Vertex Pharma (VRTX): Recent Weakness Skews Risk/Reward To Favorable - Jefferies
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Jefferies analyst, Brian Abrahams, reiterated his Buy rating on shares of Vertex (NASDAQ: VRTX) on the belief that the recent Orkambi launch slowdown and concerns over a no next-gen corrector news are overdone.
The analyst believes that the share price does not fully reflect 1) the potential for cash flow expansion through 3x-combos which should ultimately work, 2) a leadership position and barrier to entry for future competitors, and 3) leverage even if there are stumbles.
The analyst perceives the upside/downside scenarios as favorably skewed at (~50%/13%), creating a highly attractive entry point.
price target of $105.00
Shares of Vertex closed at $80.50 yesterday.
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