BMO Capital raised the firm’s price target on Vertex Pharmaceuticals to $500 from $480 and keeps an Outperform rating on the shares. The results of the firm’s physician survey regarding the potential usage of VX-548 and demand if/when the drug is approved as post-surgical and chronic therapies highlight the significant demand for an efficacious non-opioid alternative for pain management, the analyst tells investors in a research note. BMO adds that it is including the projected chronic pain sales to its model.
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