Truist raised the firm’s price target on Vertex Pharmaceuticals to $456 from $341 and keeps a Buy rating on the shares after its Q1 results. The firm is assigning about $6B in peak sales to pipeline ahead of its multiple pipeline catalysts over the next 12-18 months, the analyst tells investors in a research note. Truist is bullish on the $8B potential peak unadjusted opportunity in pain drugs, with pivotal data expected by 2024, and the multi-billion dollar diabetes program offering "promising upcoming data readouts".
Published first on TheFly
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