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Fly News Breaks for September 14, 2015
ALXN, VRTX
Sep 14, 2015 | 05:48 EDT
Barclays analyst Geoff Meacham upgraded Vertex Pharmaceuticals (VRTX) to Overweight citing positive expert feedback regarding the company's recently approved cystic fibrosis treatment Orkambi. After speaking with cystic fibrosis experts, Meacham raised his worldwide Orkambi estimates by 5%-10% beginning in 2016 and sees nearer term upside to consensus forecasts. He raised his price target for Vertex shares to $150 from $120. The biotechnology company closed Friday up $2.06 to $134.06. Meacham coupled the upgrade with a downgrade of Alexion Pharmaceuticals (AXLN) this morning to Equal Weight.
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