In a report published Friday, Deutsche Bank reiterated its Buy rating on Vertex Pharmaceuticals VRTX, but lowered its price target from $77.00 to $75.00.
Deutsche Bank noted, “We rate VRTX shares Buy on the back of potential success in their CF program targeting the homozygous F508del patients with VX-809 & Kalydeco. Our model suggests no value being assigned to HCV, no value to other CF gating mutations, and about 35% chance of success on 508del population. We model $1.4B revs, $1.2B expenses in 2013. Key questions remain Incivek & expense guidance. We model '13 down Incivek -35% & every $100M impacts DCF by $1.5/sh. Maintain Buy.”
Vertex Pharmaceuticals closed on Thursday at $39.10.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in