Is Vertex Pharmaceuticals Stock a Buy Now?
Biotech giant Vertex Pharmaceuticals (NASDAQ: VRTX) has delivered market-beating returns over the past 12 months, five years, and 10 years. Existing shareholders are happy, but those still on the sidelines may wonder whether it's still worth investing in this drugmaker. The good news is that those late to the party can rest assured that Vertex Pharmaceuticals remains an excellent buy. Let's consider why the biotech is a solid long-term bet.
If there is just one thing to know about Vertex, it is that it holds an actual monopoly in its core therapeutic area: cystic fibrosis (CF). This rare and devastating genetic disorder causes damage to the lungs and leads to a shortened life expectancy. Vertex's medicines target the underlying genetic causes of the illness, and since it is such a severe disease, these drugs aren't a luxury for patients -- they are a necessity. Vertex's dominance in this field grants it pricing power. And while others have tried to challenge it, no one has succeeded.
Vertex's work in CF is the reason it has crushed the market over the past decade, and it is still going strong. In the first nine months of 2023, the company's revenue of $7.3 billion jumped by 11% year over year. Here's some more good news for Vertex: Of the 88,000 CF patients in its core markets, more than 20,000 remain untreated but are eligible for its current therapies.
Source Fool.com
Vertex Pharmaceuticals Inc. Stock
The stock is one of the favorites of our community with 41 Buy predictions and 2 Sell predictions.
With a target price of 382 € there is a slightly positive potential of 2.22% for Vertex Pharmaceuticals Inc. compared to the current price of 373.7 €.
