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.
周三，Vertex Pharmicals Incorporated（纳斯达克股票代码：VRTX）同意以每股65美元或约49亿美元现金收购阿尔卑斯免疫科学公司（纳斯达克股票代码：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，这笔交易是一个出人意料的举动，因为这对于经常因资本配置而受到批评的Vertex来说是不寻常的，在收购前积累了总额为137亿美元的现金。
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.
该分析师指出，这是一次稳健的收购，与Vertex继inaxaplin在APOL1介导的肾脏疾病中的进展以及常染色体显性遗传性多囊肾病的早期候选药物 VX-407 的进展之后在肾脏病领域的新兴足迹一致。
Related: Vertex's Next-Generation Cystic Fibrosis Program Shows Efficacy With Reduced Burden, Provides Growth Opportunity: Goldman Sachs.
相关：Vertex 的下一代囊性纤维化项目显示出疗效，减轻负担，提供增长机会：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分析师认为，阿尔派的主导分子povetacicept（ALPN-303）在该类别中排名第四，仅次于大冢的sibeprenlimab、Vera Therapeutics Inc（纳斯达克股票代码：VERA）atacept和诺华股份公司（纽约证券交易所代码：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分析师写道，仅Povetacicept就能使收入增加超过50亿美元，而且它对iGaN以外的适应症进行了保守的建模。
The analyst upgraded the stock from In-line to Outperform, with a price target of $438.
该分析师将该股从同比上调至跑赢大盘，目标股价为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写道：“我们认为Vertex正在将资金投入到良好的工作中，特别是考虑到其强劲的资产负债表，投资者一直在等待BD为其囊性纤维化（CF）产品线创造更多的 “重心”。尽管这是Vertex在相当长的一段时间内首次进行如此规模的收购，但管理层强调这是在正确的时机进行的正确交易，不要为未来的收购做任何解读。”
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.
美银维持买入评级，目标股价为550美元，原因是对Alpine的收购进一步加强了Vertex的后期和早期临床产品线。
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·布莱尔认为，Povetacicept的潜力不仅限于iGaN，有可能使其成为价值数十亿美元的产品。此外，他们预计Vertex参与业务开发将扩大其产品线，使其产品线超越囊性纤维化。
Price Action: VRTX shares are up 1.29% at $402.71 on the last check Thursday.
价格走势：在周四的最后一次支票中，VRTX股价上涨1.29％，至402.71美元。
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译文内容由第三方软件翻译。