Vertex Pharma (VRTX): Cutting PT But Fundamentals Continue To Look Good - Jefferies

October 26, 2016 8:39 AM EDT
Get Alerts VRTX Hot Sheet
Price: $76.67 -0.71%

Rating Summary:
    25 Buy, 16 Hold, 0 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 21 | Down: 36 | New: 11
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Jefferies analyst, Brian Abrahams, reiterated his Buy rating on shares of Vertex (NASDAQ: VRTX) but cut his price target to $102 from $105 based on changes to the analyst's DCF.

For the quarter, numbers were in line, but 3Q was highlighted by both next-gen correctors, despite imperfect profiles, having adequate PK/PD, safety, and overall benefit/risk to advance to ph.II--removing a significant stock overhang. Between this and add'l correctors advancing, the analyst believes VRTX's robust CF drug discovery productivity and potential to expand the market opportunity and competitive positioning remains underappreciated in the stock price.

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 $78.71 yesterday.



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