UPDATE: Goldman Sachs Maintains Neutral Rating, Raises PT for Vertex Pharmaceuticals

In a company update published earlier today, the Goldman Sachs Group, Inc. maintained its Neutral rating for Vertex Pharmaceuticals Incorporated VRTX and raised its price target from $40.00 to $60.00. Goldman Sachs went on to say “Following interim Ph2 data from Kalydeco and VX-809 combo, we are adding sales to our model (we assume a 60% chance of approval in F508del homozygous patients, 45% of CF population) and project adjusted peak sales of $2bn. We also increase our R&D, SG&A, and COGS expenses. As a result our 2013-2015 EPS estimates change to $4.78/$4.67/$2.14 from $4.99/$4.82/$1.24.” Vertex Pharmaceuticals Incorporated closed yesterday at $60.19.