Vertex (VRTX) PT Lifted to $115 at UBS

UBS analyst Matthew Roden raised his price target on Buy-rated Vertex (NASDAQ: VRTX) to $115.00 (from $93.00) on clean ph3 data and supported corrector hypothesis.

Roden said, "Today's results not only demonstrate that the VX-809/ivacaftor combo works in F508del homozygous CF patients (and will lead to approval and utilization in the largest patient subgroup), but also support the corrector hypothesis and increase our conviction that the next-gen corrector combos will build on this finding to improve benefit/risk. We believe the new approach of therapy is a game changer in CF, and are raising our forecasts and PT to $115 (from $93 prior)."

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 $93.53 yesterday.

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