Vertex Pharmaceuticals (VRTX) Received its Third Buy in a Row

After RBC Capital and Morgan Stanley gave Vertex Pharmaceuticals (NASDAQ: VRTX) a Buy rating last month, the company received another Buy, this time from Barclays. Analyst Gena Wang maintained a Buy rating on Vertex Pharmaceuticals yesterday and set a price target of $280.00. The company’s shares closed last Thursday at $251.20.

According to TipRanks.com, Wang is a 5-star analyst with an average return of 19.6% and a 52.1% success rate. Wang covers the Healthcare sector, focusing on stocks such as BioMarin Pharmaceutical, Crispr Therapeutics AG, and Sarepta Therapeutics.

Currently, the analyst consensus on Vertex Pharmaceuticals is a Strong Buy with an average price target of $285.06, a 10.6% upside from current levels. In a report issued on April 15, Morgan Stanley also maintained a Buy rating on the stock with a $258.00 price target.

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Based on Vertex Pharmaceuticals’ latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $1.41 billion and net profit of $583 million. In comparison, last year the company earned revenue of $870 million and had a net profit of $1.55 billion.

Based on the recent corporate insider activity of 154 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.

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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.