Terence Flynn, an analyst from Morgan Stanley, maintained the Hold rating on Vertex Pharmaceuticals (VRTX – Research Report). The associated price target remains the same with $460.00.
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Terence Flynn’s rating is based on the current market dynamics surrounding Vertex Pharmaceuticals and its product, Journavx. While the drug has shown promising results in reducing opioid use and aiding in better recovery for acute pain patients, the uptake is still limited to certain surgical centers. The reliance on free samples and copay cards indicates that broader insurance coverage is not yet fully established, which could impact the drug’s market penetration.
Additionally, the expiration of the copay assistance program by the end of 2025 poses a potential risk to patient affordability and demand. Despite the positive feedback from practitioners, the financial implications of these factors contribute to a cautious outlook, leading to a Hold rating for Vertex Pharmaceuticals’ stock.
According to TipRanks, Flynn is a 3-star analyst with an average return of 2.5% and a 52.78% success rate. Flynn covers the Healthcare sector, focusing on stocks such as BioNTech SE, Gilead Sciences, and Merck & Company.
In another report released on June 23, Canaccord Genuity also maintained a Hold rating on the stock with a $424.00 price target.