Vertex Pharma (VRTX): Reducing Estimates But See Upside To Lower Expectations - Jefferies

September 29, 2016 8:39 AM EDT
Get Alerts VRTX Hot Sheet
Price: $80.76 -2.6%

Rating Summary:
    28 Buy, 13 Hold, 0 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 14 | Down: 11 | New: 8
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Jefferies analyst, Brian Abrahams, reiterated his Buy rating on shares of Vertex (NASDAQ: VRTX) but cut his price target to $104 from $107 on recent commentary regarding Rx refill lags leading the company to formally reduce its '16 Orkambi guidance.

The Orkambi slowdown adds to concerns about perceived benefit/risk and increases dependence on '661 and the 3x combo. However, the analyst is confident that VRTX will grow the opportunity with these future offerings. Orkambi's 6-11yo CF approval, while widely expected, does at least opens door for some add'l Orkambi growth beyond 3Q.

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 $88.84 yesterday.

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