JPMorgan analyst Jessica Fye added Vertex Pharmaceuticals to the firm’s Analyst Focus List as a growth pick after reinstating coverage of the name with an Overweight rating and $390 price target. The analyst likes Vertex both commercially as well as from a pipeline perspective. In the near term, the firm is closely focused on the Phase III readouts for VX-548 in moderate to severe acute pain and the new vanza triple in cystic fibrosis in the late 2023 or early 2024 time frame. It sees a “dynamic time” for Vertex as the next wave of growth drivers become de-risked.
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