RBC Capital raised the firm’s price target on Vertex Pharmaceuticals (VRTX) to $407 from $402 and keeps a Sector Perform rating on the shares. The company reported a solid quarter with reasonable guidance that should be well-received, particularly given recent large/mid-cap peer stumbles, the analyst tells investors in a research note. Vertex’s Q4 results also highlight health of the cystic fibrosis franchise, where the firm continues to see good durability with limited pricing, competition, and IP risks, which warrants some premium, RBC added.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on VRTX:
- Vertex Pharmaceuticals’ Journavx: Strategic Market Adoption and Growth Outlook
- Vertex Pharmaceuticals price target raised to $459 from $450 at Morgan Stanley
- Vertex Pharmaceuticals: Mixed Financial Performance and Future Prospects Lead to Hold Rating
- Vertex Pharmaceuticals: Hold Rating Due to Mixed Outlook and Generic Competition Risks
- Vertex Pharmaceuticals price target raised to $467 from $435 at Barclays