Vertex Pharmaceuticals upgraded to Outperform from Perform at Oppenheimer

Oppenheimer upgraded Vertex Pharmaceuticals (VRTX) to Outperform from Perform with a $540 price target Heading into 2026, the firm is optimistic about povetacicept and inaxaplin, saying both hold blockbuster potential and could establish a dominant renal franchise to diversify Vertex’s longer-term revenue streams. 2026 expectations have now been reset, the analyst tells investors in a research note. Opco continues to view Vertex’s cystic fibrosis franchise as a “solid pillar of growth” with limited near-term concerns around loss of exclusivity or competitive headwinds.