Vertex Pharmaceuticals price target raised to $540 from $522 at BofA

BofA analyst Tazeen Ahmad raised the firm’s price target on Vertex Pharmaceuticals (VRTX) to $540 from $522 and keeps a Buy rating on the shares ahead of earnings. For the Cystic Fibrosis franchise, the near-term focus will be on the launch of Alyftrek following the recent approval, says the analyst, who notes the the firm’s doctor checks indicated significant interest in switching patients to Alyftrek once approved given the more convenient daily dosing.