Wolfe Research initiated coverage of Vertex Pharmaceuticals with an Outperform rating and $515 price target. The company’s cystic fibrosis franchise is durable and should continue to drive profitability for Vertex Pharmaceuticals, the analyst tells investors in a research note. Wolfe adds that it is modeling the new launches conservatively but also sees “clear rationale” for upside surprises, and while the stock is trading at a premium enterprise value to expected EBITDA, it is justified given that the company has the highest cash flow margin among peers.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on VRTX:
- Vertex Pharmaceuticals COO Arbuckle sells over $1.8M in shares
- Vertex announces EC grants conditional marketing authorization to Casgevy
- Vertex Pharmaceuticals price target raised to $465 from $420 at Argus
- Crispr Therapeutics price target lowered to $120 from $160 at Truist
- Vertex Pharmaceuticals price target lowered to $371 from $378 at Canaccord