Analyst Mohit Bansal of Wells Fargo maintained a Hold rating on Vertex Pharmaceuticals, retaining the price target of $460.00.
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Mohit Bansal has given his Hold rating due to a combination of factors surrounding Vertex Pharmaceuticals’ current developments. The recent completion of the VX-993 Phase 2 bunionectomy trial did not conclusively demonstrate superior efficacy compared to Journavx, despite the company’s claims of greater potency. This uncertainty about efficacy, combined with the U-shaped dose response of Journavx, raises questions about the relationship between potency and actual therapeutic benefit.
Furthermore, historical data from previous trials, such as VX-150, suggest that increased potency does not necessarily translate to better outcomes, as seen with similar or even superior placebo-adjusted efficacy in some cases. These factors contribute to a cautious outlook, leading to the Hold rating, as the potential for significant improvement in efficacy remains uncertain.
Bansal covers the Healthcare sector, focusing on stocks such as Gilead Sciences, Pfizer, and Regeneron. According to TipRanks, Bansal has an average return of 3.2% and a 50.00% success rate on recommended stocks.