H.C. Wainwright lowered the firm’s price target on Vertex Pharmaceuticals (VRTX) to $478 from $550 and keeps a Buy rating on the shares. The firm updated its model to reflect the withdrawal of the company’s Phase 3 lumbosacral radiculopathy trials and the negative data from VX-993. It tempered expectations for chronic pain uptake.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on VRTX:
- Vertex Pharmaceuticals price target lowered to $439 from $460 at Morgan Stanley
- Vertex Pharmaceuticals: Strong Financials Overshadowed by Challenges in Pain Program Leading to Hold Rating
- Vertex Pharmaceuticals: Strong Financial Performance and Promising Pipeline Justify Buy Rating
- Vertex Stock (VRTX) Crashes after Pain-Drug Trial Failure Despite Strong Q2
- Vertex Pharmaceuticals: Strong Buy Rating Amid Robust Financials and Market Potential Despite Setbacks