Vertex Pharmaceuticals Inc. (NASDAQ: VRTX) Price Target Increased at Stifel Nicolaus

Vertex Pharmaceuticals Inc. (NASDAQ: VRTX) had its price target boosted by equities researchers at Stifel Nicolaus from $105.00 to $109.00.Stifel Nicolaus currently has a rating of Buy on the stock. A number of other analysts have issued reports on the company recently, and the company has earned a consensus one-year price target of $110.11, higher than the opening price of $90.60, a difference of 11.83 percent. Vertex Pharmaceuticals Inc. stock has a 52-week high of $136.62.

U.S. stocks finished higher Thursday, near their intra-day highs.

The Dow Jones Industrial Average DJIA, +0.99% closed up 177.71 points, or 1%, at 18,212.48, led by a 3.4% surge in shares of Apple Inc. AAPL, +3.40%

All 30 of the Dow components finished in the green.

The S&P 500 index SPX, +1.01% wrapped up 21.49 points, or 1%, to 2,147.26, and all the large-cap gauge’s sectors ended higher, topped by a 1.7% rise in the tech sector and a 1.1% gain in health-care shares

Share prices sometimes get a bounce to the upside when analysts inititate coverage.

Shares of Vertex Pharmaceuticals Inc. (NASDAQ: VRTX) opened at $90.60 yesterday and traded in a range between, $89.35 and $94.43, and last traded at $93.10, which represents a change of $ 2.98 over the previous closing price.

Vertex Pharmaceuticals Inc. (NASDAQ: VRTX) currently has a market cap of 23.07B

The stocks average daily volume is 1,375,840 shares out of a total float 232,488,000 and some 2,575,963 shares traded hands yesterday, 12 percent higher than normal. Significant increases in trading volume and price appreciation together could signal heavy volume accumulation by institutional investors.

However, a single day of heavy buy side trading is not enough to assert a trend. As such, market traders will continue to watch for institutional sponsorship as a signal that financial institutions are moving forward.

Institutional sponsorship is defined by ownership of a stock by mutual funds, banks, pension funds and other large institutions.

Professional investors such as these retain substantial teams of analysts that research thousands of stocks. Thus, watching their interests is a good way to ensure you are buying the right stocks.

By tracking the activity of these professional investors—and the moving averages they affect—it allows for traders to make more effective decisions on trades.

With that in mind Vertex Pharmaceuticals Inc. (NASDAQ: VRTX) now has a 50-day MA is $97.91 and 200-day MA is $89.45, and it has traded in a 52-week range between $75.90 – 136.62 and today’s last price is -31.85 percent off the 52 week high of $136.62.

Indeed, earnings growth is among the most important things to look in regards to stock investing and, accordingly, investors seek companies who have been successful at growing their earnings by at least 25 percent over a 3 year period.

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of The Woodbridge Citizen. Readers should not consider statements made by the author as formal recommendations and should consult their financial adviser before making any investment decisions. To read our full disclosure, please see our terms and conditions page.

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