UPDATE: Citadel Securities Initiates Coverage on Vertex

Citadel Securities has published a report on Vertex (NASDAQ: VRTX) initiating coverage on the medicine developer.

In the report, Citadel Securities wrote, "We are initiating coverage of Vertex Pharmaceuticals (VRTX) with a Neutral rating and $46 price target. While the launch of Incivek for HCV is progressing well, significant revenues currently appear priced into VRTX shares."

Citadel Securities rated Vertex a Neutral with a price target of $46.00. Vertex closed Friday at $43.00.