Vertex Pharmaceuticals price target lowered to $418 from $509 at Barclays

Barclays lowered the firm’s price target on Vertex Pharmaceuticals (VRTX) to $418 from $509 and keeps an Equal Weight rating on the shares. The firm says the Phase 2 painful lumbosacral radiculopathy data, failing to show any improvement versus placebo, “was the worst case scenario.” The analyst sees the “forced path” to Phase 3 in LSR “only burning more cash and creating stock volatility.”