#5 - Vertex Pharmaceuticals (NASDAQ:VRTX)
Vertex Pharmaceuticals (NASDAQ:VRTX) is another biotech company that is not a play on the coronavirus. What sets Vertex apart is its leadership position in the area of cystic fibrosis treatment. The company currently has four drugs that are approved in the United States. Of those four, three of them are also approved in Europe. And the one that has not received approval, Trikafta, is likely to be approved as well and stands to be the biggest seller in the Vertex portfolio.
However, the company is not resting on its laurels. Biotech stocks are not known for issuing dividends because of their commitment to growth. This usually takes the form of acquisition or in developing future drugs. In the case of Vertex, it’s a little of both.
The company spent $950 million to buy Semma Therapeutics last year. This will give the company access to an experimental drug for Type 1 diabetes. The company is also partnering with CRSPR Therapeutics (CRSP) to develop a gene-editing therapy that targets rare blood diseases.
About Vertex Pharmaceuticals
Vertex Pharmaceuticals Incorporated, a biotechnology company, engages in developing and commercializing therapies for treating cystic fibrosis (CF). It markets TRIKAFTA/KAFTRIO for people with CF with at least one F508del mutation for 2 years of age or older; SYMDEKO/SYMKEVI for people with CF for 6 years of age or older; ORKAMBI for CF patients 1 year or older; and KALYDECO for the treatment of patients with 1 year or older who have CF with ivacaftor.
Read More - Current Price
- $450.97
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 18 Buy Ratings, 8 Hold Ratings, 3 Sell Ratings.
- Consensus Price Target
- $504.38 (11.8% Upside)
