Vertex Pharmaceuticals price target raised to $397 from $394 at RBC Capital

RBC Capital raised the firm’s price target on Vertex Pharmaceuticals to $397 from $394 but keeps a Sector Perform rating on the shares. The Phase 3 next-gen vanza CF triple combo data are imminent, and based on the firm’s latest CF estimates, the analyst sees a up 7% to down 6% potential impact on the stock, the analyst tells investors in a research note. Optimism for a favorable outcome that would show at least non-inferiority to Trikafta and prompting solid market conversion and some growth and margin expansion already looks baked in however, the firm added.