What Do Analysts Think About Vertex Pharmaceuticals (VRTX)?

Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) is one of the best large cap stocks to invest in for the long term. Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) was initiated with an Outperform rating by Scotiabank on November 12 with a $495 price target. The same day, Evercore ISI reiterated a Buy rating on the stock. However, Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) received Hold ratings from Maxim Group analyst Naz Rehman on November 11 and Needham’s Joseph Stringer on November 10.

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

The rating updates followed the company’s announcement on November 8 concerning the updated data for povetacicept (pove) in IgA nephropathy (IgAN) and primary membranous nephropathy (pMN) from the ongoing RUBY-3 trial at the American Society of Nephrology (ASN) Kidney Week 2025 in Houston, Texas.

Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) reported that the 48-week data reflected a 64% drop from aseline in proteinuria in IgA nephropathy, along with an “82% decrease from baseline in proteinuria in primary membranous nephropathy, and stabilization of estimated glomerular filtration rate across both diseases”.

Pove is an “investigational recombinant fusion protein therapeutic and dual inhibitor of the BAFF (B cell activating factor) and APRIL (a proliferation inducing ligand) cytokines”, and is the only BAFF+APRIL inhibitor in pivotal trials for several kidney diseases.

Management further reported that Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) is on the path to initiate rolling submission of a Biologics License Application for potential accelerated approval to the U.S. Food and Drug Administration this year.

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.

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