Vertex shares attractive, says ThinkEquity After Vertex presented key efficacy and safety data for VX809 combination therapy, ThinkEquity believes that the data suggests that the therapy is providing a clinical benefit. The firm thinks that this benefit could be replicated in a Phase III study and it suggests owning the stock. ThinkEquity maintains a Buy rating on the shares.
PTC Therapeutics takeout price likely tops $100/share, said Credit Suisse Credit Suisse yesterday raised its price target for PTC Therapeutics (PTCT) shares to $100 from $66 after Reuters reported the drug market is starting a sale process with Shire (SHPG) and Biomarin (BMRN) as possible suitors. The firm believes a takeout is a likely outcome before or after data the Phase III data expected to be announced in October. PTC has Translarna Phase III trials ongoing in Duchenne muscular dystrophy and cystic fibrosis to support full approval in the U.S. Credit Suisse said yesterday in a note to investors that a takeout value for the company likely exceeds $100 per share. It believes PTC would be a good fit for Vertex (VRTX), Biogen (BIIB), Roche (RHHBY) and others. The firm kept an Outperform rating on the stock. PTC Therapeutics shares closed yesterday up $6.20 to $71.16.