Vertex (VRTX) PT Bumped to $88 at BMO Capital Following Results and Triple Combo Update

BMO Capital analyst Do Kim bumped his price target on Vertex (NASDAQ: VRTX) to $88.00 (from $87.00) following results and the triple combo update but maintained a Market Perform rating.

Kim commented, " Vertex's 3Q16 was generally in line with expectations, as prior comments and revised guidance had previewed earnings ahead of print. More importantly, Phase II designs for the triple combo were outlined and differed significantly between the two next-gen correctors. Primarily driving this strategy was the unique safety profiles of the drugs, including potential teratogenicity for VX-440 and GI effects for VX-152. Additionally, we believe VRTX shares could face pressure this week as competitor data are presented at the NACFC meeting from October 27-29."

For an analyst ratings summary and ratings history on Vertex click here. For more ratings news on Vertex click here.

Shares of Vertex closed at $78.71 yesterday.

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