Truist analyst Joon Lee lowered the firm’s price target on Vertex Pharmaceuticals (VRTX) to $460 from $550 and keeps a Buy rating on the shares. The firm moderates its view of the odds of success of suzetrigine in chronic pain to 30% from 60% after “disappointing” Phase 2 results in lumbosacral radiculopathy. The early approval of vanza triple, or Alyftrek, is “positive, but was largely expected,” adds the analyst, who sees upside from pipeline updates in 2025.
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Read More on VRTX:
- Vertex Pharmaceuticals price target raised to $430 from $426 at Scotiabank
- Vertex black box warning for Alyftrek ‘somewhat a surprise,’ says Barclays
- Vertex Pharmaceuticals price target lowered to $500 from $503 at JPMorgan
- Vertex Pharmaceuticals Gains FDA Approval for Cystic Fibrosis Drug
- Vertex announces FDA approval of Alyftrek