterday and set a price target of $209. The company’s shares closed yesterday at $168.98.

According to, Kasimov is a 2-star analyst with an average return of 0.2% and a 40.1% success rate. Kasimov covers the Healthcare sector, focusing on stocks such as Ultragenyx Pharmaceutical, Inc., BioMarin Pharmaceutical Inc., and ACADIA Pharmaceuticals Inc.

Currently, the analyst consensus on Vertex Pharmaceuticals is a Strong Buy with an average price target of $209.31, implying a 23.9% upside from current levels. In a report released yesterday, Cowen & Co. also maintained a Buy rating on the stock with a $220 price target.

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Vertex Pharmaceuticals’ market cap is currently $43.12B and has a P/E ratio of 20.91. The company has a Price to Book ratio of 9.72.

Based on the recent corporate insider activity of 107 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of VRTX in relation to earlier this year.

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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 and multiple sclerosis. The company was founded by Joshua S. Boger in 1989 and is headquartered in Boston, MA.