Well Fargo on Vertex (VRTX) Hidden Pipeline - VX-787 for Influenza
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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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Investors looking for a winner in the pharmaceutical space by find it in Vertex Pharmaceuticals Inc. (NASDAQ: VRTX), think analysts at Wells Fargo.
The company has a flu candidate drug called VX-787, with results expected by year-end. If successful, it may have potential advantages vs. Tamiflu, and analysts at Wells say based on their analysis there is a "possibility the agent could show clinical activity", which would provide upside for the stock considering the fact that the street has assigned very little value to the drug.
"With VRTX shares down--in part due to concerns over Kalydeco's peak sales in G551D and concerns over less certainty on upcoming CF and HCV datapoints--we believe this would provide a much-needed positive clinical catalyst, with little downside risk given the low expectations," wrote analyst Brian Abrahams.
"Preclinical data reported by VRTX showed protection of rodents from flu-related death at a higher rate and with a longer dosing window than Tamiflu, with data in IP filings indicating an ability to reduce weight loss. Other data also show that its differentiated mechanism enables activity vs. Tamiflu-resistant strains, while retaining efficacy vs. potential pandemic reassortments," continued Abrahams.
Wells Fargo has an Outperform rating on Vertex with a price target of $60 to $62.
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 $40.50 yesterday.
The company has a flu candidate drug called VX-787, with results expected by year-end. If successful, it may have potential advantages vs. Tamiflu, and analysts at Wells say based on their analysis there is a "possibility the agent could show clinical activity", which would provide upside for the stock considering the fact that the street has assigned very little value to the drug.
"With VRTX shares down--in part due to concerns over Kalydeco's peak sales in G551D and concerns over less certainty on upcoming CF and HCV datapoints--we believe this would provide a much-needed positive clinical catalyst, with little downside risk given the low expectations," wrote analyst Brian Abrahams.
"Preclinical data reported by VRTX showed protection of rodents from flu-related death at a higher rate and with a longer dosing window than Tamiflu, with data in IP filings indicating an ability to reduce weight loss. Other data also show that its differentiated mechanism enables activity vs. Tamiflu-resistant strains, while retaining efficacy vs. potential pandemic reassortments," continued Abrahams.
Wells Fargo has an Outperform rating on Vertex with a price target of $60 to $62.
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 $40.50 yesterday.
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