Market Overview

UPDATE: Credit Suisse Raises PT on Vertex Pharmaceuticals on Cystic Fibrosis Franchise De-Risking

Share:

In a report published Friday, Credit Suisse analyst Ravi Mehrotra reiterated a Neutral rating on Vertex Pharmaceuticals (NASDAQ: VRTX), and raised the price target from $48.00 to $80.00.

In the report, Mehrotra noted, “Raising our CF franchise estimates. VRTX announced positive PII data for VX-661 + Kalydeco in cystic fibrosis (CF) patients with the homozygous F508del mutation. To reflect our increased expectations, we are raising our WW peak sales for VRTX's CF franchise to $4.0B (from $2.9B) in 2022. We note that these estimates serve as placeholders until we dig deeper into the factors driving the CF franchise's potential. We raise our DCF-derived TP to $80 (from $48). High doses of VX-661 in combination with Kalydeco shows statistically significant improvement in lung function. The relative increases in FEV1 (vs. placebo) for the 100mg and 150mg VX-661 arms were 9.0% and 7.5% respectively.”

Vertex Pharmaceuticals closed on Thursday at $52.87.

Latest Ratings for VRTX

DateFirmActionFromTo
Nov 2020BernsteinInitiates Coverage OnOutperform
Oct 2020Credit SuisseMaintainsOutperform
Oct 2020SVB LeerinkMaintainsMarket Perform

View More Analyst Ratings for VRTX
View the Latest Analyst Ratings

 

Related Articles (VRTX)

View Comments and Join the Discussion!

Posted-In: Credit SuisseAnalyst Color Price Target Analyst Ratings

Latest Ratings

StockFirmActionPT
PMTB of A SecuritiesMaintains18.5
IVRB of A SecuritiesMaintains3.0
EFCB of A SecuritiesMaintains15.5
NYMTB of A SecuritiesMaintains3.5
NLYB of A SecuritiesMaintains8.5
View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com