Piper Jaffray Retains Overweight Rating For Vertex Pharma (VRTX)

Vertex Pharmaceuticals VRTX had recently announced sustained Virologic Response (SVR) of 75% in the 12-week response guided therapy of Telaprevir arms. The pharma company also intends to begin filing a rolling NDA this summer for Telaprevir. According to a report released by Piper Jaffray, the company is conducting a phase II combination study of Telaprevir amd polymerase inhibitor VX-222. The research firm has reiterated its overweight rating for the stock and has set its price target at $52. The price target is based on NPV of projected corporate cash flow through 2020 discounted back at 17%. The company may face regulatory and commercial risks.