Truist analyst Joon Lee lowered the firm’s price target on Vertex Pharmaceuticals (VRTX) to $460 from $550 and keeps a Buy rating on the shares. The firm moderates its view of the odds of success of suzetrigine in chronic pain to 30% from 60% after “disappointing” Phase 2 results in lumbosacral radiculopathy. The early approval of vanza triple, or Alyftrek, is “positive, but was largely expected,” adds the analyst, who sees upside from pipeline updates in 2025.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on VRTX:
- Vertex Pharmaceuticals price target raised to $430 from $426 at Scotiabank
- Vertex black box warning for Alyftrek ‘somewhat a surprise,’ says Barclays
- Vertex Pharmaceuticals price target lowered to $500 from $503 at JPMorgan
- Vertex Pharmaceuticals Gains FDA Approval for Cystic Fibrosis Drug
- Vertex announces FDA approval of Alyftrek