Brean Murray Carret & Co. Assumes Coverage & Downgrades Vertex (VRTX) to Hold
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Price: $79.49 +2.05%
Rating Summary:
17 Buy, 11 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Rating Summary:
17 Buy, 11 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Trade VRTX Now!
Brean Murray Carret & Co. (assumes coverage and) downgraded Vertex (NASDAQ: VRTX) to Hold.
Brean analyst said, "We are assuming coverage on Vertex following the Q1 earnings call and downgrading to a Hold rating based on valuation. We are assigning a $53 fair value estimate to the stock. Vertex is poised to launch telaprevir, branded as INCIVEK, in the U.S. this quarter. We believe the initial launch with be robust given what is already a multibillion WW market. However, we are cautious on the long-term market opportunity given the potential therapies that are safer and more efficacious and only 3-5 years away."
For more ratings news on Vertex click here and for the rating history of Vertex click here.
Shares of Vertex closed at $54.74 yesterday, with a 52 week range of $31.25-$56.70.
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Brean analyst said, "We are assuming coverage on Vertex following the Q1 earnings call and downgrading to a Hold rating based on valuation. We are assigning a $53 fair value estimate to the stock. Vertex is poised to launch telaprevir, branded as INCIVEK, in the U.S. this quarter. We believe the initial launch with be robust given what is already a multibillion WW market. However, we are cautious on the long-term market opportunity given the potential therapies that are safer and more efficacious and only 3-5 years away."
For more ratings news on Vertex click here and for the rating history of Vertex click here.
Shares of Vertex closed at $54.74 yesterday, with a 52 week range of $31.25-$56.70.
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