Vertex Pharmaceuticals price target lowered to $415 from $423 at RBC Capital

RBC Capital lowered the firm’s price target on Vertex Pharmaceuticals (VRTX) to $415 from $423 and keeps a Sector Perform rating on the shares. Compared to Q2, the company registered a more uneventful quarter, the analyst tells investors in a research note. Vertex’s cystic fibrosis, CF, franchise remains healthy, though slow launches elsewhere and increased spend underscore intrinsic limitations to operating leverage growth as the company diversifies, the analyst tells investors in a research note.