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

After Oppenheimer and Wells Fargo gave Vertex Pharmaceuticals (NASDAQ: VRTX) a Buy rating last month, the company received another Buy, this time from Evercore ISI. Analyst Liisa Bayko maintained a Buy rating on Vertex Pharmaceuticals yesterday and set a price target of $278.00. The company’s shares closed last Tuesday at $269.11.

According to TipRanks.com, Bayko is a 4-star analyst with an average return of 5.6% and a 39.4% success rate. Bayko covers the Healthcare sector, focusing on stocks such as Ultragenyx Pharmaceutical, Madrigal Pharmaceuticals, and Kiniksa Pharmaceuticals.

Currently, the analyst consensus on Vertex Pharmaceuticals is a Moderate Buy with an average price target of $294.93, representing a 10.6% upside. In a report issued on April 18, Jefferies also maintained a Buy rating on the stock with a $335.00 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 $2.07 billion and net profit of $770 million. In comparison, last year the company earned revenue of $1.63 billion and had a net profit of $604 million.

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Based in Massachusetts and incorporated in 1989, Vertex Pharmaceuticals, Inc. is a biopharmaceutical company, which is engaged in the 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.

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