Vertex (VRTX) PT Raised to $235 at RBC Capital

RBC Capital analyst Brian Abrahams raised the price target on Vertex (NASDAQ: VRTX) to $235.00 (from $210.00) while maintaining an Outperform rating.

The analyst commented, "Overall, an in-line quarter with continued solid commercial execution on the CF franchise and pipeline remaining on track -- which despite setting expectations for accelerating spend next year, we believe should enable maintenance of strong stock momentum coming off of recent positive developments (early triple approval and UK reimbursement) and into a year of likely revenue growth inflection. Increasing tgt to $235 on early Trikafta approval, reimbursement progress, and introduction of probability-adjusted AAT ests."

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