UBS Maintains a 'Neutral' on Vertex (VRTX); Potential CF Program Advancement
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Price: $480.25 -1.06%
Rating Summary:
38 Buy, 7 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 16 | Down: 7 | New: 60
Rating Summary:
38 Buy, 7 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 16 | Down: 7 | New: 60
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UBS maintains a 'Neutral' on Vertex (NASDAQ: VRTX) price target raised from $35 to $44.
Analyst, Matthew Roden, said, "Our thoughts: 1) Our prior $35 PT looks more like a downside case scenario, and we see more optionality to the upside as we do not include the pipeline in our valuation; 2) We acknowledge that the cystic fibrosis (CF) franchise could develop into a multi-billion dollar opportunity; 3) However, we continue to not expect significance on FEV1 in the ph2 study of VX-770/809 in CF patients, which would limit near term upside; 4) We see risk of incremental downside if GS-7977 data impress in HCV."
UBS lowers FY12 EPS estimate from $4.44 to $4.21 and FY13 from $5.05 to $4.78.
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 $40.95 yesterday.
Analyst, Matthew Roden, said, "Our thoughts: 1) Our prior $35 PT looks more like a downside case scenario, and we see more optionality to the upside as we do not include the pipeline in our valuation; 2) We acknowledge that the cystic fibrosis (CF) franchise could develop into a multi-billion dollar opportunity; 3) However, we continue to not expect significance on FEV1 in the ph2 study of VX-770/809 in CF patients, which would limit near term upside; 4) We see risk of incremental downside if GS-7977 data impress in HCV."
UBS lowers FY12 EPS estimate from $4.44 to $4.21 and FY13 from $5.05 to $4.78.
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 $40.95 yesterday.
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