Vertex Pharma (VRTX): Kalydeco Miss Is Not A Game Changer - Jefferies
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Jefferies analyst, Brian Abrahams, reiterated his Buy rating on shares of Vertex (NASDAQ: VRTX) after the company announced that '661/Kalydeco missed on its interim efficacy analysis in het/min CF patients.
Success would have created an opportunity to reach this large subpopulation with the dual combo and reaffirmed '661's activity (given its importance as a backbone for the triple). However, the analyst believes expectations were low, and the event does not change his overall positive CF franchise view.
No change to the price target of $107.
Shares of Vertex closed at $102.48 yesterday.
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