Trump to impose 100% tariff on China starting November 1
Investing.com - RBC Capital has raised its price target on Vertex Pharmaceuticals (NASDAQ:VRTX) to $423.00 from $405.00 while maintaining a Sector Perform rating on the stock. The biotech giant, currently trading at $412.99 with a market cap of $105.91 billion, maintains a "GREAT" financial health score according to InvestingPro analysis.
The firm expects Vertex’s Trikafta to exceed consensus estimates, projecting sales of $2.64 billion compared to the consensus of $2.59 billion, despite noting that prescriptions have shown a downward trend in recent quarters with more variable capture rates. This aligns with the company’s strong revenue growth of 10.46% over the last twelve months.
RBC also anticipates Alyftrek to slightly outperform expectations with estimated revenue of $267 million versus the consensus of $265 million, including approximately $17 million in revenue contribution from the European Union.
For Journavx, RBC estimates $31 million in revenue compared to the consensus of $24 million, citing steady growth in third-party prescriptions and an expected reduction in the free drug program through the second half of the year.
The firm believes Vertex may slightly revise its annual revenue guidance upward from the previous $11.85-12 billion range, with RBC now estimating $12.2 billion, driven by strong cystic fibrosis demand as the company prepares for upcoming trial readouts from its kidney portfolio. With analyst targets ranging from $330 to $624, investors can access detailed valuation metrics and 10+ additional key insights through InvestingPro’s comprehensive research reports.
In other recent news, Vertex Pharmaceuticals has been granted Breakthrough Therapy Designation by the U.S. Food and Drug Administration for its kidney drug, povetacicept, intended for treating IgA nephropathy. This designation is based on promising data from the Phase 2 RUBY-3 clinical trial. Additionally, Vertex has secured a reimbursement agreement in Italy for its gene-editing therapy, CASGEVY, targeting transfusion-dependent beta thalassemia and severe sickle cell disease. In analyst updates, Leerink Partners upgraded Vertex to Outperform, citing expected strong adoption of its pain medication, Journavx. Goldman Sachs reiterated its Buy rating on Vertex, highlighting the company’s diversification beyond its cystic fibrosis franchise, projecting significant sales growth by 2030. Meanwhile, BofA Securities lowered its price target for Vertex, maintaining a Neutral rating, due to a weaker fiscal year 2025 outlook and concerns about macroeconomic conditions.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.