Barclays lowered the firm’s price target on Vertex Pharmaceuticals (VRTX) to $418 from $509 and keeps an Equal Weight rating on the shares. The firm says the Phase 2 painful lumbosacral radiculopathy data, failing to show any improvement versus placebo, “was the worst case scenario.” The analyst sees the “forced path” to Phase 3 in LSR “only burning more cash and creating stock volatility.”
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Read More on VRTX:
- Oppenheimer downgrades Vertex after lumbosacral radiculopathy study
- Vertex Pharmaceuticals downgraded to Perform from Outperform at Oppenheimer
- Vertex Pharmaceuticals price target lowered to $400 from $451 at RBC Capital
- Vertex Pharmaceuticals price target lowered to $522 from $545 at BofA
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