Baird Remains Bullish on Vertex (VRTX) Post Adcom

Baird analyst Brian Skorney weighed in on Vertex (NASDAQ: VRTX) after today's FDA Adcom, recommending the approval of Orkambi. The firm remains bullish following the Adcom.

"We think the FDA advisory committee recommendation to approve Orkambi for CF patients homozygous for the F508del mutation will result in an approval of this combination therapy," Skorney said. "The FDA PUDFA date is July 5 and we expect approval on or before that date given what appeared to be a validated, clear cut benefit for patients."

The firm maintained an Outperform rating and price target of $131.00

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 $124.08 yesterday.

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