02:45 PM EDT, 06/21/2024 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

Following the rally we've seen in VRTX shares since late May, we raise our target price to $520 from $484, 28.6x our projected 2025 EPS, above VRTX's five-year historical forward P/E average, justified by its strengthening growth outlook. We maintain our 2024 EPS view at $17.34 and raise 2025's to $18.21 from $18.11. We continue to be bullish on VRTX shares in the long run and view the recent announcement of the reimbursement deal made in England with the National Health Services for existing and future cystic fibrosis patients using Kaftrio, Symkevi, and Orkambi as positive. We also think that the pending acquisition of Alpine Immune, if closed during the summer, could be an important near-term catalyst. The company focuses on innovative immunotherapies and has a promising key asset Povetacicept (ALPN-303). We think the deal could be a good fit with VRTX's portfolio.