Bank of America Securities analyst Tazeen Ahmad has reiterated their bullish stance on VRTX stock, giving a Buy rating today.
Tazeen Ahmad has given his Buy rating due to a combination of factors related to the promising outlook for Vertex Pharmaceuticals’ new product, Journavx. The survey conducted among key opinion leaders (KOLs) indicates strong demand for Journavx, with an estimated 3,400 scripts expected to be written in the next 12 months. This demand is driven by the need for effective analgesic treatments, as 75% of patients require stronger options than over-the-counter medications.
Furthermore, early data shows positive pharmacy access, with a majority of patients receiving the medication promptly. Although official formulary coverage policies are still pending, the anticipation of favorable policies could enhance in-patient estimates. The revised financial projections, including increased sales estimates and peak penetration rates, contribute to the Buy rating and the new price objective of $567, reflecting confidence in the product’s market potential.
According to TipRanks, Ahmad is an analyst with an average return of -3.7% and a 44.44% success rate. Ahmad covers the Healthcare sector, focusing on stocks such as Vertex Pharmaceuticals, Sarepta Therapeutics, and Ascendis Pharma.