Brean Murray Carret & Co. Maintains a 'Buy' on Vertex (VRTX); Eyes on Kalydeco

Brean Murray Carret & Co. maintains a 'Buy' on Vertex (NASDAQ: VRTX) price target of $69.00.

Analyst, Brian Skorney, said, "FDA is requiring VRTX to conduct additional safety studies with Kalydeco in pediatric patients after detecting an increased risk of cataracts in a juvenile rat model...we believe this issue is insignificant as it occured at relatively low doses in juvenile rats but was not seem in older animals or human children. In worst case scenario, we believe this would restrict Kalydeco usage in patients 11 years and older, given that eye development is generally complete by that age. We do not believe such a restriction would significantly reduce the market potential; however, we note that over 52 patients between 6 and 11 were evaluated in a phase 3 study with no signal."

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 $54.09 yesterday.

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