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UPDATE: Deutsche Bank Reiterates Buy Rating, Lowers PT on Vertex Pharmaceuticals

Related VRTX
Earnings Scheduled For October 28, 2014
Bank Of America Is Impressed By Takeaways From Vertex Pharmaceuticals Conference Call

In a report published Friday, Deutsche Bank reiterated its Buy rating on Vertex Pharmaceuticals (NASDAQ: 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.

Latest Ratings for VRTX

DateFirmActionFromTo
Oct 2014JMP SecuritiesMaintainsMarket Outperform
Oct 2014JMP SecuritiesMaintainsMarket Perform
Oct 2014Piper JaffrayUpgradesNeutralOverweight

View More Analyst Ratings for VRTX
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Posted-In: Deutsche BankAnalyst Color Price Target Analyst Ratings

 

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