My Take: 4 Strong Growth Stocks to Buy This Week
After a down 2022, growth stocks are making a big comeback this year. The S 500 Growth index is up more than 21% this year, while the S 500 Value index is up just a little more than 13%. Growth stocks have the potential to boost earnings more quickly than typical stocks, which provides a nice hedge for investors against inflation.
Even though Eli Lilly (NYSE: LLY), Vertex Therapeutics (NASDAQ: VRTX), Royal Caribbean Cruises (NYSE: RCL), and Stag Industrial (NYSE: STAG) are already all up 16% or more so far this year, each should benefit from macrotrends that will continue to drive revenue and profits.
Pharmaceutical giant Eli Lilly is experiencing huge growth in sales for its diabetes drugs, especially type-2 diabetes medication Mounjaro (tirzepatide), which is likely to be approved by the U.S. Food and Drug Administration (FDA) as a weight-loss drug. In the first quarter, excluding COVID-19 therapies, revenue was up 10%, thanks mainly to improved sales of diabetes therapies Mounjaro, Trulicity, and Jardiance.
Source Fool.com
Vertex Pharmaceuticals Inc. Stock
With 47 Buy predictions and 2 Sell predictions Vertex Pharmaceuticals Inc. is one of the favorites of our community.
However, we have a potential of -3.68% for Vertex Pharmaceuticals Inc. as the target price of 428 € is below the current price of 444.35 €.
