Canaccord lowered the firm’s price target on Vertex Pharmaceuticals to $332 from $336 while maintaining a Hold rating. The FDA approved Casgevy for the treatment of sickle cell disease in patients over 12 with recurrent vaso-occlusive crises, an exciting milestone as the first approved CRISPR therapy in the U.S., the analyst tells investors in a research note. At the same time, the firm says it already assumed 100% POS in its model with approval this year and worldwide peak sales of $900M in 2031 for both SCD and Transfusion-Dependent Beta Thalassemia.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on VRTX:
- Vertex Pharmaceuticals at , here’s why
- Vertex (NASDAQ:VRTX), CRISPR Therapeutics Slip despite Sickle Cell Treatment Approval
- Crispr says Casgevy approval triggers $200M milestone payment
- Vertex sets $2.2M as U.S. wholesale acquisition cost for Casgevy
- Vertex and Crispr announce FDA approval of Casgevy for sickle cell disease