VRTX - Vertex's Alpine Acquisition: Unpacking Analyst Predictions on Povetacicept's Potential Impact | Benzinga
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.
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.
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.
Evercore analyst sees Alpine’s lead molecule, ...