Jefferies upgraded Vertex Pharmaceuticals (VRTX) to Buy from Hold with a price target of $550, up from $500. The firm likes the stock on the recent pullback and updated Vertex on improving fundamentals and its “growing” $5B-$7B “mega late-stage pipeline.” Jefferies tells investors to pay attention to Phase III AMKD kidney enrolling and believes this could be a $2B business. “Long-onlies should keep VRTX as a scarce asset in this environment,” contends the analyst.
Pick the best stocks and maximize your portfolio:
- Discover top-rated stocks from highly ranked analysts with Analyst Top Stocks!
- Easily identify outperforming stocks and invest smarter with Top Smart Score Stocks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on VRTX:
- Vertex Pharmaceuticals presents long-term data on CASGEVY at ASH
- CMS to work with Vertex, blubird to improve access to therapies, Reuters reports
- CRISPR Therapeutics (NASDAQ:CRSP) Boasts Solid Potential and Limited Risk
- American upgraded, Regeneron initiated: Wall Street’s top analyst calls
- Vertex Pharmaceuticals initiated with a Buy at Citi