We Continue To Remain Supportive Of Vertex Shares, Says Janney Analyst


In a research note released this morning, Janney Montgomery Scott reiterated coverage on Vertex Pharmaceuticals (VRTX) with an Outperform rating and $90 fair value estimate.

A data from Vertex’s TRAFFIC and TRANSPORT studies is expected imminently and are outlining the risk/reward profile for VRTX shares. Given mixed Phase II VX-809 plus Kalydeco data and positive VX-661 plus Kalydeco data, Janney analyst Kimberly Lee assigns a 60% probability of success for the VX-809 combination studies.

“We view VRTX as a compelling investment based on a solid Kalydeco franchise, potential for market expansion in CF, pipeline strength and valuation. Our $90 fair value estimate is based on a DCF analysis that examines free cash flow through 2021”, says Lee.

According to TipRanks, which measures analysts and bloggers success rate based on how their calls perform, 4-star analyst Kimberly Lee, who covers VRTX, has a one-year average return of 19% and a 50% success rate.

VRTX Chart

 

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