Needham & Company Discusses Vertex (VRTX) Phase 2 Trial of Ivacaftor in CF
- Aetna (AET) Nears Deal to Acquire Humana (HUM) - Reports
- Top 10 News for 6/29 - 7/2: Greece's Bark Bites Markets; Tesla's Q2 Sales Outpace; Major Insurance Merger Announced
- Yelp (YELP) Sale Process Said to Stall as CEO Changes Mind
- UPDATE: Nonfarm Payrolls Added 223K in June, Missing Views Amid Gains in Health Care, Retail Trade
- Kraft Heinz Co (KHC) Announces Completion of Merger; Updates on Next Steps; Announces Dividend
Needham & Company analyst Alan Carr weighed in on Vertex (NASDAQ: VRTX) following top-line results from a Phase 2 trial of ivacaftor in cystic fibrosis patients with residual function CFTR mutations.
"We note statistically significant, but modest absolute changes in FEV1 in the two-part trial (2.8% vs. 0.6% placebo [p=0.004] in 2-wk blinded Part 1 and 4.7% [p=0.0001] in 8-wk open-label Part 2)," Carr said. "Based on these results, the company plans to move forward with a Phase 3 trial after discussions with regulators around trial design. Results from the pivotal TRAFFIC and TRANSPORT trials are expected soon. These trials are testing ivacaftor/lumacaftor in homozygous F508del pts and are at the core of the company's CF strategy. We continue to expect a positive outcome and reiterate our BUY rating and $95 target."
Shares of Vertex closed at $72.96 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- FDA Announces Approval of Vertex Pharma's (VRTX) Orkambi to Treat Cystic Fibrosis
- Deutsche Bank Downgrades Peabody Energy (BTU) to Sell
- Canaccord Genuity Raised Price Target on KemPharm (KMPH) Ahead of KP201 Data
Create E-mail Alert Related CategoriesAnalyst Comments, FDA
Related EntitiesNeedham & Company
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!