Bank of America Securities analyst Tazeen Ahmad has reiterated their bullish stance on VRTX stock, giving a Buy rating on July 14.
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Tazeen Ahmad’s rating is based on Vertex Pharmaceuticals’ robust performance across its cystic fibrosis (CF), pain, and hematology franchises. The company has shown strong revenue growth, particularly with its CF products like Trikafta, which reported significant sales in the first quarter. Despite some challenges with the switching dynamics to Alyftrek due to new liver monitoring requirements, the company remains optimistic about its long-term growth potential, especially with Alyftrek’s recent EU approval.
Additionally, the positive uptake of Journavx in the pain management sector, as indicated by a survey of pain specialists, supports the company’s growth trajectory. While there are hurdles in formulary positioning, improvements in reimbursement are expected to drive revenue growth in the latter half of the year. The initiation of cell collections for Casgevy also suggests increasing momentum in the hematology franchise. These factors contribute to the Buy rating, with a price objective of $565, reflecting confidence in Vertex’s continued commercial success.
According to TipRanks, Ahmad is an analyst with an average return of -4.8% and a 46.23% success rate. Ahmad covers the Healthcare sector, focusing on stocks such as Incyte, ACADIA Pharmaceuticals, and Ultragenyx Pharmaceutical.
In another report released on July 14, J.P. Morgan also maintained a Buy rating on the stock with a $517.00 price target.