Needham & Company Maintains a 'Hold' on Vertex (VRTX); AASLD Meeting Update
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Price: $528.19 +2.45%
Rating Summary:
38 Buy, 7 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 7 | Down: 16 | New: 37
Rating Summary:
38 Buy, 7 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 7 | Down: 16 | New: 37
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Needham & Company maintains a 'Hold' on Vertex (NASDAQ: VRTX).
Needham analyst says, "Vertex presented additional data from its Incivek and VX-222 development programs and held an investor event at the AASLD meeting yesterday. Based on positive interim results from the ZENITH trial, Vertex announced over the weekend plans to initiate as many as three Phase 3 trials of Incivek in combination with VX-222/IFN/RBV. However, given the remarkable news flow around development of all-oral regimens at the meeting (i.e. Pharmasset [VRUS/NR] 7977/RBV results), Vertex management last night seemed to leave options open for next steps. Although Incivek/VX-222/IFN/RBV efficacy rate in the Phase 2 Zenith trial were high (~90%), the commercial landscape appears likely to be far more competitive with the potential entry of all-oral regimens by around the time VX-222 reaches the market. We await results of the all-oral Incivek/VX-222/RBV arm in early 2012."
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 $33.22 yesterday.
Needham analyst says, "Vertex presented additional data from its Incivek and VX-222 development programs and held an investor event at the AASLD meeting yesterday. Based on positive interim results from the ZENITH trial, Vertex announced over the weekend plans to initiate as many as three Phase 3 trials of Incivek in combination with VX-222/IFN/RBV. However, given the remarkable news flow around development of all-oral regimens at the meeting (i.e. Pharmasset [VRUS/NR] 7977/RBV results), Vertex management last night seemed to leave options open for next steps. Although Incivek/VX-222/IFN/RBV efficacy rate in the Phase 2 Zenith trial were high (~90%), the commercial landscape appears likely to be far more competitive with the potential entry of all-oral regimens by around the time VX-222 reaches the market. We await results of the all-oral Incivek/VX-222/RBV arm in early 2012."
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 $33.22 yesterday.
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