Grifols soars on the stock market: its rival Vertex abandons the study of a treatment against liver diseases

Grifols shares are by far the most bullish this day on the Spanish stock market. Its price shoots up more than 10% in the first bars of the day. The reason? Its competitor Vertex Pharmaceuticals has halted the study with its VX-864 treatment against alpha-1 antitrypsin deficiency, a genetic liver disease in which the proteins produced by the liver are malformed.

“It is unlikely that the magnitude of the treatment effect observed in this study will translate into a substantial clinical benefit. Therefore, Vertex will take VX-864 to the final phase of development,” the US company reported.

Vertex stocks anticipate a 13% plunge for this afternoon on Wall Street following the news. On the other hand, Grifols registers what may end up being its best session on the Ibex since March of last year (on the 17th of that month it rose by 10.4%). Its shares reach maximum prices since January, about 26 euros.

In addition, the Catalan company has received the support of three analysis firms today: Barclays, Alantra and Berenberg have reiterated their recommendation to ‘buy’. Thus, Grifols has a potential of 13% in the short term in the eyes of the Bloomberg market consensus, which gives it an average target price for twelve months of 27.16 euros per share. In fact, no analyst who hedges the security gives a sell advice, while eight (32%) choose to ‘hold’ and the majority (eighteen or 68%) bet on ‘buy’.

!function(f,b,e,v,n,t,s)
{if(f.fbq)return;n=f.fbq=function(){n.callMethod?
n.callMethod.apply(n,arguments):n.queue.push(arguments)};
if(!f._fbq)f._fbq=n;n.push=n;n.loaded=!0;n.version=’2.0′;
n.queue=[];t=b.createElement(e);t.async=!0;
t.src=v;s=b.getElementsByTagName(e)[0];
s.parentNode.insertBefore(t,s)}(window, document,’script’,
‘https://connect.facebook.net/en_US/fbevents.js’);
fbq(‘init’, ‘113015305983050’);
fbq(‘track’, ‘PageView’);

Disclaimer: If you need to update/edit/remove this news or article then please contact our support team Learn more
READ ALSO:  Dani Alves is enraged by the use of VAR in Brazil: "In less than incompetent it is useless"

Leave a Reply