Wolfe upgrades Vertex Pharmaceuticals, says ‘may be due for a rebound’

As previously reported, Wolfe Research analyst Andy Chen upgraded Vertex Pharmaceuticals (VRTX) to Outperform from Peer Perform with a $548 price target. While the firm had previously argued that stock re-rating on the renal franchise would be delayed due to generalist involvement in chronic pain, three positive changes occurred. Namely, Otsuka priced much higher than its expectation, Vertex confirmed usage of priority review voucher and the recent momentum of Vera Therapeutics (VERA) suggests that buyside is baking in a negative-skewed result on povetacicept early 2026, says the analyst, who believes Vertex “may be due for a rebound.”