Vertex Pharmaceuticals price target raised to $435 from $418 at Barclays

Barclays analyst Gena Wang raised the firm’s price target on Vertex Pharmaceuticals (VRTX) to $435 from $418 and keeps an Equal Weight rating on the shares. Journavx received on time FDA approval with a broad label in moderate to severe acute pain, the analyst tells investors in a research note. The firm says the daily maintenance price of $31 was higher versus its expectation. It expects initial uptake in the post-discharge segment, with some push back on payor but benefit from favorable legislation.