Credit Suisse analyst Evan Seigerman started Vertex Pharmaceuticals with an Outperform rating and $209 price target. The analyst also names Vertex his top large-cap pick in U.S. Biotechnology. The company has a "differentiated growth profile" that should not only drive near-term cash flows, but also allow reinvestment in the business to support longer-term growth, Seigerman tells investors in a research note. He sees continued commercial execution, pipeline updates and guidance updates supporting the shares relative to peers.

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.