Truist Securities analyst Danielle Brill assumes coverage on Vertex (NASDAQ: VRTX) with a Buy rating and a price target of $542.00.

The analyst comments: “We are assuming coverage of VRTX at the firm's prior Buy rating and modestly adjust our price target to $542 (vs firm's prior target of $525). Our bullish outlook on VRTX is driven by our expectations for the emerging kidney franchise [povetacicept (IgAN) and inaxaplin (AMKD)] to grow into blockbuster assets and further diversify the company's product portfolio.

The analyst comments: “We are assuming coverage of VRTX at the firm's prior Buy rating and modestly adjust our price target to $542 (vs firm's prior target of $525). Our bullish outlook on VRTX is driven by our expectations for the emerging kidney franchise [povetacicept (IgAN) and inaxaplin (AMKD)] to grow into blockbuster assets and further diversify the company's product portfolio. Today, CF remains the key source of revenues for VRTX, and shares continue to see pressure whenever potential competitive data are looming, given the potential magnitude of disruption another market entrant could create for VRTX's top-line. We believe the latest overhang on the stock stems from approaching Sionna (SION, NR) Phase 2 proof-of-concept (PoC) data, which are due by mid-26. Given the early stage of development, we believe the readout will likely be a clearing event for the stock. From there, we see the approval/ launch of povetacicept for IgAN (expected by Fall 2026), followed by Phase 3 data for inaxaplin in AMKD (by YE26/ early 27), as important near-term upside drivers for VRTX”.”

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Shares of Vertex closed at $435.93 yesterday.