H.C. Wainwright raised the firm’s price target on Vertex Pharmaceuticals to $500 from $462 and keeps a Buy rating on the shares. To reflect the Alpine acquisition, the firm adjusted Vertex’s overall cash burn and reevaluated its estimates of Trikafta and VX-548. In the long term, this transaction might add accretive value yielding further upside to the base case valuation, the analyst tells investors in a research note. The firm says its key opinion leader believes ramping up collection centers to manufacturing innovations to managing fertility issues important for Casgevy adoption.
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