Vertex Pharmaceuticals' (VRTX) povetacicept and inaxaplin therapies for autoimmune and genetic kidney diseases have the potential to create a dominant renal franchise and diversify the company's long-term revenue streams, Oppenheimer said in a Friday research report.

The brokerage said 2026 is an inflection year for the company's renal franchise, with key clinical readouts and regulatory updates serving as potential near-term value drivers. Analysts expect povetacicept and inaxaplin to contribute around $6.6 billion to revenue by 2035.

Povetacicept's emerging clinical profile and ease of administration, combined with the company's execution and commercial abilities, position the

program favorably in the competitive backdrop, according to the note.

The company's cystic fibrosis franchise also comes across as a solid pillar of growth with limited near-term headwinds from competition, analysts wrote.

The brokerage said it upgraded the stock to outperform from perform and reinstated its price target of $540 per share.

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