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VRTX

Moderna up 11% after business update, extension of Vertex partnership

Messenger RNA (mRNA) therapeutics developer Moderna (NASDAQ:MRNA +11%) is up on over 40% higher volume following its Q2 report released this morning that included a pipeline update and an announcement that collaboration partner Vertex Pharmaceuticals (NASDAQ:VRTX -1.4%) has extended their exclusive research partnership aimed at developing mRNA therapies for cystic fibrosis through Q1 2020 with options to extend further depending on progress. Moderna will host its annual R&D Day in New York on September 12.

VRTX

FDA accepts Vertex application for CF triplet therapy

The FDA accepts for review Vertex Pharmaceuticals' (NASDAQ:VRTX) marketing application for the combination of VX-445 (elexacaftor), tezacaftor and ivacaftor for cystic fibrosis patients with one F508del mutation and one minimal function mutation or two F508del mutations. Under Priority Review status, the agency's action date is March 19, 2020.

VRTX

Vertex slips 1% on negative Symdeko chatter

Vertex Pharmaceuticals (VRTX -1.1%) is under modest pressure on below-average volume in apparent response to unconfirmed chatter that Symdeko (tezacaftor/ivacaftor and ivacaftor) has been linked to multiple deaths. Shares bottomed at $170.54 (-4%) intraday before recovering. FDA FAERS dashboard Update: FAERS states 30 deaths (search by product name).

VRTX

Vertex says "no evidence" of Symdeko-related deaths

In a statement to STAT, Vertex Pharmaceuticals (VRTX +0.1%) says it has no evidence linking cystic fibrosis med Symdeko to the reported deaths on the FDA's FAERS dashboard and has received no communication from the agency about the drug's safety. Shares initially sold off ~4% on the news, but have recovered.

VRTX

Sell-siders like InMode in premarket analyst action

Correvio Pharma (NASDAQ:CORV) initiated with Overweight rating and $6 (193% upside) price target at Cantor Fitzgerald. InMode (NASDAQ:INMD) initiated with Buy rating and $30 (51% upside) price target at Canaccord Genuity. Initiated with Buy rating and $28 price target at UBS. Initiated with Outperform rating and $27 price target at Baird. Initiated with Overweight rating and $27 price target at Barclays. Shares up 4% premarket. MeiraGTx Holdings (NASDAQ:MGTX) initiated with Overweight rating and $40 (98% upside) price target at Piper Jaffray. Sabra Health Care REIT (NASDAQ:SBRA) initiated with Overweight rating and $24 (11% upside) price target at Barclays. Medical Properties Trust (NYSE:MPW) initiated with Overweight rating and $20 (8% upside) price target at Barclays. Sanofi (NASDAQ:SNY) initiated with Outperform rating and $52 (21% upside) price target at Bernstein. Shares up 3% premarket. Vertex Pharmaceuticals (NASDAQ:VRTX) added to Conviction Buy List at Goldman Sachs. Marinus Pharmaceuticals (NASDAQ:MRNS) initiated with Buy rating and $5 (335% upside) price target at H.C. Wainwright. Shares up 3% premarket. Geron (NASDAQ:GERN) initiated with Buy rating and $4 (186% upside) price target at H.C. Wainwright. Shares up 4% premarket. Axonics Modulation Technologies (NASDAQ:AXNX) initiated with Buy rating and $43 (29% upside) price target at Needham.

VRTX

Vertex to acquire Semma Therapeutics for $950M

Vertex Pharmaceuticals (NASDAQ:VRTX) has agreed to acquire privately held Semma Therapeutics, a developer of stem cell-derived human islets for the potential cure of type 1 diabetes, for $950M in cash. The transaction should close next quarter.

VRTX

Boehringer Ingelheim launches mid-stage study of new CF treatment

Privately held Boehringer Ingelheim announces the start of enrollment in a Phase 2 clinical trial evaluating different doses of BI 1265162, an epithelial sodium channel inhibitor delivered via the Respimat inhaler, in cystic fibrosis (CF) patients regardless of their mutation status. The primary endpoint of the 98-subject study is the change from baseline in forced expiratory volume in one second (FEV1), a measure of lung function, up to four weeks. The estimated completion date is September 2020. BI 12651621 is designed to keep the airways hydrated and less clogged with mucus via blocking the absorption of sodium. The company says the slow-moving mist delivered by Respimat helps patients inhale the medicine. CF-related tickers: Vertex Pharmaceuticals (VRTX -0.8%), AbbVie (ABBV +0.1%), Proteostasis Therapeutics (PTI +1.2%), Arrowhead Pharmaceuticals (ARWR)

VRTX

BofA Merrill Lynch sees 25% upside in Vertex in after-hours analyst action

Moleculin Biotech (NASDAQ:MBRX) resumed with Outperform rating and $2 (94% upside) price target at Oppenheimer. Shares up 4% after hours. Vertex Pharmaceuticals (NASDAQ:VRTX) resumed with Buy rating and $220 (25% upside) price target at BofA Merrill Lynch. Regeneron Pharmaceuticals (NASDAQ:REGN) resumed with Neutral rating and $325 (9% upside) price target at BofAML. Merck (NYSE:MRK) resumed with Neutral rating and $90 (7% upside) price target at BofAML. Pfizer (NYSE:PFE) resumed with Neutral rating and $37 (2% upside) price target at BofAML. Eli Lilly (NYSE:LLY) resumed with a Buy rating and $133 (23% upside) price target at BofAML. Gilead Sciences (NASDAQ:GILD) resumed with Neutral rating and $70 (7% upside) price target at BofAML. Bristol-Myers Squibb (NYSE:BMY) resumed with Buy rating and $60 (16% upside) price target at BofAML. BioMarin Pharmaceutical (NASDAQ:BMRN) resumed with Buy rating and $90 (32% upside) price target at BofAML. Shares up 1% after hours. Amgen (NASDAQ:AMGN) resumed with Neutral rating and $215 (6% upside) price target at BofAML. Biogen (NASDAQ:BIIB) resumed with Underperform rating and $200 (12% downside risk) price target at BofAML. Shares down a fraction after hours.

VRTX

European advisory group backs expanded label for Vertex's Kalydeco

The European Medicines Agency's advisory group CHMP has adopted a positive opinion recommending revised labeling for Vertex Pharmaceuticals' (NASDAQ:VRTX) cystic fibrosis (CF) med Kalydeco (ivacaftor). The new labeling, if approved by the European Commission (EC), includes the approval a new 25 mg strength and an extension to the existing indication to include infants at least six months old and weighing from 5 kg to less than 25 kg. A final decision from the EC usually takes ~60 days.

VRTX

Vertex's Symdeko nabs reimbursement in Australia

Vertex Pharmaceuticals (NASDAQ:VRTX) announces that reimbursement has been established in Australia for cystic fibrosis med Symdeko (tezacaftor/ivacaftor and ivacaftor) for patients at least 12 years old who are homozygous for the F508del mutation or who have one copy of the F505del mutation and another responsive residual function mutation in the CFTR gene. The company says its cystic fibrosis medicines are reimbursed in 17 countries around the world.

VRTX

Vertex Pharma's Trikafta to cost $311K per year

Vertex Pharmaceuticals (NASDAQ:VRTX) has established a wholesale price of $23,896 per 28-day pack of just-approved Trikafta (elexacaftor/tezacaftor and ivacaftor). The cystic fibrosis (CF) med will cost ~$311.5K per year. Considering the earlier-than-expected FDA nod, the company has increased its 2019 CF product revenue guidance to $3.70B - 3.75B from $3.60B - 3.70B. Shares will resume trading at 4:20 pm ET. Update: Shares are up 1% on resumption of trade.

VRTX

Vertex Pharma +4.1% on Trikafta approval

Vertex Pharmaceuticals (NASDAQ:VRTX) has legged up to a session high today, +4.1%, after receiving FDA approval for its Trikafta therapy for patients with the most common cystic fibrosis mutation. Trikafta (elexacaftor/ivacaftor/tezacaftor) is the first triple combination therapy available for that indication. It's approved for patients 12 and up with cystic fibrosis who have at least one F508del mutation in the cystic fibrosis transmembrane conductance regulator gene -- estimated to represent 90% of the cystic fibrosis population. Updated 3:01 p.m.: Vertex was halted at 2:59 p.m. for news pending, up 4.4%. Update: Trading will resume at 4:20 pm ET.

VRTX

Reimbursement set in Spain for Vertex Pharma CF meds

The Spanish government has OK'd the terms for national reimbursement of Vertex Pharmaceuticals' (VRTX +0.2%) Orkambi (lumacaftor/ivacaftor) and Symkevi (tezacaftor/ivacaftor), combined with Kalydeco (ivacaftor), for eligible cystic fibrosis patients, believed to be ~600 people nationwide.

VRTX

NHS England on board with Vertex CF meds

England's National Health Service (NHS) has agreed to add all currently licensed cystic fibrosis (CF) drugs from Vertex Pharmaceuticals (NASDAQ:VRTX), including future indications, to its formulary for routine access. The company has also established reimbursement in Scotland, Australia and Spain.

VRTX

CRISPR Therapeutics up 5% on advancement of key programs & collaborations

CRISPR Therapeutics (CRSP +4.7%) is up on modestly higher volume this morning on the heels of its Q3 report that featured progress on multiple programs and a big jump in collaboration revenue driven principally by its partnership with Vertex Pharmaceuticals (VRTX -0.7%) in cystic fibrosis (CF). Revenue: $211.9M (+999%); net income: $138.4M (+373%); EPS: $2.40 (+324%). Enrollment is ongoing in a Phase 1/2 study of allogeneic CAR-T candidate CTX001 in patients with transfusion-dependent beta thalassemia and severe sickle cell disease. Preliminary data should be available in December. Dosing is underway in a Phase 1/2 study of allogeneic CAR-T candidate CX110 in patients with CD19+ malignancies. A Phase 1/2 trial assessing CAR-T candidate CTX120 in multiple myeloma patients should launch in H1 2020. Collaboration partner Vertex Pharmaceuticals has exercised its options to exclusively in-license three additional CF targets using CRISPR-based gene editing. The company will receive $30M upfront, up to $410M in milestones and royalties on net sales. It is negotiating definitive agreements with Bayer (OTCPK:BAYRY -0.2%), expected to close this quarter, related to their joint venture, Casebia Therapeutics, aimed at developing therapies in hemophilia, ophthalmology and autoimmune diseases. CRISPR will manage preclinical development while Bayer will have opt-in rights at IND submission. Rival CRISPR/Cas9 gene editors Intellia Therapeutics (NTLA +3.2%) and Editas Medicine (EDIT +1.7%) are up as well.

VRTX

Vertex Pharmaceuticals Q3 2019 Earnings Preview

Vertex Pharmaceuticals (NASDAQ:VRTX) is scheduled to announce Q3 earnings results on Wednesday, October 30th, after market close. The consensus EPS Estimate is $1.17 (+7.3% Y/Y) and the consensus Revenue Estimate is $948.37M (+21.1% Y/Y). Over the last 2 years, vrtx has beaten EPS estimates 100% of the time and has beaten revenue estimates 88% of the time. Over the last 3 months, EPS estimates have seen 18 upward revisions and 2 downward. Revenue estimates have seen 14 upward revisions and 0 downward.

VRTX

Vertex Q3 sales up 21%, guidance affirmed

Vertex Pharmaceuticals (NASDAQ:VRTX) Q3 results: Revenues: $949.8M (+21.1%); product sales: $949.8M (+21.4%). Key product sales: Kalydeco: $249M (+0.8%); Orkambi: $297 (+5.3%); Symdeko/Symkevi: $404M (+58.4%). Net income: $57.5M (-55.3%); non-GAAP net income: $321.5M (+14.0%); EPS: $0.22 (-56.9%); non-GAAP EPS: $1.23 (+12.8%). 2019 guidance: Product sales: $3.70B - 3.75B (unch). Shares down 2% after hours. Previously: Vertex Pharmaceuticals EPS beats by $0.07, beats on revenue (Oct. 30)

VRTX

Vertex Pharmaceuticals EPS beats by $0.07, beats on revenue

Vertex Pharmaceuticals (NASDAQ:VRTX): Q3 Non-GAAP EPS of $1.23 beats by $0.07; GAAP EPS of $0.22 misses by $0.51. Revenue of $949.8M (+21.1% Y/Y) beats by $1.42M. Press Release

VRTX

Boston nonprofit playing big role in drug pricing

The Institute for Clinical and Economic Review (ICER), a Boston-based nonpartisan nonprofit with no policy-making role, has emerged as a major influencer on pricing by drugmakers. Examples include Sanofi (SNY +0.6%) and Regeneron Pharmaceuticals' (REGN +0.3%) high cholesterol med Praluent initially priced at $14,600/year, now $4,500 after rebates (heavily influenced by Amgen's (AMGN -0.8%) Repatha, though), Amgen's migraine med Aimovig (erenumab-aooe), $6,900 from $10,000 and Novartis' (NVS +0.6%) SMA gene therapy Zolgensma, $2.1M from estimates as high as $5M. The pricing moderator appears to be ICER's economic model aimed at determining the fair price for medical care based on a concept called QALY or quality-adjusted life-year. It puts a dollar figure on a year of healthy life, calculates how much health a drug restores to a sick patient, then determines the fair price for the value delivered up to a maximum of $150K (based on how much Americans are willing to pay for healthcare and how much healthcare expenditure compares to per-capita income around the world). The QALY concept has been used for over 50 years in various countries but, unsurprisingly, not so much in the U.S. since drug firms have long-opposed such models due to the perception that such pricing systems could lead Medicare to refuse payment for pricey meds. Praluent's net price is consistent with ICER's recommended range for high-risk patients ($4,500 - 8,000) as is Aimovig with its recommended price for migraine sufferers. Countries use a wide range of QALY thresholds, however, from Belgium's ~$190K to Thailand's, a small fraction of Belgium's. ICER's initially focused on pricey procedures, like new radiation therapies, but switched to drugs when Gilead Sciences (GILD +0.7%) launched hepatitis C med Sovaldi in 2013 at $1,000 per pill. Selected tickers: BIB, THW, ARKG, IXJ, BIS, XLV, IDNA, JNJ, PFE, MRK, LLY, BIIB, VRTX, OTCQX:RHHBY, ABBV, NVO, TEVA, TAK, BHC, AZN, GSK, BMY, AGN

VRTX

SunTrust sees 16% upside in Amgen in premarket analyst action

Alexion Pharmaceuticals (NASDAQ:ALXN) initiated with Buy rating and $125 (15% upside) price target at SunTrust. Amgen (NASDAQ:AMGN) initiated with Buy rating and $256 (16% upside) price target at SunTrust. Arcus Biosciences (NYSE:RCUS) initiated with Buy rating and $20 (162% upside) price target at SunTrust. BioMarin Pharmaceutical (NASDAQ:BMRN) initiated with Buy rating and $110 (46% upside) price target at SunTrust. Biogen (NASDAQ:BIIB) initiated with Buy rating and $337 (15% upside) price target at SunTrust. Shares up 1% premarket. BioXcel Therapeutics (NASDAQ:BTAI) initiated with Buy rating and $24 (500% upside) price target at SunTrust. CONMED (NASDAQ:CNMD) initiated with Overweight rating and $136 (24% upside) price target at JPMorgan. Fate Therapeutics (NASDAQ:FATE) initiated with Buy rating and $25 (72% upside) price target at SunTrust. Shares up 1% premarket. Gilead Sciences (NASDAQ:GILD) initiated with Hold rating and $70 (8% upside) price target at SunTrust. PTC Therapeutics (NASDAQ:PTCT) initiated with Buy rating and $78 (89% upside) price target at SunTrust. Regeneron Pharmaceuticals (NASDAQ:REGN) initiated with Hold rating and $360 (5% upside) price target at SunTrust. Stoke Therapeutics (NASDAQ:STOK) initiated with Buy rating and $46 (54% upside) price target at BTIG Research. Vertex Pharmaceuticals (NASDAQ:VRTX) initiated with Buy rating and $235 (16% upside) price target at SunTrust. Teva Pharmaceutical Industries (NYSE:TEVA) upgraded to Neutral with an $8 (14% downside risk) price target at JPMorgan. AcelRx Pharmaceuticals (NASDAQ:ACRX) downgraded to Neutral with a $2 (12% upside) price target at Credit Suisse. Shares up 3% premarket. Amneal Pharmaceuticals (NYSE:AMRX) downgraded to Underweight at JPMorgan. Shares down 3% premarket. Cellular Biomedicine (NASDAQ:CBMG) downgraded to Neutral with a $19 (6% upside) price target at Baird. Shares up 2% premarket. CytomX Therapeutics (NASDAQ:CTMX) downgraded to Neutral with an $8 (33% upside) price target at Wedbush. Shares down 2% premarket. EyePoint Pharmaceuticals (NASDAQ:EYPT) downgraded to Neutral at H.C. Wainwright.

VRTX

Vertex teams up with Molecular Templates in HSCT conditioning regimens

Vertex Pharmaceuticals (NASDAQ:VRTX) will collaborate with Molecular Templates (NASDAQ:MTEM) to discover and develop novel targeted conditioning regimens aimed at enhancing the process of hematopoietic stem cell transplantation (HSCT), including transplants conducted as part of treatment with gene therapy candidate CTX001, in Phase 1/2 development with CRISPR Therapeutics (NASDAQ:CRSP) for transfusion-dependent beta thalassemia and sickle cell disease. The parties will focus their efforts on discovering a new conditioning regimen leveraging MTEM's engineered toxin body platform, designed to boost the successful engraftment of new cells by selectively targeting and removing specific cells that can interfere with the process. Under the terms of the agreement, VRTX will pay MTEM $38M upfront, including an equity investment, up to $522M in milestones and tiered royalties on net sales on up to two targets. VRTX will have the option to exclusively license the molecules against the designated targets for any indication. MTEM is up 13% premarket on light volume.

VRTX

CRISPR Therapeutics down 4% premarket on initial CTX001 data

CRISPR Therapeutics (NASDAQ:CRSP) slips 4% premarket on light volume following its announcement of preliminary data on two patients with severe blood disorders treated with gene therapy CTX001 in Phase 1/2 studies. One patient with transfusion-dependent beta thalassemia who required 16.5 transfusions/year received CTX001 in Q1, followed by neutrophil engraftment (33 days after CTX001 infusion) and platelet engraftment (37 days after CTX001 infusion). At month nine, the patient was transfusion independent with total hemoglobin levels of 11.9 g/dL (normal range for women: 12.0 - 15.5 g/dL, men: 13.5 - 17.5 g/dL), 10.1 g/dL fetal hemoglobin, and 99.8% F-cells (erythrocytes expressing fetal hemoglobin). On the safety front, two serious adverse event occurred: pneumonia in the presence of neutropenia and veno-occlusive liver disease, both subsequently resolved and neither considered CTX001-related. One patient with sickle cell disease (SCD) who experienced seven vaso-occlusive crises (VOCs) per year received CTX001 followed by neutrophil and platelet engraftment 30 days later. At month four, the patient was VOC-free with total hemoglobin levels of 11.3 g/dL, 46.6% fetal hemoglobin and 94.7% F-cells. Three serious adverse events occurred: sepsis in the presence of neutropenia, cholelithiasis (formation of gallstones) and abdominal pain, all subsequently resolved and none considered related to CTX001. The company explains that participants in the trials have progenitor cells collected from peripheral blood. They are edited with CRISPR/Cas9, then reinfused back into the patient as part of a stem cell transplant that includes myeloablative busulfan conditioning (bone marrow is destroyed with chemo and radiation), a very intensive process with side effects, some serious. CRSP will host a conference call this morning at 8:00 to discuss the results. Related ticker: Vertex Pharmaceuticals (NASDAQ:VRTX)

VRTX

EC OKs expanded label for Vertex's Kalydeco

The European Commission (EC) approves the use of Vertex Pharmaceuticals' (NASDAQ:VRTX) Kalydeco (ivacaftor) in infants with cystic fibrosis (CF) ages six months to less than 12 months weighing at least 5 kg who have at least one of the following nine mutations in their cystic fibrosis transmembrane conductance regulator (CFTR) gene: G551D, G1244E, G1349D, G178R, G551S, S1251N, S1255P, S549N or S549R. Previously, Kalydeco was approved for patients at least one year old with one of the mutations (in addition to CF patients at least 18 years old with the R117H mutation in the CFTR gene and patients at least 12 years old with the F508del mutation in the CFTR gene).

VRTX

House passes drug pricing bill, Senate unlikely to support

By a 230-192 margin, the U.S. House of Representatives has passed legislation, championed by Speaker Nancy Pelosi, aimed at corralling spiralling drug costs. The bill's key provision would allow the feds to negotiate prices for expensive drugs that lack competition. A minimum of 50 medicines each year would be subject to talks. A last-minute addition was a feasibility study to extend rebates for drug prices that increase faster than inflation to employer-sponsored coverage. The bill has almost no chance to pass in the Republican-controlled Senate, however. Selected tickers: BIB, THW, ARKG, IXJ, BIS, JNJ, XLV, XBI, PFE, MRK, PFE, ABBV, LLY, BIIB, VRTX, OTCQX:RHHBY, NVO, TEVA, NVO, TAK, BHC, NVS, AZN, GSK, BMY, AGN, AMGN, GILD

VRTX

Drugmakers to hike U.S. prices of over 200 meds

Reuters reports that pharmaceutical companies, including Pfizer (NYSE:PFE), GlaxoSmithKline (NYSE:GSK) and Sanofi (NASDAQ:SNY), are planning to raise prices on more than 200 medicines in the U.S. tomorrow. The price hikes are expected to be relatively modest, almost all below 10% and half between 4 - 6%. Pfizer intends to boost prices on more than 50 drugs, including breast cancer med Ibrance (palbociclib) and arthritis/UC med Xeljanz (tofacitinib). A spokesperson stated that the average increase will be 5.6%. GSK plans to raise prices on more than 30 medicines by 1 - 5%. Sanofi will follow suit on ~10 drugs by 1 - 5%. According to healthcare research shop 3 Axis Advisors, Teva Pharmaceutical Industries (NYSE:TEVA) raised prices on more than 15 drugs by more than 6%. Selected tickers: BIB, THW, ARKG, BME, GRX, IXJ, BIS, CHNA, IDNA, GDNA, KMED, XBI, XLV, BMY, AMGN, BIIB, GILD, VRTX, MRK, LLY, AZN, AGN, JNJ, ABBV, TAK, NVS, OTCQX:RHHBY, NVO

VRTX

Vertex Pharmaceuticals Q4 2019 Earnings Preview

Vertex Pharmaceuticals (NASDAQ:VRTX) is scheduled to announce Q4 earnings results on Thursday, January 30th, after market close. The consensus EPS Estimate is $1.21 (-6.9% Y/Y) and the consensus Revenue Estimate is $1.01B (+16.2% Y/Y). Over the last 2 years, VRTX has beaten EPS estimates 100% of the time and has beaten revenue estimates 88% of the time. Over the last 3 months, EPS estimates have seen 16 upward revisions and 5 downward. Revenue estimates have seen 11 upward revisions and 5 downward.

VRTX

Vertex up 3% after hours on Q4 beat, strong Trikafta launch

Vertex Pharmaceuticals (NASDAQ:VRTX) Q4 results: Revenues: $1,413.3M (+62.4%); product sales: $1,413.3M (+62.8%). Key product sales: Kalydeco: $236M (-8.9%); Orkambi: $270 (-14.3%); Symdeko/Symkevi: $332M (+12.9%); Trikafta: $420M. Net income: $583.2M (-61.8%); non-GAAP net income: $444.3M (+31.9%); EPS: $2.23 (-62.6%); non-GAAP EPS: $1.70 (+30.8%). 2020 guidance: Product sales: $5.1B - 5.3B from $3.70B - 3.75B. Shares up 3% after hours.  Vertex Pharmaceuticals EPS beats by $0.48, beats on revenueÂ

VRTX

Vertex Pharmaceuticals EPS beats by $0.48, beats on revenue

Vertex Pharmaceuticals (NASDAQ:VRTX): Q4 Non-GAAP EPS of $1.70 beats by $0.48; GAAP EPS of $2.23 beats by $1.47. Revenue of $1.26B (+44.9% Y/Y) beats by $250M. Shares +4.2%. Press Release

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Vertex backs 2020 forecast

Vertex Pharmaceuticals (VRTX -4.3%) says the COVID-19 outbreak has not negatively impacted its supply chain or 2020 outlook, adding that has safety stock to account for potential disruptions and has secured second-source suppliers in a range of geographies. 2020 guidance issued on January 30: Product sales: $5.1B - 5.3B.

VRTX

Jefferies calls out 11 opportunities amid sell-off

Jefferies Research sees some "particularly compelling opportunities" arising from the recent broad sell-off. Its analysts' top ideas call out higher-quality names, that are generally larger cap, have strong balance sheets, produce strong cash flows and offer differentiation vs. their peers. Jefferies current price targets implies average upside potential of 38%. Highlighted stocks are: Amazon (NASDAQ:AMZN), Activision Blizzard (NASDAQ:ATVI), BlackRock (NYSE:BLK), Home Depot (NYSE:HD), Linde (NYSE:LIN), Mondelez (NASDAQ:MDLZ), Microsoft (NASDAQ:MSFT), Truist Financial (NYSE:TFC), Texas Instruments (NASDAQ:TXN), Vulcan Materials (NYSE:VMC), and Vertex Pharmaceuticals (NASDAQ:VRTX). Some comments on the picks: For Linde, "once the market stabilizes, investors will begin to emphasize earnings visibility amid uncertainty, which should support multiple expansion," writes analyst Laurence Alexander. Analyst Rob Dickerson likes Mondelez for "its long-term growth potential, strong balance sheet and its coffee JV interests, which provide MDLZ with strategic optionality, capital-sourcing, and value-creation upside." For BlackRock, "Capital returns should remain strong with at least $1.2B of buybacks in 2020 and current dividend yield of approx. 3.3%," says analyst Dan Fannon. Analyst Alex Giaimo sees two straight years of double-digit EPS growth for Activision and 22% stock upside driven by a combination of numbers moving higher and multiple expansion.

VRTX

Key events next week - healthcare

Assuming no COVID-19 cancellations, here is a list of noteworthy events during the week of March 15 - 21 for healthcare investors: MONDAY (3/16): IPO lockups expire for Envista Holdings (NYSE:NVST) and IGM Biosciences (NASDAQ:IGMS). TUESDAY (3/17): American Burn Association Annual Meeting, Orlando (4 days). FDA action date for Eton Pharmaceuticals' (NASDAQ:ETON) ET-105 (unlikely to be met due to a request from the agency changes to the Dosage and Administration section of the proposed Prescribing Information and a human factors study with the revised labeling). IPO lockup expires for Exagen (NASDAQ:XGN). THURSDAY (3/19): FDA action date for Vertex Pharmaceuticals' (NASDAQ:VRTX) elexacaftor/tezacaftor/ivacaftor for cystic fibrosis. FRIDAY (3/20): American Academy of Dermatology Annual Meeting, Denver (5 days). Arcutis Biotherapeutics (NASDAQ:ARQT): ARQ-151 in plaque psoriasis. Brickell Biotech (NASDAQ:BBI): Phase 3 data on sofpironium bromide for primary axillary hyperhidrosis present by development partner Kaken Pharmaceutical Co. Muscular Dystrophy Association Clinical & Scientific Conference, Orlando (5 days).

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Healthcare stocks set for rally today

A wide range of healthcare stocks are up premarket as the broad market is poised to jump out of the gate this morning after the recent selloff. Selected tickers: AbbVie (NYSE:ABBV) (+5%), Pfizer (NYSE:PFE) (+6%), Merck (NYSE:MRK) (+2%), Bristol-Myers Squibb (NYSE:BMY) (+4%), Eli Lilly (NYSE:LLY) (+4%), Novartis (NYSE:NVS) (+8%), GlaxoSmithKline (NYSE:GSK) (+2%), AstraZeneca (NYSE:AZN) (+4%), Biogen (NASDAQ:BIIB) (+3%), Amgen (NASDAQ:AMGN) (+4%), Vertex Pharmaceuticals (NASDAQ:VRTX) (+4%), SPDR S&P Biotech ETF (NYSEARCA:XBI) (+5%), Healthcare Select Sector SPDR Fund (NYSEARCA:XLV) (+4%)

VRTX

Vertex Pharma says supply chain OK

Vertex Pharmaceuticals (NASDAQ:VRTX) confirms that its supply chain and product supply have not been interrupted due to the coronavirus pandemic and it is confident in its operations going forward. Reiterating its statement on March 9, its 2020 outlook remains as is. Shares up a fraction premarket.

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Bristol-Myers Squibb to provide medicines to the unemployed and uninsured

New COVID-19 initiatives/developments from healthcare companies include Bristol-Myers Squibb's (NYSE:BMY) expansion of its existing patient support program aimed at helping unemployed U.S. patients who have lost their health insurance coverage due to the pandemic. The company is offering its branded medicines at no charge, including those prescribed via telehealth services. Shares up 2% premarket. Karyopharm Therapeutics (NASDAQ:KPTI) plans to launch a global clinical trial evaluating low-dose Xpovio (selinexor) in severely ill hospitalized COVID-19 patients. Teva Pharmaceutical Industries (NYSE:TEVA) Canadian unit and Huddol are offering free virtual personal assistance services to families for 30 days via Huddol.com during the pandemic supported by funding from Teva. Afterward, services will be available at a discount. Shares up 3% premarket. Infinity Pharmaceuticals (NASDAQ:INFI) expects enrollment to be delayed in its clinical trials as well as new site activations. Supply chain unaffected thus far. Walgreens (NASDAQ:WBA) is working to expand drive-through COVID-19 testing to 15 locations in seven states (AZ, FL, IL, KY, LA, TN and TX). The sites will use Abbott's (NYSE:ABT) ID NOW rapid test. WBA and ABT both up 1% premarket. Tauriga Sciences (OTCPK:TAUG) will collaborate with Aegea Biotechnologies to develop a rapid PCR test for SARS-CoV-2. IQVIA (NYSE:IQV) launches a registry, IQVIA CARE Project, aimed at advancing understanding of the disease. Vertex Pharmaceuticals' (NASDAQ:VRTX) non-profit charitable foundation to donate $5M to support global relief efforts.

VRTX

Barron's doubles down on 12 YTD winners

Barron's is out with a simple stock screen today that is pretty simple, but also fairly intriguing. The publication ran a screen for S&P 500 companies who have outperformed the index by at least 13 percentage points this year (positive return YTD) and that Wall Street analysts expect to continue growing their earnings in 2020 and over the next five years. The dozen that were churned up by the screen are Akamai Technologies (AKAM -2.1%), Arista Networks (ANET -3.8%), Cabot Oil & Gas (COG -0.2%), Citrix Systems (CTXS -0.0%),  Dollar General (DG +0.6%),  Gilead Sciences (GILD +1.4%),  Nasdaq (NDAQ -4.6%),  Newmont (NEM +4.8%), Old Dominion Freight Line (ODFL -3.9%), Steris (STE -3.1%), Vertex Pharmaceuticals (VRTX +0.9%) and Walmart (WMT +1.8%).

VRTX

Reimbursement set in Switzerland for Vertex CF meds

The Swiss Federal Social Insurance Office has agreed to reimburse Vertex Pharmaceuticals' (NASDAQ:VRTX) Orkambi (lumacaftor/ivacaftor) and Symdeko  (tezacaftor/ivacaftor and ivacaftor) for eligible patients in Switzerland living with cystic fibrosis (CF). The agreement with the government payer also provides for possible rapid patient access to a triple combo regimen (elexacaftor/tezacaftor/ivacaftor and ivacaftor) that is currently under regulatory review there (application filed on March 24).