Maxim analyst Jason McCarthy raised the firm’s price target on Vertex Pharmaceuticals to $400 from $325 and keeps a Buy rating on the shares. The company’s Q1 results exceeded expectations, and its Exa-Cel may be the "next blockbuster" as the largest and most significant of Vertex’ near-term pipeline opportunities, the analyst tells investors in a research note. With the BLA submission completed, Maxim is lowering its sales risk adjustment for exa-cel, the firm added.
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