3 Top Growth Stocks I'd Buy Right Now Without Hesitation
Growth stocks are back in style after getting battered in last year's downturn. Some, though, never went out of fashion in the first place. That's the case with this trio of biotech stocks: Vertex Pharmaceuticals (NASDAQ: VRTX), Eli Lilly (NYSE: LLY), and Novo Nordisk (NYSE: NVO). All three have put up solid performances over the past year. These growth stocks may be just getting started, however. Let's find out why all three are worth investing in today.
Vertex Pharmaceuticals has a significant catalyst ahead. The company is awaiting approval for exa-cel, a treatment for sickle cell disease (SCD) and beta-thalassemia (TDT) developed with CRISPR Therapeutics. Vertex is already growing its top line faster than most biotechs, especially those of its size. In the second quarter, the company's revenue of $2.49 billion jumped by 14% year over year.
The addition of exa-cel to the biotech's portfolio could substantially improve its financial results, especially considering the vast addressable market it is targeting with this gene-editing treatment. Given an initial population of 32,000 patients in SCD and TDT Vertex and CRISPR Therapeutics will seek to treat -- and considering gene-editing therapies command prices well above $1 million -- exa-cel could be looking at an opportunity worth tens of billions of dollars.
Source Fool.com
Vertex Pharmaceuticals Inc. Stock
With 55 Buy predictions and 2 Sell predictions Vertex Pharmaceuticals Inc. is one of the favorites of our community.
However, we have a potential of -1.38% for Vertex Pharmaceuticals Inc. as the target price of 450 € is below the current price of 456.3 €.
