Vertex Pharmaceuticals price target raised to $315 from $299 at RBC Capital

RBC Capital raised the firm’s price target on Vertex Pharmaceuticals to $315 from $299 but keeps a Sector Perform rating on the shares. The company’s pipeline portfolio remains on track, though development paths for the high-opportunity programs are likely to take time and the nearer-term programs – exa-cel, ‘548, vanza-triple – have more commercial uncertainty, the analyst tells investors in a research note. While quality should continue to command a premium valuation for the stock, with Vertex at all-time highs, there are more interesting buying opportunities elsewhere, RBC added.