NACF Conference Could Create Catalyst for Vertex (VRTX) - Analyst
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Price: $508.34 -1.55%
Rating Summary:
38 Buy, 7 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 19 | Down: 9 | New: 26
Rating Summary:
38 Buy, 7 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 19 | Down: 9 | New: 26
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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.
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