Vertex (VRTX) PT Raised to $220 at Cowen

Cowen analyst Phil Nadeau raised the price target on Vertex (NASDAQ: VRTX) to $220.00 (from $210.00) while maintaining a Outperform rating.

The analyst commented, "VRTX reported Q4 CF franchise revenue of $868.2MM vs consensus of $818.8MM, non-GAAP EPS of $1.30 vs. consensus of $1.08. 2019 revenue guidance bracketed consensus. Results from the VX-445/tex/iva triples are on track for Q1, with an FDA filing for the first triple regimen anticipated by mid-year. We expect VRTX to have industry-leading top-line growth thru '23 and it remains a top pick."

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