Vertex Pharma (VRTX): Updating Estimates But No PT Change - Baird
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Baird analyst, Brian Skorney, reiterated his Outperform rating on shares of Vertex (NASDAQ: VRTX) after tweaking estimates. Kalydeco and Orkambi sales estimates changed with of third-quarter financial results.
There do not appear to be growth drivers for Kalydeco outside of a longshot approval in residual function mutations and the analyst is taking Kalydeco sales down modestly. However, Orkambi sales could be helped by expansion in France, which is not factored into reported sales numbers.
The net is an unchanged price target at $115.
Shares of Vertex closed at $86.90 yesterday.
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