Market Overview

UPDATE: Credit Suisse Downgrades Vertex Pharmaceuticals to Neutral on Competitive Pressures

Share:
Related VRTX
Short Interest Surges In Illumina And Vertex Pharmaceuticals
H.C. Wainwright: Vertex's Long-Term Value Is In The Pipeline
Best Performing Nasdaq 100 Stocks (Seeking Alpha)

Credit Suisse reduced its rating on Vertex Pharmaceuticals (NASDAQ: VRTX) from Outperform to Neutral and lowered its price target from $56 to $48.

Credit Suisse noted, "On Sat (Nov 10), GILD reported top-line PII data from ELECTRON Arm 13 (GS-5885 + GS-7977 + RBV), posting a 100% SVR4 (i.e. cure rate). Given these positive results, we expect Incivek will likely be come under pressure in the near to medium term. We are not changing our 2012 sales estimates for Incivek ($1.1B at the lower end of guidance). However, we are reducing our 2013-2016 Incivek sales and royalties to $686M, $360M, $180M, and $135M from $1.0B, $777M, $571M, and $357M respectively."

Vertex Pharmaceuticals closed at $45.01 on Friday.

Latest Ratings for VRTX

DateFirmActionFromTo
Apr 2016Goldman SachsDowngradesBuyNeutral
Apr 2016Credit SuisseMaintainsOutperform
Apr 2016BMO CapitalInitiates Coverage onMarket Perform

View More Analyst Ratings for VRTX
View the Latest Analyst Ratings

Posted-In: Credit SuisseAnalyst Color Downgrades Pre-Market Outlook Analyst Ratings

 

Related Articles (VRTX)

View Comments and Join the Discussion!