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Fly News Breaks for January 31, 2020
Jan 31, 2020 | 07:59 EDT
Stifel analyst Paul Matteis said Vertex's $420M in Trikafta sales in Q4 "greatly exceeded" his expectations, even considering the inventory build of $100M. Following the company's report, he is raising his 2020 estimates while increasing his Vertex price target to $275. In terms of the pipeline, the most noteworthy management commentary was on AAT, suggesting data aren't imminent, while Vertex also conveyed enthusiasm for T1D, gene editing and pain, noted Matteis. He keeps a Buy rating on Vertex shares.
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