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

After Jefferies and Goldman Sachs gave Vertex Pharmaceuticals (NASDAQ: VRTX) a Buy rating last month, the company received another Buy, this time from Merrill Lynch. Analyst Geoff Meacham maintained a Buy rating on Vertex Pharmaceuticals yesterday and set a price target of $310.00. The company’s shares closed last Thursday at $281.16.

According to TipRanks.com, Meacham is a 5-star analyst with an average return of 9.6% and a 59.8% success rate. Meacham covers the Healthcare sector, focusing on stocks such as BioMarin Pharmaceutical, Homology Medicines, and Gilead Sciences.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Vertex Pharmaceuticals with a $312.83 average price target, implying a 13.7% upside from current levels. In a report issued on July 14, Jefferies also maintained a Buy rating on the stock with a $340.00 price target.

See today’s analyst top recommended stocks >>

Vertex Pharmaceuticals’ market cap is currently $72.27B and has a P/E ratio of 48.30. The company has a Price to Book ratio of 14.27.

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.