Why Vertex Pharmaceuticals' Shares Rose 2.8% in September
Vertex Pharmaceuticals (NASDAQ: VRTX), a biopharmaceutical company that specializes in gene-editing therapies, saw its shares rise 2.8% in September, according to data provided by S&P Global Market Intelligence. Normally, that wouldn't be worth that much of a note, but this was the same month that the Dow Jones Industrial Average fell 9.2%, roughly 3,000 points. Vertex easily went against the tide, though.
It closed August at $281.36, then rose to a high of $296.14 on Sept. 12, before closing the month at $289.54. It is really part of an upward trend for the stock, which is up more than 36% in 2022. It has a 52-week low of $176.36 and a 52-week high of $305.95.
Vertex, known for its franchise of therapies to treat cystic fibrosis (CF), a rare genetic disorder that affects the lungs, pancreas, liver, kidneys, and intestines, showed that it is about to expand its portfolio of marketed drugs. The company is working with CRISPR Therapeutics in developing exa-cel, a one-time curative gene therapy for two genetic blood disorders that require transfusions: beta-thalassemia and sickle cell disease.
Source Fool.com
