Brean Murray Issues Mid-Day Upgrade on Vertex Pharma (VRTX)

Brean Murray Carret & Co.'s Brian Skorney upgraded shares of Vertex (NASDAQ: VRTX) in an afternoon research report Monday. The upgrade follows positive trial results from a study on VX-809 and KALYDECO. Shares of Vertex have surged more than 55 percent amid the news.

Skorney said, "Vertex put lackluster Phase 2 results from last summer in the rearview mirror today by demonstrating profound clinical benefits in a subset of cystic fibrosis patients. We believe these results have the potential to expand the company's targeted CF population by 10x. Although Phase 3 still remains a hurdle, we now have confidence that the robust sales numbers seen in the first quarter of Kalydeco sales will be possible across a much larger patient population..."

For an analyst ratings summary and ratings history on Vertex click here. For more ratings news on Vertex click here.

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