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CCORF Maintains Vertex Pharmaceuticals(VRTX.US) With Sell Rating, Raises Target Price to $408

Futu News ·  Nov 6 21:37  · Ratings

CCORF analyst Whitney Ijem maintains $Vertex Pharmaceuticals (VRTX.US)$ with a sell rating, and adjusts the target price from $361 to $408.

According to TipRanks data, the analyst has a success rate of 45.7% and a total average return of 5.0% over the past year.

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Furthermore, according to the comprehensive report, the opinions of $Vertex Pharmaceuticals (VRTX.US)$'s main analysts recently are as follows:

  • Following Vertex Pharmaceuticals' third-quarter results surpassing consensus estimates and the upward adjustment of its 2024 revenue forecast by approximately 1% at the midpoint, anticipation is building for the forthcoming suzetrigine Phase 2 lumbosacral radiculopathy data, which is projected to be released by the end of the year.

  • The company's robust performance in cystic fibrosis, which surpassed expectations, underscores the ongoing strength of its central business line, potentially supporting the stock's elevated valuation. However, caution is advised as the approach to FY25 might present more complexities compared to FY24. The forthcoming LSR data on suzetregine is anticipated to meet efficacy expectations, though it may not generate significant enthusiasm. Additionally, launches in the acute pain segment and for Casgevy are expected to progress at a gradual pace.

Note:

TipRanks, an independent third party, provides analysis data from financial analysts and calculates the Average Returns and Success Rates of the analysts' recommendations. The information presented is not an investment recommendation and is intended for informational purposes only.

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.

TipRanks provides a ranking of each analyst up to 5 stars, which is representative of all recommendations from the analyst. An analyst's past performance is evaluated on a scale of 1 to 5 stars, with more stars indicating better performance. The star level is determined by his/her total success rate and average return.

The above content is for informational or educational purposes only and does not constitute any investment advice related to Futu. Although we strive to ensure the truthfulness, accuracy, and originality of all such content, we cannot guarantee it.
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