Wolfe Research analyst Andy Chen last night downgraded Vertex Pharmaceuticals (VRTX) to Peer Perform from Outperform without a price target The company’s Q1 earnings reported slower cystic fibrosis revenue and a relatively slow nonopioid pain launch, the analyst tells investors in a research note. The firm says that despite yesterday’s selloff, it still believes there may be $45 to $80 worth of pain in the stock, and that “this may be hard to justify.” Wolfe predicts Vertex’s quarterly revenue on pain will continue to be the main stock driver.
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Read More on VRTX:
- Vertex Pharmaceuticals’ Earnings Call Highlights Growth and Challenges
- Vertex downgraded to Peer Perform from Outperform at Wolfe Research
- Vertex Pharmaceuticals price target raised to $621 from $617 at Goldman Sachs
- Vertex Pharmaceuticals price target lowered to $442 from $450 at Scotiabank
- Vertex Pharmaceuticals price target raised to $464 from $462 at Morgan Stanley
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