As previously reported yesterday afternoon, Canaccord upgraded Vertex Pharmaceuticals (VRTX) to Hold from Sell with a price target of $424, up from $408. The company “delivered its usual top-line beat,” offset by higher R&D and SG&A investments, the analyst tells investors. The firm updated it model for the quarter and management commentary, driving its higher price target on the shares, adding that it thinks expectations are “moderating” on the pain front.
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