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Fly News Breaks for September 22, 2016
VRTX
Sep 22, 2016 | 08:53 EDT
Piper Jaffray analyst Edward Tenthoff views the weakness in shares of Vertex Pharmaceuticals following the company's recent Q3 guidance as a buying opportunity ahead of Orkambi's September 30 PDUFA date in homozygous F508del children. Label expansion for Orkambi should drive cystic fibrosis sales to $478M in Q4, Tenthoff tells investors in a research note. He points out that Vertex will announce data at the North American Cystic Fibrosis Conference from October 27-29. The analyst reiterates an Overweight rating on the shares with a $129 price target.