DA Davidson assumed and downgraded Vertex Pharmaceuticals (VRTX) to Neutral from Buy with a price target of $29, down from $50. The company’s Q2 results were in-line but the guide for FY25 was revised down given the uncertain macro, even though the long-term growth outlook remains on track, driven by the ongoing ERP upgrade cycle, the analyst tells investors in a research note. To combat the cost pressures and macro, the company is reducing planned head count growth, which should give a better expense trajectory for 2026 and beyond, the firm added.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on VRTX:
- Vertex Pharmaceuticals: Hold Rating Amid Mixed Q2 Results and Pain Management Setbacks
- Vertex Pharmaceuticals: Strong Commercial Performance and Promising Future Prospects Support Buy Rating
- Vertex Pharmaceuticals: Hold Rating Amid Growth Concerns and Market Challenges
- Vertex Pharmaceuticals: Buy Rating Upgraded to Overweight Amid Promising Pipeline and Strong Financial Position
- Disney reports Q3 beat and NFL deal, Uber authorizes $20B buyback: Morning Buzz