Vertex Pharmaceuticals price target raised to $385 from $339 at Guggenheim

Guggenheim analyst Debjit Chattopadhyay raised the firm’s price target on Vertex Pharmaceuticals to $385 from $339 and keeps a Buy rating on the shares. With the company having established a FY23 outlook on February 7, the Q1 print "was a nonevent," says the analyst, who thinks consensus might be underestimating VX-548’s commercial outlook. The firm’s higher target follows incorporation of -548 in its model.