7/102 sources · 2 publishersUpdated Nov 3, 15:32 UTC
Wells Fargo lifts Vertex Pharmaceuticals price target to $650, citing manufacturing confidence
Wells Fargo raised its price target for Vertex Pharmaceuticals (VRTX) from $550 to $650, maintaining an Overweight rating. The firm highlighted management’s confidence in manufacturing ahead of the company’s November 30 PDUFA deadline. Vertex reported third‑quarter 2026 revenue of $3.44 billion, up 12% year‑over‑year.
Why it matters
Wells Fargo’s new target implies roughly 17.5% upside from the recent close of $553.15, according to the analyst note. The higher target may encourage buying pressure from investors who follow the bank’s recommendations.
Key facts
- 1Wells Fargo raised its price target to $650 from $550. investing.com
- 2Wells Fargo maintained an Overweight rating on Vertex. tradingview.com
- 3Vertex’s stock was trading at $553, near its 52‑week high of $569. investing.com
- 4Vertex reported Q3 2026 revenue of $3.44 billion, beating estimates. investing.com
- 5Revenue grew 12% compared with the prior year. investing.com
- 6Vertex faces a PDUFA decision deadline on November 30. investing.com
Summary written by AlphAI AI Desk from 2 of 2 sources. Not investment advice. Figures are as stated by the linked sources.