Is It Too Late to Buy Vertex Pharmaceuticals Stock?
Vertex Pharmaceuticals (NASDAQ: VRTX) is a fast-growing pharmaceutical company that investors have been bullish on for years. The business generates billions in revenue from cystic fibrosis drugs, and it has been working on diversifying its portfolio to include a wider array of products.
Today, the stock has a market capitalization of $115 billion -- that's even higher than industry stalwart Bristol Myers Squibb, which is worth approximately $88 billion. Given Vertex's impressive growth over the years and its not-so-modest valuation, is it too late to invest in the stock, and could it finally be approaching a peak? Or is there a path for Vertex's stock to go even higher?
Vertex's business has been growing well over the years, but the one knock on the healthcare stock today is that it's just not generating the type of growth it may need to in order to remain a hot buy. While revenue has increased by 59% from $6.2 billion in 2020 to $9.9 billion in 2023, its quarterly year-over-year growth rate tells a different story.
Source Fool.com
Vertex Pharmaceuticals Inc. Stock
The stock is one of the favorites of our community with 50 Buy predictions and 2 Sell predictions.
On the other hand, the target price of 429 € is below the current price of 443.05 € for Vertex Pharmaceuticals Inc., so the potential is actually -3.17%.
