Bernstein raised the firm’s price target on Vertex Pharmaceuticals (VRTX) to $577 from $572 and keeps an Outperform rating on the shares. The firm said the most notable takeaway from Vertex’s latest earnings release was the absence of major updates, and specifically, that investors will need to wait a bit longer for the Phase 3 results of povetacicept. Despite the delayed timeline, Bernstein continues to recommend owning Vertex shares ahead of the upcoming data readout.
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