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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.
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.