Vertex Pharmaceuticals upgraded to Overweight from Equal Weight at Wells Fargo

Wells Fargo analyst Mohit Bansal upgraded Vertex Pharmaceuticals (VRTX) to Overweight from Equal Weight with an unchanged price target of $460. The firm vires the pullback in the shares as providing a good entry point. Vertex’s base business remains solid and its non-pain pipeline remains on track, the analyst tells investors in a research note. Wells believes the stock’s “catalyst path looks clean at this price.”