UPDATE: Morgan Stanley Upgrades Vertex Pharmaceuticals to Equal-Weight; Interim CF Data

Morgan Stanley raises its rating on Vertex Pharmaceuticals

from Underweight to Equal-weight and raises its price target from $28 to 51. Morgan Stanley says, "We upgrade VRTX to EW. CF data were better than anticipated, but key data unknowns still exist. We add VX-809 sales to our base case model." VRTX closed at $58.12 on Monday.