Stifel lowered the firm’s price target on Vertex Pharmaceuticals (VRTX) to $455 from $494 and keeps a Hold rating on the shares. While the quarter was “a general success from a commercial perspective,” Vertex disclosed multiple setbacks for the company’s pain program, the analyst tells investors. The stock being down 15% in the aftermarket “seems like a whole lot,” but the DPN Phase 3 readout “appears far away and we didn’t see a guidance raise either which had been a hallmark of most VRTX reports in 2023/2024,” the analyst added.
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Read More on VRTX:
- Vertex Pharmaceuticals price target lowered to $553 from $582 at UBS
- Vertex Pharmaceuticals price target lowered to $530 from $557 at BMO Capital
- Vertex price target lowered to $478 from $550 at H.C. Wainwright
- Vertex Pharmaceuticals price target lowered to $439 from $460 at Morgan Stanley
- Vertex Pharmaceuticals: Strong Financials Overshadowed by Challenges in Pain Program Leading to Hold Rating