RBC Capital lowered the firm’s price target on Vertex Pharmaceuticals to $347 from $350 and keeps a Sector Perform rating on the shares. The company reported a “steady” quarter that highlighted its durable long-term cash flow potential, though its maturing CF franchise underscores the importance of generating outstanding clinical and commercial outcomes in its pipeline to drive significant stock upside from here, the analyst tells investors in a research note. RBC adds that its reduced price target reflects slightly lowered CF estimates, offset by increased exa-cel probability of success.
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