Citi analyst Geoff Meacham has maintained their bullish stance on VRTX stock, giving a Buy rating on March 24.
Geoff Meacham has given his Buy rating due to a combination of factors related to Vertex Pharmaceuticals’ strategic advancements and potential market impact. Despite the decision to halt the advancement of VX-264 due to unmet efficacy endpoints, the company remains committed to exploring innovative treatments within the type 1 diabetes (T1D) space. The ongoing development of zimislecel, an islet cell therapy with standard immunosuppression, is particularly promising, with the phase 3 portion of the study on track for completion and plans to file for approval by 2026.
Furthermore, the potential market for zimislecel, targeting approximately 60,000 severe T1D patients, presents significant growth opportunities. Investors are also focused on the successful launches of other key products, Journavx and Alyftrek, which are expected to drive the company’s growth trajectory. With these factors in mind, the anticipated share price return of 16.7% supports the Buy rating, reflecting confidence in Vertex’s ability to capitalize on its innovative pipeline and market potential.
In another report released on March 24, J.P. Morgan also maintained a Buy rating on the stock with a $512.00 price target.