Vertex could be down 10% due to LSR disappointment, says Wells Fargo

Vertex Pharmaceuticals (VRTX) data in the lumbosacral radiculopathy pain trial is likely to be seen as disappointing, as there does not seem to be any difference with placebo in pain reduction, Wells Fargo analyst Mohit Bansal tells investors in a research note. The firm, which made no change to its Overweight rating or $555 price target says the stock could be 10% on the news.