Deutsche Bank Positive on Vertex Pharma (VRTX) Kalydeco Panel Docs

Deutsche Bank maintained a Buy rating on Vertex (NASDAQ: VRTX) with a price target of $127. Comments follow posting of FDA Kalydeco panel docs (link) for its October 21st meeting. Analyst Robyn Karnauskas thinks questions are positive and may suggest a label broader than 18+ years.

"Questions suggest that the potential label may be broader than 18+ years, and could include pts 6+ years. R117H CF is a high unmet need. We believe that doctors and patients under 18 years will want the drug, hence why they will be exploring it in this panel.," said Karnauskas.

"We currently assume that 50% of the R117H population is 18+, assuming 80% of the R117H population is now eligible adds ~$1/sh to our DCF, 100% adds $2/sh to our DCF," she added.

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 $101.26 yesterday.

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