UPDATE: BMO Capital Starts Vertex (VRTX) at Market Perform

BMO Capital analyst Evan David Seigerman initiates coverage on Vertex (NASDAQ: VRTX) with a Market Perform rating and a price target of $202.00.

The analyst comments "We are initiating coverage of Vertex shares at Market Perform with a $202 target price, based on: 1) a well-modeled and appreciated cystic fibrosis franchise, with growth reflected in current valuation levels; 2) our view that, while likely impactful for patients, the opportunity and commercial ramp for CTX001 for sickle cell disease and beta thalassemia is smaller than current expectations; 3) a modest pipeline beyond CF (mostly early or lacking compelling clinical data); and 4) concerns that transformative business development (BD) is the only way to significantly change the narrative."

For an analyst ratings summary and ratings history on Vertex click here. For more ratings news on Vertex click here.

Shares of Vertex closed at $188.25 yesterday.

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