Evercore ISI upgraded Vertex Pharmaceuticals (VRTX) to Outperform from In Line with a $438 price target after the “surprise move” to acquire Alpine Immune Sciences (ALPN) for $65 per share or $4.9B in cash. The firm thinks this is “a solid acquisition” aligned with Vertex’s emerging footprint in nephrology following advancement of inaxaplin in AMKD and VX-407 in ADPKD, the analyst tells investors in a research note.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on VRTX:
- M&A: Vertex Bolsters its Drug Portfolio with Alpine Deal
- RBC says pain opinion leader ‘notably negative’ on Vertex’s VX-548
- Truist pharmaceuticals analyst holds an analyst/industry conference call
- Vertex announces acceptance of NDS for exagamglogene autotemcel
- Vertex Pharmaceuticals advances inaxaplin into Phase 3 portion of trial
