Canaccord Genuity Maintains a 'Hold' on Vertex (VRTX); Incivek Sales Peaking
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Price: $505.75 -2.07%
Rating Summary:
38 Buy, 7 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
38 Buy, 7 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Canaccord Genuity maintains a 'Hold' on Vertex (NASDAQ: VRTX) price target lowered from $50 to $43.
Canaccord analyst, George Farmer, said, "Despite a big Q3 top-line beat, we maintain our rating on signals that Incivek launch momentum may be waning and on high out-year competitive threats...We adjust our Q4/11 Incivek sales estimate to $568M from $403M and SG&A and R&D expense estimates in line with guided 2011 op-ex of $960-980M exCOGS/share comp/intangibles."
For more ratings news on Vertex click here and for the rating history of Vertex click here.
Shares of Vertex closed at $42.58 yesterday.
Canaccord analyst, George Farmer, said, "Despite a big Q3 top-line beat, we maintain our rating on signals that Incivek launch momentum may be waning and on high out-year competitive threats...We adjust our Q4/11 Incivek sales estimate to $568M from $403M and SG&A and R&D expense estimates in line with guided 2011 op-ex of $960-980M exCOGS/share comp/intangibles."
For more ratings news on Vertex click here and for the rating history of Vertex click here.
Shares of Vertex closed at $42.58 yesterday.
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