Why Vertex Pharmaceuticals Stock Topped the Market Today
Good news from the lab sparked a mini-rally in Vertex Pharmaceuticals (NASDAQ: VRTX) stock on Tuesday. The biotech's shares closed the trading session more than 2% higher in price, which was good enough to top the flat-lining S 500 index. One of the company's investigational drugs is showing decent promise in a clinical trial.
Vertex announced that its VX-548, a non-opioid medication aimed at treating moderate to severe acute pain, met its primary endpoint in a phase 3 trial involving patients with a wide range of pain conditions.
The biotech said that the treatment met its primary endpoint, which was a notable reduction in pain across a 48-hour period. That was the good news; the bad is that VX-548 failed to meet its secondary endpoint of reducing pain more significantly than a combination of acetaminophen -- used in over-the-counter treatments such as Tylenol -- and hydrocodone, an opioid.
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 €.
