RBC Capital raised the firm’s price target on Vertex Pharmaceuticals (VRTX) to $407 from $402 and keeps a Sector Perform rating on the shares. The company reported a solid quarter with reasonable guidance that should be well-received, particularly given recent large/mid-cap peer stumbles, the analyst tells investors in a research note. Vertex’s Q4 results also highlight health of the cystic fibrosis franchise, where the firm continues to see good durability with limited pricing, competition, and IP risks, which warrants some premium, RBC added.
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