Vertex Pharmaceuticals price target raised to $408 from $361 at Canaccord

Canaccord raised the firm’s price target on Vertex Pharmaceuticals (VRTX) to $408 from $361 and keeps a Sell rating on the shares. The firm said they delivered its usual beat-and-raise, meaning it was basically an in-line quarter. Canaccord said they remain below consensus in the near- and medium-term given ongoing quarters around launch dynamics, in acute pain in particular.