In a report released on December 5, Salveen Richter from Goldman Sachs maintained a Buy rating on Vertex Pharmaceuticals, with a price target of $604.00.
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Salveen Richter has given his Buy rating due to a combination of factors, primarily focusing on Vertex Pharmaceuticals’ advancements in their kidney disease treatments. The company’s dual APRIL/BAFF inhibitor, povetacicept, shows promising clinical results in reducing proteinuria, hematuria, and Gd-IgA1 levels, which are key differentiators compared to competitors like VERA’s atacicept and Otsuka’s Voyxact. The potential for accelerated approval in the first half of 2026 further strengthens the outlook for this treatment.
Additionally, the administration of povetacicept via a low-volume monthly autoinjector offers a significant convenience advantage. The management’s perspective on the pricing and label of competing products, such as Voyxact, also highlights the value proposition of Vertex’s offerings. Beyond povetacicept, the upcoming Phase 3 interim data for inaxaplin in APOL-1 mediated kidney disease and Phase 2 VX-407 in autosomal dominant polycystic kidney disease are anticipated to provide further growth opportunities. Overall, Vertex’s strong execution in the kidney disease and immunology verticals supports the Buy rating.
In another report released on December 5, Citi also maintained a Buy rating on the stock with a $575.00 price target.