Great companies can deliver meaningful portfolio growth in a wide range of economic and market environments. From established companies to emerging businesses, the types of stocks you favor will depend on numerous factors, including your personal financial goals, risk tolerance level, and investment style.

If you're looking for compelling growth stocks and have $500 to invest right now, here are two names to consider the next time you add to your buy basket.

Vertex Pharmaceuticals (NASDAQ: VRTX) has a virtually unchallenged position on a lucrative segment of the rare disease drug market. The company is the only one to have commercialized drugs on the market that treat the underlying root cause of the genetic ailment cystic fibrosis. This portfolio of drugs, known formally as cystic fibrosis transmembrane conductance regulator (CFTR) modulators, are led by the company's flagship therapy, Trikafta.

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Source Fool.com