Goldman Sachs analyst Terence Flynn downgraded Vertex Pharmaceuticals (VRTX) to Neutral from Buy citing the company's second straight quarterly miss for its drug Orkambi, for cystic fibrosis.

The analyst now expects shares to be range bound through year-end. He lowered his price target for Vertex to $88 from $109. The stock is traded down $1.48 to $83.02 in after-hours last night following the earnings report.