BMO Capital Reiterates Outperform Rating on Vertex (VRTX)

BMO Capital analyst Evan David Seigerman reiterated an Outperform rating and $600.00 price target on Vertex (NASDAQ: VRTX).

The analyst commented: "On to the Next–Crinetics Takeout to Position VRTX as Player in Endocrine Space; We caught up with Vertex CEO Dr. Reshma Kewalramani, CFO Charles Wagner, and CCO Duncan McKechnie to better understand motivations behind today's Crinetics deal. With a vast pipeline and existing moats in pain/CF, expansion into endocrinology could prompt investors to ask why and why now? Management emphasized that the deal fits well within their proactive strategy of prioritizing value-generating opportunities with potential for durable growth. All in, we like the deal where lead Crinetics assets, Palsonify and atumelnant, could present ~$5B in peak revenues and first-in-class/best-in-class opportunities for Vertex."

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 $529.59 yesterday.

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