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Vertex a buy into Phase 3 data for VX-809, says Deutsche Bank

Deutsche Bank said it would be a buyer of Vertex shares into the company's mid-2014 Phase 3 data for VX-809. The firm expects the primary endpoint to be hit and thinks shares could trade to $103-$111 on good data. Deutsche says shares of Vertex could trade down to $30-$35 with a Phase 3 failure. It has a Buy rating on the stock with a $103 price target.