UPDATE: Oppenheimer Starts Vertex (VRTX) at Perform
Get Alerts VRTX Hot Sheet
Rating Summary:
29 Buy, 11 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 10 | New: 10
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Oppenheimer initiated coverage on Vertex (NASDAQ: VRTX) with a Perform rating. Analyst Hartaj Singh sees shares as fairly valued.
"The company has a stellar sales/earnings growth trajectory over 3-5 years, but nearterm consensus Orkambi sales numbers need to come further down, before the stock can positively re-rate. The soft US Orkambi launch—an overhang in 2016—will potentially be replicated to a lesser extent in the EU in 2017, and we believe that Street total sales consensus of $2.2B is approximately $150-200M too high, while adjusted EPS (non-GAAP) needs to come down another 20% before near-term numbers stabilize. We are below the Street for both," said the analyst.
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 $78.33 yesterday.
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