Vertex Delivers Game-Changing Triple Combo Data in Cystic Fibrosis; Raising FVE to $170
Narrow-moat Vertex delivered game-changing news to cystic fibrosis patients and investors thanks to its positive phase 1 and 2 results validating the benefit of triple-combination drug therapies, which prompted the stock to appreciate 25% in aftermarket hours. We are raising our fair value estimate to $170 from $132 to account for our increased expectation for triple combo approval in the largest remaining patient opportunity (a matter of when rather than if, in our opinion), anticipated acceler...Vertex Pharmaceuticals is focused on developing and commercializing therapies for the treatment of cystic fibrosis (CF) and developing research and development programs in other indications. The company's marketed products are TRIKAFTA (elexacaftor/tezacaftor/ivacaftor and ivacaftor), SYMDEKO/SYMKEVI (tezacaftor in combination with ivacaftor), ORKAMBI (lumacaftor in combination with ivacaftor) and KALYDECO (ivacaftor), which are approved to treat patients with CF who have specific mutations in their cystic fibrosis transmembrane conductance regulator gene. The company is evaluating CTX001, a genetic therapy as a potential treatment for sickle cell disease and beta-thalassemia.
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Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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