Vertex Pharmaceuticals price target raised to $530 from $475 at Evercore ISI

Evercore ISI analyst Cory Kasimov raised the firm’s price target on Vertex Pharmaceuticals (VRTX) to $530 from $475 and keeps an Outperform rating on the shares. Driven by “promising” Phase 3 IgAN data and FDA submission expectations in the first half of the year, Vertex’s povetacicept has the potential to nearly double current peak consensus estimates, the analyst tells investors.