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UPDATE: Deutsche Bank Raises PT on Vertex Pharmaceuticals on 661 Data

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

Latest Ratings for VRTX

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

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Posted-In: Deutsche BankAnalyst Color Price Target Analyst Ratings

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StockFirmActionPT
HYMCBMO CapitalInitiates Coverage On
DEMorgan StanleyMaintains335.0
SBNYRaymond JamesMaintains138.0
CORTHC Wainwright & Co.Maintains32.0
CYBBFCitigroupDowngrades
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