Deutsche Bank rates the stock as Hold
Target $1.35 (was $1.25). The Q2 result beat the broker, especially revenue wise, with better than expected Bronchitol sales the main reason for the beat. The broker otherwise remains positive on current FDA discussions and thus sees a good chance for a near-term run in the share price if things go as well as expected.
Longer term, however, the broker is growing increasingly worried about Vertex’s rapidly expanding cystic fibrosis pipeline. Thus, with limited upside except a possible short term run, the Hold call is maintained.
Sector: Pharmaceuticals, Biotechnology and Life Sciences.
Target price is $1.35. Current Price is $1.28. Difference: $0.07 – (brackets indicate current price is over target). If PXS meets the Deutsche Bank target it will return approximately 5% (excluding dividends, fees and charges – negative figures indicate an expected loss).