UBS analyst Michael Yee assumed coverage of Vertex Pharmaceuticals (VRTX) with a Buy rating with a price target of $535, down from $546. The firm believes the risk/reward is attractive here given the pullback in 2025 which sets up well for lots of data readouts for 2026-2027. The company is in a strong position given its core cystic fibrosis business has no patent loss-of-exclusivity until at least 2037 and beyond with a significant barrier to entry and no real competitive threat on the horizon, the analyst tells investors in a research note.
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