Vertex Pharmaceuticals price target raised by $31 at Barclays, here’s why

Barclays raised the firm’s price target on Vertex Pharmaceuticals to $446 from $415 and keeps an Overweight rating on the shares. The firm updated its model to include a valuation for VX-548 in neuropathic pain following the Phase 2 data and key opinion leader feedback on painful diabetic peripheral neuropathy. The analyst sees a large market opportunity in both neuropathic pain and acute pain and continues to expect a good chance of positive Phase 3 in acute pain in Q1.