Vertex Pharmaceuticals price target raised to $465 from $420 at Argus

Argus raised the firm’s price target on Vertex Pharmaceuticals to $465 from $420 and keeps a Buy rating on the shares. The company continues to benefit from strong sales of its cystic fibrosis, CF, drug Trikafta/Kaftrio, for which it recently received a label expansion, pipeline progress, and strong cost control, the analyst tells investors in a research note. While Vertex is now able to treat the majority of cystic fibrosis patients in North America, Europe, and Australia, its management also believes that it could treat up to 90% of all people with CF if it receives approval for expanded indications, the firm added.