Morgan Stanley raised the firm’s price target on Vertex Pharmaceuticals to $474 from $462 and keeps an Equal Weight rating on the shares. Suzetrigine, or VX-548, is being studied for the treatment of acute and chronic pain and is in a Phase 2 study for lumbosacral radiculopathy, or LSR, otherwise known as sciatica, the analyst noted. Based on physician feedback, the firm raised its view of the odds of success for suzetrigine in LSR to 50% from 40%. For this Phase 2 readout, the firm would expect Vertex shares to potentially trade up or down by greater than 5% based on the amount of pain reduction, the analyst added.
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