BMO Capital lowered the firm’s price target on Vertex Pharmaceuticals (VRTX) to $530 from $557 and keeps an Outperform rating on the shares. The company’s “impressive” commercial quarter was largely offset by ‘993’s Phase 2 failure and lack of FDA alignment on PNP broad labeling for suzetrigine, the analyst tells investors in a research note. 993’s trial failure and lack of a clear path to PNP broad labeling for suzetrigine are likely to pressure Vertex at market open, the firm added.
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