Vertex Pharmaceuticals price target raised to $562 from $477 at UBS

UBS raised the firm’s price target on Vertex Pharmaceuticals to $562 from $477 and keeps a Buy rating on the shares after resuming coverage of the name. Vertex has best-in-sector top and bottom line growth and UBS sees continued strength from its core Cystic Fibrosis base business, with multiple product launches building the commercial diversification beyond CF, the analyst tells investors in a research note. The firm believes suzetrigine in pain has $10B+ potential long-term as a a novel, non-opioid pain medication, and has conviction in suzetrigine’s potential to be a paradigm shift for the treatment of pain based on checks with physicians, pain specialists, and reimbursement experts.