RBC Capital raised the firm’s price target on Vertex Pharmaceuticals (VRTX) to $423 from $420 but keeps a Sector Perform rating on the shares. The company reported a solid but relatively uneventful quarter, with CF business mostly in line, though early Alyftrek conversion was lighter than the firm had expected, the analyst tells investors in a research note. Journavx did not contribute meaningfully to revenue though initial prescription data looked okay, while the mRNA CFTR program had a setback, highlighting some pipeline riskiness, RBC adds.
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