Vertex's Alpine Acquisition: Unpacking Analyst Predictions on Povetacicept's Potential Impact
Vertex's Alpine Acquisition: Unpacking Analyst Predictions on Povetacicept's Potential Impact
On Wednesday, Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) agreed to acquire Alpine Immune Sciences Inc (NASDAQ:ALPN) for $65 per share or approximately $4.9 billion in cash.
週三，Vertex Pharmicals Incorporated（納斯達克股票代碼：VRTX）同意以每股65美元或約49億美元現金收購阿爾卑斯免疫科學公司（納斯達克股票代碼：ALPN）。
Evercore notes the deal as a surprise move as it is unusual for Vertex, which has often been critiqued for capital allocation, building up piles of cash amounting to $13.7 billion before the acquisition.
Evercore指出，這筆交易是一個出人意料的舉動，因爲這對於經常因資本配置而受到批評的Vertex來說是不尋常的，在收購前積累了總額爲137億美元的現金。
The analyst notes it as a solid acquisition and aligned with Vertex's emerging footprint in nephrology following the advancement of inaxaplin in APOL1-mediated kidney disease and early-stage candidate VX-407 for autosomal dominant polycystic kidney disease.
該分析師指出，這是一次穩健的收購，與Vertex繼inaxaplin在APOL1介導的腎臟疾病中的進展以及常染色體顯性遺傳性多囊腎病的早期候選藥物 VX-407 的進展之後在腎臟病領域的新興足跡一致。
Related: Vertex's Next-Generation Cystic Fibrosis Program Shows Efficacy With Reduced Burden, Provides Growth Opportunity: Goldman Sachs.
相關：Vertex 的下一代囊性纖維化項目顯示出療效，減輕負擔，提供增長機會：高盛。
Evercore analyst sees Alpine's lead molecule, povetacicept (ALPN-303), to be fourth to market in this class behind Otsuka's sibeprenlimab, Vera Therapeutics Inc (NASDAQ:VERA) atacicept, and Novartis AG's (NYSE:NVS) zigakibar.
Evercore分析師認爲，阿爾派的主導分子povetacicept（ALPN-303）在該類別中排名第四，僅次於大冢的sibeprenlimab、Vera Therapeutics Inc（納斯達克股票代碼：VERA）atacept和諾華股份公司（紐約證券交易所代碼：NVS）的zigakibar。
Evercore analyst writes that Povetacicept alone can add over $5 billion to the top line, and it models conservatively for indications beyond IgAN.
Evercore分析師寫道，僅Povetacicept就能使收入增加超過50億美元，而且它對iGaN以外的適應症進行了保守的建模。
The analyst upgraded the stock from In-line to Outperform, with a price target of $438.
該分析師將該股從同比上調至跑贏大盤，目標股價爲438美元。
BofA writes, "We think Vertex is putting its money to good work, particularly given its strong balance sheet where investors have been waiting for BD to create additional "encores" to its Cystic fibrosis (CF) pipeline. And while this is the first acquisition for Vertex of this size in quite some time, management stressed this was the right deal at the right time and to not make any readthroughs for future acquisitions."
BofA寫道：“我們認爲Vertex正在將資金投入到良好的工作中，特別是考慮到其強勁的資產負債表，投資者一直在等待BD爲其囊性纖維化（CF）產品線創造更多的 “重心”。儘管這是Vertex在相當長的一段時間內首次進行如此規模的收購，但管理層強調這是在正確的時機進行的正確交易，不要爲未來的收購做任何解讀。”
BofA maintains the Buy rating with a price target of $550 as the Alpine acquisition further bolsters Vertex's late- and early-stage clinical pipelines.
美銀維持買入評級，目標股價爲550美元，原因是對Alpine的收購進一步加強了Vertex的後期和早期臨床產品線。
William Blair suggests that Povetacicept's potential extends beyond IgAN, potentially leading to it becoming a multibillion-dollar product. Additionally, they anticipate Vertex engaging in business development to broaden its pipeline beyond cystic fibrosis.
威廉·布萊爾認爲，Povetacicept的潛力不僅限於iGaN，有可能使其成爲價值數十億美元的產品。此外，他們預計Vertex參與業務開發將擴大其產品線，使其產品線超越囊性纖維化。
Price Action: VRTX shares are up 1.29% at $402.71 on the last check Thursday.
價格走勢：在週四的最後一次支票中，VRTX股價上漲1.29％，至402.71美元。
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