Wells Fargo analyst Mohit Bansal downgraded Vertex Pharmaceuticals (VRTX) to Equal Weight from Overweight with an unchanged price target of $460. The firm sees limited upside for the shares in the near-term. Vertex lacks major catalysts this year and Wells does not believe the Alyftrek and suzetrigine launches are “needle movers” for the stock, the analyst tells investors in a research note. The firm favors shares of Gilead (GILD), AbbVie (ABBV), and Eli Lilly (LLY) to Vertex. Wells thinks Vertex may need to do more pipeline deals.
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