Bernstein raised the firm’s price target on Vertex Pharmaceuticals (VRTX) to $560 from $502 and keeps a Market Perform rating on the shares. The firm notes Vertex delivered strong financial results in Q3, with revenues of $2.8B beating by 3% and EPS of $4.38 beating by 7%. The company raised FY24 topline guidance by 1%, but pipeline updates were fairly light, Bernstein adds. LSR Phase 2 data before EOY continues to be the most closely watched catalyst, the firm says.
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