William Blair analyst Myles Minter has reiterated their bullish stance on VRTX stock, giving a Buy rating on September 5.
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Myles Minter’s rating is based on the recent FDA draft guidance that opens up potential pathways for the development of non-opioid analgesics for chronic pain, which is pertinent to Vertex Pharmaceuticals’ work on Journavx (suzetrigine) for peripheral neuropathic pain. Although the guidance is not yet finalized, it suggests a favorable regulatory environment for Vertex’s ongoing projects in this space.
Minter also considers the broader implications of the FDA’s openness to grouping indications for chronic pain treatments. Despite previous setbacks, such as the FDA’s decision not to pursue a broad label for peripheral neuropathic pain, the draft guidance aligns with Vertex’s strategy to focus on specific indications like diabetic peripheral neuropathy. This alignment with regulatory perspectives and the potential for expanded market opportunities underpin Minter’s Buy rating for Vertex Pharmaceuticals.
According to TipRanks, Minter is a 5-star analyst with an average return of 22.9% and a 59.68% success rate. Minter covers the Healthcare sector, focusing on stocks such as Dianthus Therapeutics, Argenx Se, and Moderna.
In another report released on September 5, BMO Capital also maintained a Buy rating on the stock with a $530.00 price target.