Thursday, June 28, 2012
Vertex Pharmaceuticals (VRTX) weakness creates buying opportunity, says Piper Jaffray
After a test of Vertex's KALYDECO +VX-809 in cystic fibrosis patients indicated that the drug failed to improve lung functioning by a statistically significant amount, Piper still believes that Vertex's cystic fibrosis franchise represents a blockbuster opportunity. The firm reiterates a $75 target and Overweight rating on the stock.
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