RBC Capital sees "a few short-term dynamics" that could cause Vertex's stock to be range-bound over the near-term. However, the firm continues to expect the company's EPS to reach $9 and thinks the company's triple pill "has a good chance of working." The firm notes that Phase I data for the triple pill is expected to be announced by summer. It keeps a $145 price target and Outperform rating on the shares.

Vertex Pharmaceuticals and TreeFrog Therapeutics announced that Vertex has obtained an exclusive license to TreeFrog's proprietary cell manufacturing technology, C-Stem, to optimize production of Vertex's cell therapies for type 1 diabetes, or T1D. TreeFrog and Vertex will collaborate to scale-up TreeFrog's process to produce and amplify cells for Vertex's T1D therapies. TreeFrog's proprietary technology platform, C-Stem, is designed to mimic the natural microenvironment, allowing cells to grow exponentially in 3D. The technology will enhance Vertex's ability to generate large amounts of fully differentiated cells for its portfolio of T1D cell therapies.