Market Overview

UPDATE: Goldman Sachs Downgrades Vertex Pharmaceuticals to Sell on CF Combo Outlook

Share:
Related VRTX
Credit Suisse Adjusts Its Top Picks List In A Record-Breaking Market
Earnings Scheduled For October 25, 2017
Your Daily Pharma Scoop: Right Time To Buy Regeneron, Eli Lilly Gives Guidance, Bluebird Announces Offering (Seeking Alpha)

Goldman Sachs lowered its rating on Vertex Pharmaceuticals (NASDAQ: VRTX) from Neutral to Sell and reduced its price target from $55 to $43.

Goldman Sachs noted, "We downgrade shares of VRTX to Sell from Neutral following 3Q12 results and the NACFC conference earlier this month, as we have a more cautious outlook on the company's key pipeline program (cystic fibrosis, CF combo) and see a limited number of catalysts heading into 2013. In our view, success of the CF pipeline is key to driving outer-year growth as VRTX's existing revenue base slows. We model a 10% revenue CAGR (2012-2015) if CF combo succeeds vs. -2% if it fails vs. peer group mean CAGRs of 15%-20%."

Vertex Pharmaceuticals closed at $50.48 on Thursday.

Latest Ratings for VRTX

DateFirmActionFromTo
Dec 2017Deutsche BankInitiates Coverage OnBuy
Sep 2017DA DavidsonInitiates Coverage OnBuy
Sep 2017RBC CapitalInitiates Coverage OnOutperform

View More Analyst Ratings for VRTX
View the Latest Analyst Ratings

Posted-In: Goldman SachsAnalyst Color Downgrades Pre-Market Outlook Analyst Ratings

 

Related Articles (VRTX)

View Comments and Join the Discussion!