Is Vertex Pharmaceuticals Stock a Buy Now?
Vertex Pharmaceuticals (NASDAQ: VRTX) has been one of the hottest growth stocks to own within the healthcare industry. The company has a dominant cystic fibrosis (CF) business, and it has been expanding into other areas as well. Last year, Vertex's shares rose by just under 41%, easily outperforming the S 500, which increased by a still-respectable 24%.
Can this biotech continue rallying after posting its latest earnings numbers, or has it become too expensive?
On Feb. 5, Vertex reported its year-end numbers for 2023. Product revenue totaled $9.9 billion for the past year, rising by around 11% from 2022. The company continues to lean heavily on Trikafta/Kaftrio, its leading CF brand, which brought in $8.9 billion in revenue, accounting for 91% of the top line. Net income also increased by 9% $3.6 billion.
Source Fool.com
Vertex Pharmaceuticals Inc. Stock
The stock is one of the favorites of our community with 55 Buy predictions and 2 Sell predictions.
On the other hand, the target price of 450 € is below the current price of 460.15 € for Vertex Pharmaceuticals Inc., so the potential is actually -2.21%.
