As previously reported, Leerink upgraded Vertex Pharmaceuticals (VRTX) to Outperform from Market Perform with a price target of $456, down from $458. Based upon a MEDACorp Journavx survey, the firm anticipates strong adoption and upward pressure on reset consensus pain revenue expectations in 2026-plus. The company’s cystic fibrosis franchise is likely to deliver solid growth, including increasing adoption of Alyftrek, and it appears durable through 2039, Leerink adds. The firm also points out that the company has a rapidly advancing pipeline that is set to diversify its revenue beyond CF, and it anticipates accelerating novel drug newsflow in 2026. Regarding the stock, Vertex shares now trade at a forward price to earnings that hasn’t been seen since 2022, Leerink adds.
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