VRTX - 2 Growth Stocks That Could Double in 5 Years
2023-04-27 10:23:00 ET
As a group, growth stocks had a year to forget in 2022. And even with the market recovery we are experiencing this year, many remain in the red over the past 12 months. But there are always outliers. Some growth stocks have performed just fine recently compared to the broader market. That's true for Vertex Pharmaceuticals (NASDAQ: VRTX) and DexCom (NASDAQ: DXCM) -- and both of these companies are on solid growth paths that could continue to deliver for investors.
Let's consider why both healthcare stocks could double in the next five years -- and for those keeping score at home, that amounts to a compound annual growth rate of almost 15%.
Vertex Pharmaceuticals is a biotech company best known for its lineup of medicines that treat the underlying causes of cystic fibrosis (CF), a rare genetic disease. While the drugmaker continues to dominate this area, considering it has no competition, Vertex is looking forward to important catalysts in the near and mid-term.
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2 Growth Stocks That Could Double in 5 Years