Vertex Pharmaceuticals price target raised to $457 from $397 at H.C. Wainwright

H.C. Wainwright analyst Andrew Fein raised the firm’s price target on Vertex Pharmaceuticals to $457 from $397 and keeps a Buy rating on the shares. The analyst thinks Vertex’s pain data when compared to opioid and acetaminophen combo are very similar to historical studies comparing opioids with either acetaminophen or acetaminophen-opioid combinations. Although investors have focused on the difference between VX-548 and hydrocodone bitartrate/acetaminophen at the eight- hour timepoint, prescribers generally consider the impact of analgesics over a 48-hour time point, the analyst tells investors in a research note. The firm says the comparative risk/reward profile is a net positive for prescribers, despite some investor pushback.