H.C. Wainwright Highlights Its Top Picks Ahead Of NACFC 2014

In a report published Wednesday, H.C. Wainwright analyst Andrew S. Fein reiterated a Neutral rating and $85.00 price target on Vertex Pharmaceuticals Incorporated (NASDAQ: VRTX).

In the report, H.C. Wainwright noted, “During the last year, we had alerted investors on the pending multiplication of CFTR modulators in competitor pipelines. We acknowledge that this phenomenon likely owes its existence to the commercial success of 770 and clinical (and likely commercial) success of 809. However, we maintain that not only have these new modulators fed on VRTX success so far, but that they will continue to feed on it in the near term and possibly consume it fully in the medium to long term. Our main takeaway from NACFC abstracts this year and from our academic feedback is that following massive screenings of candidate compounds as correctors and potentiators, there is growing skepticism in the community that the corrector/potentiator paradigm will be final magic bullet in CF, and both thought leaders and companies are slowly turning their heads to look for novel mechanisms of action.”

Vertex Pharmaceuticals Incorporated closed on Tuesday at $112.31.