Canaccord Genuity Reiterates a 'Hold' on Vertex (VRTX); Continued View of Challenging Out-Year Competitive Landscape
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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 reiterates a 'Hold' on Vertex (NASDAQ: VRTX) price target of $33.00.
Canaccord analyst, George Farmer, said, "Sluggish Incivek retail prescription growth (-3% w/w growth for week ended 11/11/11, per third party audit data) is consistent with our expectation of impact from physician attendance at AASLD early November. Our recently lowered Q4 Incivek sales estimate of $494M, reflecting modest 18% q/q growth, recognizes this as well as expected deferment of new treatment starts until after the holiday season. We model for headwind ease in H112...Longer term, we anticipate significant threats to Incivek market share from competitive drugs under development in all-oral interferon-sparing regimens."
"We model for a steep decline of Incivek sales from $3.7B in 2014 to ~$500M in 2015, as a consequence of the first interferon-free regimens expected to hit the market."
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 $28.29 yesterday.
Canaccord analyst, George Farmer, said, "Sluggish Incivek retail prescription growth (-3% w/w growth for week ended 11/11/11, per third party audit data) is consistent with our expectation of impact from physician attendance at AASLD early November. Our recently lowered Q4 Incivek sales estimate of $494M, reflecting modest 18% q/q growth, recognizes this as well as expected deferment of new treatment starts until after the holiday season. We model for headwind ease in H112...Longer term, we anticipate significant threats to Incivek market share from competitive drugs under development in all-oral interferon-sparing regimens."
"We model for a steep decline of Incivek sales from $3.7B in 2014 to ~$500M in 2015, as a consequence of the first interferon-free regimens expected to hit the market."
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 $28.29 yesterday.
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