Piper Jaffray Comments On Share Surge For Vertex Pharmaceuticals

In a report published by Piper Jaffray, Vertex Pharmaceuticals' VRTX shares have surged.

Piper Jaffray reported that shares of VRTX have surged 45.8% this year based on positive STRIVE data in cystic fibrosis (CF) and ahead of likely Telaprevir approval in HCV by the May 23rd PDUFA date. “We continue to look for a busy month of March with Phase II VX-765 data in epilepsy and Phase II combo data of Telaprevir + VX-222 at the International Liver Congress in Berlin. Positive data from either study could provide upside to our current $52 price target.”

Vertex Pharmaceuticals closed yesterday at $51.07.