Barclays Maintains an 'Overweight' on Vertex (VRTX); Raising PT to $77
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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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Barclays maintains an 'Overweight' on Vertex (NASDAQ: VRTX) price target raised from $44 to $77.
Analyst, Ying Huang, said, "...Based on the Phase III results of Kalydeco in patients with the G551D mutation, we believe the observed improvement in lung function is sustainable. Although we are puzzled by the sweat chloride data (reductions were not statistically significant between Day 28 and Day 56), ultimately lung function improvement is the most relevant, in terms of both regulatory approval and clinical significance."
"We project peak cystic fibrosis revenues of $5 billion. ~48% of all CF patients carry two copies of the F508del mutation while ~40% carry one copy, compared to 4% of all CF patients with the G551D mutation..."
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 $58.12 yesterday.
Analyst, Ying Huang, said, "...Based on the Phase III results of Kalydeco in patients with the G551D mutation, we believe the observed improvement in lung function is sustainable. Although we are puzzled by the sweat chloride data (reductions were not statistically significant between Day 28 and Day 56), ultimately lung function improvement is the most relevant, in terms of both regulatory approval and clinical significance."
"We project peak cystic fibrosis revenues of $5 billion. ~48% of all CF patients carry two copies of the F508del mutation while ~40% carry one copy, compared to 4% of all CF patients with the G551D mutation..."
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 $58.12 yesterday.
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