Vertex Pharmaceuticals has had its price target raised by UBS to $562 from $477. UBS maintains a Buy rating on the stock after resuming coverage.

The firm highlights Vertex's strong growth in both revenue and earnings, which is driven by its successful Cystic Fibrosis business and upcoming product launches that aim to diversify its commercial portfolio. UBS analysts express confidence in the long-term potential of suzetrigine, a novel non-opioid pain medication, estimating its market potential to exceed $10 billion. Insights gathered from discussions with physicians, pain specialists, and reimbursement experts suggest that suzetrigine could represent a significant shift in pain management treatment strategies.