J.P. Morgan analyst Jessica Fye maintains $Vertex Pharmaceuticals (VRTX.US)$ with a buy rating, and sets the target price at $503.
According to TipRanks data, the analyst has a success rate of 52.0% and a total average return of 6.3% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Vertex Pharmaceuticals (VRTX.US)$'s main analysts recently are as follows:
Vertex Pharmaceuticals' Q3 results exceeded consensus expectations, and the company increased its 2024 revenue guidance slightly, by approximately 1% at the midpoint. The forthcoming suzetrigine Phase 2 lumbosacral radiculopathy (LSR) data, anticipated by the end of the year, is expected to be the next significant event for the company's stock.
The company's robust performance in cystic fibrosis, which surpassed expectations and led to a raised forecast, demonstrates the ongoing strength of its fundamental business. This is expected to continue supporting the stock's premium valuation. However, there are cautions that the outlook heading into FY25 may present more challenges compared to FY24, considering that upcoming data for suzetregine is anticipated to meet effectiveness criteria but may not generate significant enthusiasm, and the introductions of acute pain treatments and Casgevy are expected to experience gradual market penetration.
Note:
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Success rate is the number of the analyst's successful ratings, divided by his/her total number of ratings over the past year. A successful rating is one based on if TipRanks' virtual portfolio earned a positive return from the stock. Total average return is the average rate of return that the TipRanks' virtual portfolio has earned over the past year. These portfolios are established based on the analyst's preliminary rating and are adjusted according to the changes in the rating.
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