Bank of America Securities Remains Bullish on Vertex Pharmaceuticals Incorporated (VRTX)

Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) is one of the best long term low volatility stocks to buy right now. Bank of America Securities analyst Tazeen Ahmad maintained a Buy rating on Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) on October 21 with a price target of $563.

Is Vertex Pharmaceuticals Incorporated (VRTX) the Best Stock to Buy According to Jim Simons’ Renaissance Technologies?

The analyst based the optimistic rating on the company’s strong growth potential and market position, stating that Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) has exhibited steady revenue growth, especially in its cystic fibrosis (CF) franchise, with products like Alyftrek and Trikafta making significant contributions.

Despite the regulatory monitoring requirements, Ahmad stated that management’s optimistic outlook for Alyftrek reflects its potential for expanded market share.

The analyst also highlighted factors reflecting promising advancements in Vertex Pharmaceuticals Incorporated’s (NASDAQ:VRTX) pipeline, such as the ongoing developments in the company’s kidney portfolio, including the initiation of the OLYMPUS trial and the FDA’s rolling review for povetacicept.

Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) is a global biotechnology company that develops medicines for rare serious diseases. Its four approved medicines treat cystic fibrosis (CF), and one approved therapy treats severe sickle cell disease (SCD) and transfusion-dependent beta-thalassemia (TDT). The company’s product pipeline includes clinical-stage programs for various disorders, including TDT, SCD, CF, acute and neuropathic pain, APOL1-mediated kidney disease, type 1 diabetes, myotonic dystrophy type 1, and alpha-1 antitrypsin deficiency.

While we acknowledge the potential of VRTX to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than VRTX and that has 100x upside potential, check out our report about this cheapest AI stock.

READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

Disclosure: None. This article is originally published at Insider Monkey.