Barclays Defends Vertex (VRTX): A Few Concerns, But Making Moves In The Right Direction

Barclays maintains an 'Overweight' on Vertex (NASDAQ: VRTX) price target of $69.00.

Analyst, Ying Huang is out defending the company/stock, saying the despite the change in Chief Legal Officer and retirement of Chief Commercial Officer, Huang and Barclays remain bullish on the company's cystic fibrosis story.

However, Huang does not a few concerns, including: 1) Insider sales - five executives and 2 board members have been dumping shares; and 2) The revision of Kalydeco/VX-809 interim data. It's puzzling that nobody at the company caught the press release regarding the Phase IIb trial data before it went public (which sent shares up 55%), only to retract the dissemination and then issue revised data (sending shares down over 20%).

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 $56.98 yesterday.

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