VRTX - 2 Top Biotech Stocks to Buy in October
2023-10-03 05:30:00 ET
Biotech stocks offer us a wide range of investing opportunities. You could buy shares of a research stage company and bet on a potential game-changing product that may launch several years from now. Or you could invest in commercial stage companies that might be about to enter a new phase of growth. Right now, I'll focus on the latter and talk about biotech giant Vertex Pharmaceuticals (NASDAQ: VRTX) and smaller player Axsome Therapeutics (NASDAQ: AXSM) .
Both of these companies are increasing revenue right now, and growth catalysts lie on the horizon. Vertex shares have climbed this year, but considering the biotech's prospects, the shares still have plenty of room to run. Axsome stock has slipped, offering us a particularly interesting buying opportunity. Let's take a closer look at each of these top stocks to buy in October.
Vertex Pharmaceuticals is the leader in the world of cystic fibrosis (CF) treatment, and it expects this dominance to last into at least the late 2030s. Today, Vertex sells blockbuster Trikafta, a product that last year brought in $7.6 billion in revenue, and other CF drugs.
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2 Top Biotech Stocks to Buy in October