Vertex Pharmaceuticals price target lowered to $500 from $503 at JPMorgan

JPMorgan lowered the firm’s price target on Vertex Pharmaceuticals (VRTX) to $500 from $503 and keeps an Overweight rating on the shares. Alyftrek’s approval with a higher U.S. price than Trikafta sets the stage for continued Cystic Fibrosis revenue growth in 2025, says the analyst following the “ahead-of-schedule but widely-expected approval.” The firm sees an attractive buying opportunity created by suzetrigine’s “underwhelming” Phase 2 results and views the stock as “likely to work higher in 2025 with two key launches and multiple potential pipeline updates,” the analyst tells investors.