Vertex (VRTX) Orkambi 6-11 Launch Tracking Similar to Adult Launch - Jefferies
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Jefferies analyst Brian Abrahams reiterated a Buy rating and $102 price target on Vertex (NASDAQ: VRTX), saying Orkambi 6-11 launch tracking similar to adult launch.
Abrahams commented, "Based on our analysis of Rx trends, it looks like since label expansion Orkambi prescriptions are being written for 6-11 year olds at the same pace, relative to the number of homozygous CF pts in each age bracket, as it was for adults when it was first launched. Though there are some limitations to interpreting the data, overall we view this as a favorable in-line trend and continue to believe uptake and persistence in this group will be solid."
Shares of Vertex closed at $92.00 yesterday.
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