Vertex Pharma Off After Analysts Comment on Drug-Trial Halt

Vertex Pharmaceuticals  (VRTX) – Get Report shares dropped Thursday after the company said it’s halting development of its VX-814 drug for a lung and liver malady due to liver toxicity, and some analysts reacted negatively.

Vertex shares recently traded at $229, down 16%. They had gained 24% year to date through Wednesday amid enthusiasm for VX-814 and the Boston company’s other drugs.

As for the analysts, SVB Leerink’s Geoffrey Porges lowered his price target to $267 from $283, though he affirmed his rating at outperform.

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