UBS Reiterates Buy Rating on Vertex (VRTX)

UBS analyst Eliana Merle reiterated a Buy rating and $583.00 price target on Vertex (NASDAQ: VRTX).

The analyst commented, "We got some questions from our 1Q preview on Friday where we said Journavx scripts could be accelerating from our checks so we summarize our recent doc calls: From nine physicians, ~650 prescriptions expected in the next 3 months (~20% of acute pain volume) across a mix of surgeons, anesthesiologists & pain specialists. In our conversations with 4 doctors prescribing Journavx for acute postsurgical pain, all were positive on their experience thus far and plan to increase prescribing over the next 3 & 6 months as they gain familiarity; a survey including 5 additional doctors points to a similar trend. Of those 4 physicians we spoke with, prescribing was skewed to non-retail channels such as dispensing from a hospital pharmacy (where IQVIA data less reliable)—we think this points to an overall script acceleration counter to what investors are seeing from IQVIA in recent weeks."

For an analyst ratings summary and ratings history on Vertex click here. For more ratings news on Vertex click here.

Shares of Vertex closed at $477.52 yesterday.

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