Analyst Andrew Fein from H.C. Wainwright maintained a Buy rating on Vertex Pharmaceuticals (VRTX – Research Report) and keeping the price target at $550.00.
Andrew Fein has given his Buy rating due to a combination of factors influencing Vertex Pharmaceuticals’ current and future prospects. The successful launch and adoption of Journavax in the acute pain market, with nearly 20,000 prescriptions and extensive coverage across commercial, Medicare, and Medicaid patients, highlight the company’s strong market penetration. The impact of the No Pain Act, which has facilitated broader access, further supports this positive outlook.
Additionally, Vertex’s strategic approach in its chronic pain programs, particularly the ongoing Phase 3 DPN study and plans to continue with the LSR trial despite mixed Phase 2 results, demonstrates a commitment to overcoming challenges such as high placebo responses. Furthermore, the progress in the inaxaplin Phase 3 trial, with a focus on severe patients and a clear path for accelerated approval, underscores Vertex’s potential for growth in the nephrology space. These factors collectively contribute to Fein’s optimistic view of Vertex’s stock performance.
In another report released today, Citi also maintained a Buy rating on the stock with a $575.00 price target.