No Major Catalyst, Wells Fargo Downgraded Vertex
January 31, 2025 Wells Fargo analyst Mohit Bansal was not excited by the upcoming launches of Vertex Pharmaceutical (NASDAQ:VRTX)'s drugs, Alyftrek and Suzetrigine. So, the analyst downgraded Vertex from Overweight to Equal-Weight and lowering the target price to $460, which was reached today.
Bansal saw no major catalyst could drive the stock up in the near future, he also mentioned that Vertex might need to add more pipelines to its drug portfolio to drive growth.
- Warning! GuruFocus has detected 5 Warning Signs with VRTX.
According to the consensus that consist of 29 analysts, the target price for Vertex is ranged from $325.00 to $591.00 with the average of $495.25. GuruFocus estimates the value for Vertex is $434.37, suggesting a downside from current price of $460.64.
This article first appeared on GuruFocus.Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
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