Scotiabank analyst Greg Harrison lowered the firm’s price target on Vertex Pharmaceuticals (VRTX) to $442 from $450 and keeps a Sector Perform rating on the shares. The company had a “tough” Q1 print, which was driven by a miss for Alyftrek and Trikafta in cystic fibrosis, the analyst tells investors. The miss isn’t completely surprising, since the firm believes expectations for initial Alyftrek switching were too aggressive and Trikafta remains under pressure from IP infringement in Russia, the firm adds.
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