Vertex Pharma (VRTX): Nivalis Setback Positive For Orkambi - BMO

November 29, 2016 7:56 AM EST
Get Alerts VRTX Hot Sheet
Price: $74.98 -4.02%

Rating Summary:
    25 Buy, 16 Hold, 0 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 20 | Down: 30 | New: 24
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BMO Capital analyst, Do Kim, reiterated his Market Perform rating on Vertex (NASDAQ: VRTX) price after the Phase II failure of Nivalis's cavosonstat should have a minimal direct impact on the company considering his view that cavosonstat is an add-on therapy to Vertex's drugs and not a direct competitor.

However, he also sees the trial miss as an incremental positive, as it highlights the difficulty of CF drug development and emphasizes the significant lead Vertex has over competitors. No change to the price target of $88.

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 $86.90 yesterday.



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