Vertex Pharmaceuticals price target raised to $529 from $511 at Leerink

Leerink raised the firm’s price target on Vertex Pharmaceuticals to $529 from $511 and keeps an Outperform rating on the shares. The analyst increased long-term estimates for the company’s pain portfolio following the Q1 report. The firm continues to believe the “investment community significantly underappreciates the unmet needs in acute and neuropathic pain and VRTX‘s ability to serially innovate.”