Vertex (VRTX) PT Lowered to $485 at Cantor Fitzgerald

Cantor Fitzgerald analyst Carter Gould lowered the price target on Vertex (NASDAQ: VRTX) to $485.00 (from $535.00) while maintaining a Overweight rating.

The analyst commented, "Disappointing VX-993 bunionectomy data and negative regulatory feedback on a path to a broad peripheral neuropathic pain (PNP) label (for now) for suzetrigine overshadowed a betterthan- expected 2Q print. Those dynamics warranted a reset in VRTX shares as the resulting pain strategy is now both: Narrower in scope around chronic pain (for now); More dependent on Journavx launch in the nearer term. Our lowered price target ($485 from $535) reflects this, as we have both removed '993 from our model and lowered our Journavx estimates for '25 and '26."

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