Cantor Fitzgerald analyst Alethia Young says shares of Vertex Pharmaceuticals are attractive on today’s selloff following news that COO/interim CFO Ian Smith has been terminated effective immediately due to personal behavior. One person does not affect the “robust clinical evidence that has been generated nor the company’s dominance” in cystic fibrosis, Young tells investors in a research note. Further, she thinks Vertex has a deep bench. Young remains bullish on Vertex’s growth potential and keeps an Overweight rating on the shares with a $217 price target.
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