Vertex Pharmaceuticals price target raised to $424 from $417 at RBC Capital

RBC Capital analyst Brian Abrahams raised the firm’s price target on Vertex Pharmaceuticals to $424 from $417 but keeps a Sector Perform rating on the shares. The company reported an “optically sound” Q1 with worldwide sales exceeding expectations, though this was driven mainly by ex-U.S. growth that encompassed some inventory benefits, while its U.S. sales were down sequentially, the analyst tells investors in a research note.