D-Wave Quantum falls nearly 3% as earnings miss overshadows revenue beat
Investing.com - Cantor Fitzgerald has lowered its price target on Vertex Pharmaceuticals (NASDAQ:VRTX) to $485.00 from $535.00 while maintaining an Overweight rating on the stock. The $101.58 billion biotech company, currently trading at $394.60, is showing signs of undervaluation according to InvestingPro Fair Value metrics.
The adjustment follows disappointing clinical data from Vertex’s VX-993 bunionectomy trials and negative regulatory feedback regarding a potential broad peripheral neuropathic pain label for suzetrigine. This news comes as InvestingPro data shows 8 analysts have revised their earnings expectations downward, though the company maintains strong revenue growth of 8.98% over the last twelve months.
Cantor Fitzgerald noted these setbacks have resulted in a narrower pain strategy for Vertex that is now more focused on chronic pain applications rather than broader indications initially hoped for by investors.
The firm’s revised outlook also reflects increased dependence on the Journavx launch in the near term, with analysts reducing their Journavx revenue estimates for 2025 and 2026.
Despite these challenges, Cantor Fitzgerald has completely removed VX-993 from its financial models while maintaining its overall positive Overweight rating on Vertex stock.
In other recent news, Vertex Pharmaceuticals reported its second-quarter 2025 earnings, surpassing analysts’ expectations. The company posted an earnings per share (EPS) of $4.52, exceeding the forecasted $4.27, which represents a 5.85% surprise. Additionally, Vertex reported revenue of $2.96 billion, surpassing the anticipated $2.91 billion. These results reflect a positive performance for the company in the recent quarter. Following the earnings release, Vertex experienced a rise in its stock during after-hours trading. These developments highlight the company’s ability to exceed market expectations. Investors may take note of these figures as they consider Vertex’s financial health.
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