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.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
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