Is It Too Late to Buy Vertex Pharmaceuticals Stock?
Vertex Pharmaceuticals (NASDAQ: VRTX) did something most other biotech companies didn't last year: It beat the bear market. The specialist in treatments for cystic fibrosis (CF) climbed as the three major indexes dipped into bear territory. And it finished the year with a 31% gain.
There was a clear reason for the enthusiasm. Vertex was on its way to proving it could be successful in areas beyond CF. The company had reported positive data for its blood-disorders candidate and then began regulatory submissions. So now, after last year's stellar share performance, the logical question is: Is it too late to buy Vertex shares? Let's find out.
First, let's look at Vertex's current earnings situation. The company sells four CF treatments; the latest one, Trikafta, is its biggest moneymaker. Trikafta brought in $5.6 billion in sales for the 2021 full year. That's 75% of Vertex's total product sales. These products helped Vertex report $2.3 billion in profit for the year.
Source Fool.com
