Is Vertex Pharmaceuticals Stock a Buy Right Now?
Investors looking for stocks that can produce impressive gains regardless of the general market's direction should turn their attention to the biopharmaceutical industry. Shares of Vertex Pharmaceuticals (NASDAQ: VRTX) gained a stunning 33.5% in 2023 while the Nasdaq Composite index that it's a part of sank 33.1% lower.
Of course, one very good year doesn't necessarily mean Vertex Pharmaceuticals can keep climbing in the years to come. To see if it can continue soaring, let's look at reasons the stock's been outperforming the market.
Vertex markets the only disease-modifying treatments for patients with cystic fibrosis (CF). This is a life-shortening disorder that affects around 83,000 people worldwide. Last year, the company reported sales of CF drugs that rose 18% last year to reach $8.9 billion.
Source Fool.com
