NACF Conference Could Create Catalyst for Vertex (VRTX) - Analyst
Get Alerts VRTX Hot Sheet
Price: $404.41 +1.12%
Rating Summary:
31 Buy, 10 Hold, 1 Sell
Rating Trend: Up
Today's Overall Ratings:
Up: 15 | Down: 11 | New: 13
Rating Summary:
31 Buy, 10 Hold, 1 Sell
Rating Trend: Up
Today's Overall Ratings:
Up: 15 | Down: 11 | New: 13
Join SI Premium – FREE
Brean Murray Carret & Co. reiterated a Buy rating on Vertex (NASDAQ: VRTX) with a price target of $69.00.
Analysts said next week’s NACF conference should be the first of numerous catalysts setting Vertex shares up to outperformance over the next few quarters.
"We expect a comprehensive presentation of VX-770/VX-809 combo data at NACF to provide more confidence in the probability of a successful Phase 3 outcome that would open up a multi-billion market opportunity," said analyst Brian Skorney.
"This CF franchise update will be complemented by the first conference presentation of data on ALS-2200 in November at the annual Liver Conference. We believe this meeting will reflect positively on Vertex now that Bristol (NYSE: BMY) and Idenix nucs have been put on the backburner, clearing the way for ALS-2200 to be the only active nuc in clinical development behind Gilead's (Nasdaq: GILD) sofosbuvir," added Skorney.
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 $57.76 yesterday.
Analysts said next week’s NACF conference should be the first of numerous catalysts setting Vertex shares up to outperformance over the next few quarters.
"We expect a comprehensive presentation of VX-770/VX-809 combo data at NACF to provide more confidence in the probability of a successful Phase 3 outcome that would open up a multi-billion market opportunity," said analyst Brian Skorney.
"This CF franchise update will be complemented by the first conference presentation of data on ALS-2200 in November at the annual Liver Conference. We believe this meeting will reflect positively on Vertex now that Bristol (NYSE: BMY) and Idenix nucs have been put on the backburner, clearing the way for ALS-2200 to be the only active nuc in clinical development behind Gilead's (Nasdaq: GILD) sofosbuvir," added Skorney.
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 $57.76 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- AGNC Investment Corp (AGNC) PT Lowered to $10.25 at Jones Trading
- Novartis (NVS) PT Raised to $108 at CFRA
- Nomura/Instinet Downgrades Gujarat State Petronet (GUJS:IN) to Reduce
Create E-mail Alert Related Categories
Analyst Comments, Analyst EPS View, FDARelated Entities
Brean Murray Carret & Co.Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!