Street Underestimates Pharmasset's PSI-7977, Morgan Stanley Reports

Morgan Stanley believes the Street underestimates the potential of Pharmasset's VRUS PSI-7977, “which has shown strong RVR and EVR rates in G1 pts (95+%), a strong SVR12 rate in G2/3 pts (100%), a solid safety profile all around, and pan-genotype activity.” “We expect this drug will continue to show a solid efficacy, safety and resistance profile and that these traits should drive meaningful share in multiple genotypes,” Morgan Stanley writes. Pharmasset closed Wednesday at $105.56.