Morgan Stanley lowered the firm’s price target on Vertex Pharmaceuticals (VRTX) to $439 from $460 and keeps an Equal Weight rating on the shares. Pipeline setbacks, including Journavx not advancing into a Phase 3 LSR trial and pain signal inhibitor VX-993 being found to be not differentiated in acute, likely will be a focus and drive weakness in the stock despite Vertex having posted a Q2 beat, the analyst tells investors.
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