Vertex Pharma (VRTX) May Be Approaching An Estimate Inflection, Reit Outperform At Oppenheimer

Oppenheimer analyst, Hartaj Singh, reiterated his Outperform rating on shares of Vertex (NASDAQ: VRTX) ahead of the VX-445 phase 3 efficacy and the VX-659 phase 3 safety updates for Vertex's (VRTX) triplet cystic fibrosis (CF) regimens.

The analyst stated "we thought it important to highlight to the Street the potentially significant sales/earnings power for VRTX over the next 3-5 years. With a prior history of launches for monotherapy and doublet regimens in various CF mutations, it seems current OPCO and consensus expectations for 3-5 years sales/earnings growth are moderate. A strong hetmin F508del triplet launch, coupled with increased penetration into currently approved indications due to increased triplet efficacy could increase sales/earnings expectations by 10% to 20% for the 2021E/23E timeframe; with room for upside".

No change to the price target of $200.

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 $185.76 yesterday.

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