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Fly News Breaks for August 1, 2019
VRTX
Aug 1, 2019 | 07:25 EDT
As previously reported, Needham analyst Alan Carr downgraded Vertex to Hold after its Q2 results, saying that while it beat on earnings and raised FY19 revenue, he sees the company's dominance in Cystic Fibrosis reflected in the stock's valuation. The analyst adds that Vertex has an "outstanding" R&D record, but notes that its non-CF pipeline will need to broaden to warrant a higher multiple.
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