Vertex price target lowered to $535 from $600 at H.C. Wainwright

H.C. Wainwright analyst Andrew Fein lowered the firm’s price target on Vertex Pharmaceuticals (VRTX) to $535 from $600 and keeps a Buy rating on the shares after the company announced results from the Phase 2 suzetrigene in lumbosacral radiculopathy. The firm believes Vertex’s plan to continue with the Phase 3 trial with innovative approach to deal with the high placebo response is “scientifically justified.”