Deutsche Bank Initiates Coverage on Vertex (VRTX) with a Buy
VRTX Hot Sheet
Rating Summary:12 Buy, 9 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 16 | Down: 7 | New: 23
Deutsche Bank initiates coverage on Vertex (Nasdaq: VRTX) with a Buy. Price target $39.
Deutsche analyst says, "We rate VRTX shares BUY as our valuation work suggests 20% upside by YE:10 after ph3 TVR data are released...C208 detailed data will be presented this weekend at the AASLD conference in Boston. This trial is important b/c (1) it incorporates several design elements of ongoing ph3 trials (response guided Rx/rash management) & (2) it helps elucidate the efficacy of a BID dosing regimen. Our research suggests SVR data for the TID regimen will surpass that seen in the PROVE ph 2 trials, which should bode well for phase 3 trials. In addition, we expect the BID regimen to look similar to the TID...We’ve built a detailed market model which we believe is fair as we make aggressive competition assumptions. Our peak 2014 estimates assume 60% share of the HCV genotype 1 market & a launch price of $41k/pt/year. We build in declines post 2015 as; 1) second generation protease inhibitors come to market & 2)the well of warehoused treatment-experienced patients “dry up”."
To see more analyst ratings on VRTX Click Here.
Vertex Pharmaceuticals Incorporated engages in the discovery, development, and commercialization of small molecule drugs for the treatment of serious diseases worldwide.
Deutsche analyst says, "We rate VRTX shares BUY as our valuation work suggests 20% upside by YE:10 after ph3 TVR data are released...C208 detailed data will be presented this weekend at the AASLD conference in Boston. This trial is important b/c (1) it incorporates several design elements of ongoing ph3 trials (response guided Rx/rash management) & (2) it helps elucidate the efficacy of a BID dosing regimen. Our research suggests SVR data for the TID regimen will surpass that seen in the PROVE ph 2 trials, which should bode well for phase 3 trials. In addition, we expect the BID regimen to look similar to the TID...We’ve built a detailed market model which we believe is fair as we make aggressive competition assumptions. Our peak 2014 estimates assume 60% share of the HCV genotype 1 market & a launch price of $41k/pt/year. We build in declines post 2015 as; 1) second generation protease inhibitors come to market & 2)the well of warehoused treatment-experienced patients “dry up”."
To see more analyst ratings on VRTX Click Here.
Vertex Pharmaceuticals Incorporated engages in the discovery, development, and commercialization of small molecule drugs for the treatment of serious diseases worldwide.
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