Vertex Pharmaceuticals Inc. VRTX is giving investors some good news — especially if they're keeping a close eye on its newly launched painkiller Journavx.

Journavx Gains Early Traction

At the 2025 Napa Valley Biotech Forum, JPMorgan analyst Jessica Fye walked away with a bullish tone after conversations with Vertex CEO Reshma Kewalramani and Senior Vice President of Investor Relations Susie Lisa.

The message is that Journavx is off to a strong start in its acute pain debut, with good momentum across hospital and retail settings and broad shelf availability, reportedly on close to 90% of U.S. pharmacy shelves.

Coverage is picking up faster than anticipated, and while the drug is mostly placed in Tier 3 for now, management downplayed the concern. "It's all about overall value," they emphasized, as anecdotal reports suggest that both prescribing physicians and patients are seeing encouraging results.

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Two Levers To Watch In 2025

Fye highlighted that Vertex’s 2025 revenue guide of $11.75 billion to $12 billion is primarily powered by cystic fibrosis therapies, but she also noted "two potential upside levers" to that figure:

• A quicker-than-expected ramp-up for Journavx
• Faster patient dosing for gene-editing therapy Casgevy.

The former is shaping up nicely already, while the latter, she noted, remains "a long journey."

Alyftrek and International Challenges

The company remains confident in Alyftrek, its next-gen cystic fibrosis drug with once-daily dosing and an expanded mutation profile.

There is, however, one international wrinkle: the expected revenue drag from Russia's disregard of Vertex's intellectual property rights.

Still, with a high-quality profile and positive momentum in pain and gene therapy, Fye believes Vertex could continue to benefit from rotation in this macro backdrop.

JPMorgan reiterated its Overweight rating.

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