Needham & Company Upgrades Vertex (VRTX) to Buy; Positive Interim VX-809/Kalydeco Results; Large Market Opp
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Price: $78.40 -0.1%
Rating Summary:
17 Buy, 11 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Rating Summary:
17 Buy, 11 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Trade VRTX Now!
Needham & Company upgraded Vertex (NASDAQ: VRTX) from Hold to Buy with a price target of $65.00.
Analyst, Alan Carr, said, "Vertex reported positive results from an interim analysis of the Phase 2 VX-809/Kalydeco trial in CF patients with the F508del mutation yesterday. Roughly 30% of patients achieved clinically meaningful >10% absolute change in FEV1. Management plans to begin discussions with regulators around Phase 3 trial design soon. Although the complete VX-809 data set will not be available for ~2 months, we believe there is sufficient evidence to expect that Vertex may be able to meaningfully penetrate the large F508del CF population. The unmet need is profound and interest in an agent with strong efficacy--in even a subset of patients--is high."
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 $58.12 yesterday, with a 52 week range of $26.50-$58.87.
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Analyst, Alan Carr, said, "Vertex reported positive results from an interim analysis of the Phase 2 VX-809/Kalydeco trial in CF patients with the F508del mutation yesterday. Roughly 30% of patients achieved clinically meaningful >10% absolute change in FEV1. Management plans to begin discussions with regulators around Phase 3 trial design soon. Although the complete VX-809 data set will not be available for ~2 months, we believe there is sufficient evidence to expect that Vertex may be able to meaningfully penetrate the large F508del CF population. The unmet need is profound and interest in an agent with strong efficacy--in even a subset of patients--is high."
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 $58.12 yesterday, with a 52 week range of $26.50-$58.87.
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