Thursday, November 16, 2006

Calls of Note Part 1

- Piper Jaffray is positive on Vertex Pharma (NASDAQ:VRTX) taking their tgt to $58 from $42. Firm notes they have taken a closer look at the HCV market, as they believe investors will begin shifting to a commercial focus in the next several quarters, after data from ongoing trials satisfy outstanding clinical uncertainties. After a closer look, the firm believes their prior telaprevir estimates were overly conservative, particularly on the numbers of new patients seeking treatment. Firm's new U.S. and worldwide telaprevir sales estimates are $2.3b and $4.0b (from 1.5b; $2.5b) in 2012.

Preliminary end of treatment data from the ongoing Phase 2 PROVE-1 trial expected in the next few weeks represents a near-term positive catalyst.

Notablecalls: Expect VRTX stock to be flying today. I can easily see 2 pts worth of upside from last close. VRTX is one of biotech's darlings and will most likely be acquired at some point.

1 comment:

BULL said...

Any thoughts on Dell after formal investigation by SEC announced?