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Fly News Breaks for September 3, 2019
VRTX
Sep 3, 2019 | 06:36 EDT
Goldman Sachs analyst Salveen Richter added Vertex Pharmaceuticals to his firm's Americas Conviction List while raising his price target for the shares to $254 from $226 and keeping a Buy rating on the name. Vertex is in the midst of a multi-year period of "rapid" margin expansion and earnings outperformance driven by growth of the legacy cystic fibrosis franchise and likely launch of VX-445 triple combination, which has a March 19 FDA action date, Richter tells investors in a research note. Further, the analyst believes investor attention should now shift to the company's emerging pipeline, where he sees a "significant opportunity" in the Phase 2-ready alpha-1 antitrypsin deficiency disorder program.
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