Vertex Pharmaceuticals price target raised to $420 from $397 at RBC Capital

RBC Capital raised the firm’s price target on Vertex Pharmaceuticals to $420 from $397 and keeps a Sector Perform rating on the shares. The company reported a “solid” Q4 earnings beat and offered a favorable top-line guidance, while its positive vanza CF data should bode well for continued CF sales, margin expansion and perceptions of Vertex as a “high-quality executor”, the analyst tells investors in a research note. RBC adds that its price target increase reflects the recent trial results and run-rates, as well as adjustments to vanza patient mix.