UPDATE: Deutsche Bank Reiterates Buy Rating, Raises PT on Vertex Pharmaceuticals on 661 Data

In a report published Friday, Deutsche Bank analyst Robyn Karnauskas reiterated a Buy rating on Vertex Pharmaceuticals VRTX, and raised the price target from $75.00 to $100.00. In the report, Karnauskas noted, “661 data released today beat our positive expectations. We now model c100% success in F508del homozygous (prev. 75%) and 100% success in other Kalydeco mutations (prev. 50%), and increase market size oppy for other mutations. We also see oppy's for upside leading to VRTX FVs of $100-$150/sh. We are increasing our TP to $100 for the reasons above and reiterate our Buy rating.” Vertex Pharmaceuticals closed on Thursday at $52.87.