Thoughts On Vertex Pharma (VRTX) After Management Dinner With Cowen

Cowen analyst, Phil Nadeau, reiterated his Outperform rating on shares of Vertex (NASDAQ: VRTX) after hosting a dinner with VRTX's Chairman, President and CEO Jeff Leiden and Senior Vice President of Investor Relations Michael Partridge. With the first pivotal data from VRTX's cystic fibrosis triple regimens just a few months away management remains very optimistic that its portfolio of treatments is poised to dramatically improve the standard of care for nearly 90% of the people with CF worldwide.

The analyst stated "Vertex anticipates fast "Kalydeco-like" adoption for the triple regimens, with most eligible patients initiating treatment within 9 months. Based on the prospects for its CF franchise we expect Vertex will have an industry-leading revenue CAGR of 22% through 2022. Though ex-U.S. reimbursement of Orkambi has had its challenges, management is optimistic that nearly all countries, including the UK and France, will find a way to reimburse for therapies with the potential to meaningfully improve quality of life and lifespan". "Based on its prospects for long term growth Vertex is a top large cap pick".

price target of $200.00

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 $186.65 yesterday.

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