Cantor Fitzgerald has initiated coverage on Vertex Pharmaceuticals (VRTX, Financial), assigning it an Overweight rating and raising its price target from $480 to $535. This reflects confidence in Vertex's strong position within the cystic fibrosis market, bolstered by the successful extension of its franchise through Alyftrek. The analyst highlights the company's strategic advancements in this area.
In addition to its robust cystic fibrosis portfolio, Vertex is applauded for diversifying its product lineup through recent or upcoming launches that are anticipated to achieve "blockbuster potential." This diversification strategy is viewed positively as it positions the company for significant growth in the near term.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 27 analysts, the average target price for Vertex Pharmaceuticals Inc (VRTX, Financial) is $503.31 with a high estimate of $617.00 and a low estimate of $330.00. The average target implies an upside of 5.40% from the current price of $477.52. More detailed estimate data can be found on the Vertex Pharmaceuticals Inc (VRTX) Forecast page.
Based on the consensus recommendation from 34 brokerage firms, Vertex Pharmaceuticals Inc's (VRTX, Financial) average brokerage recommendation is currently 2.2, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Vertex Pharmaceuticals Inc (VRTX, Financial) in one year is $466.83, suggesting a downside of 2.24% from the current price of $477.52. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Vertex Pharmaceuticals Inc (VRTX) Summary page.
