RBC Capital analyst Brian Abrahams upgraded Vertex Pharmaceuticals (VRTX) to Outperform from Sector Perform with a price target of $546, up from $455. The firm believes the company’s near-term data will “solidify the increasingly promising prospects” of povetacicept. RBC sees potential for Vertex’s cystic fibrosis competitive overhang to be reduced following the data. The company’s CF franchise “remains strong” and should command a higher valuation in 2026, the analyst tells investors in a research note.
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