Vertex's Next-Generation Cystic Fibrosis Program Shows Efficacy With Reduced Burden, Provides Growth Opportunity: Goldman Sachs
Portfolio Pulse from Vandana Singh
Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) announced positive results from its vanzacaftor/tezacaftor/deutivacaftor (vanza triple) program for cystic fibrosis, showing non-inferiority to Trikafta in lung function improvement. Concurrently, Vertex released its Q4 2023 financial results. Goldman Sachs reiterated a Buy rating with a new price target of $578. The vanza triple therapy offers advantages over Trikafta, including once-daily dosing and lower royalty burdens, potentially attracting 6,000 patients who stopped using other Vertex CF medications. VRTX shares dropped 2.89% to $416.51.
February 06, 2024 | 7:55 pm
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Vertex's vanza triple therapy for cystic fibrosis shows promising results, potentially boosting its CF franchise revenue. Goldman Sachs reiterates a Buy rating with a higher price target of $578. The therapy's advantages over Trikafta could attract new patients.
The positive results from the vanza triple program and the potential to attract patients who stopped using other Vertex CF medications indicate a strong growth opportunity for Vertex's CF franchise. The reiteration of a Buy rating and increased price target by Goldman Sachs further supports a positive outlook for VRTX stock in the short term, despite the recent drop in share price.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100