H.C. Wainwright raised the firm’s price target on Vertex Pharmaceuticals (VRTX) to $550 from $535 and keeps a Buy rating on the shares after the FDA approved Journavx for moderate-to-severe pain in adults with “a broad label.” Key opinion leaders believe Suzetrigine can be widely adopted, says the analyst, who assumes a modest penetration rate, peaking at 12% by 2032, which could drive about $3B in U.S. sales.
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